In Few Years, Social Network Data May Be Used in Underwriting

This is an excerpt from an Insurance Journal article written on October 13, 2011 by Young Ha.

The insurance industry is paying increasing attention to what people and businesses post on social networking sites like Facebook, Twitter and LinkedIn.

Already, scouring Facebook and other social network pages of the insureds is a common practice on the claims side of the business. Many investigators say it’s one of the first things they do when looking into potentially fraudulent claims, including both hard fraud (staging auto accidents, etc.) and soft fraud. (over-reporting damaged values after a fire, etc.)”.

This is a topic that you may want to consider sharing with your customers.

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