Data analytics have become ingrained in the decision-making processes for insurance and risk management companies. One major source of this data may be surprise you – social media.
Over the past two years, social media has become one of the fastest sources of data for insurers. This data is so helpful because it’s accessible, timely and it includes a wide range of information.
Social feeds include helpful background information on customers, their experiences and their preferences. Using this information to engage clients can help improve the customer experience, leading to increased retention figures.
For data-driven valuation solutions, contact e2Value.