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New York Life Launches Agent Social Media Capabilities

The insurer has adopted Socialware's Compass solution which enables social data to be filtered, tagged, integrated, archived and aggregated in adherence with regulatory compliance demands and company policy.

New York Life (New York) has begun a social media networking initiative to allow financial representatives to connect and engage with customers through social media while meeting security, regulatory compliance and governance concerns. The company has launched a pilot involving 750 agents using Socialware's Compass solution.

“As social networks proliferate in our business and personal lives, we’ve been looking for a way to integrate these sites within our organization in the best way possible,” says Gerard Rocchi, senior VP, New York Life. “By incorporating social networks into our business with a strong level of control that helps us to maintain our valuable reputation for integrity and fair dealing, we are bringing the best of the innovation and functionality that public social sites provide to create a better experience for our agents, field managers and the consumers we serve.”

The Socialware platform allows social data to be filtered, tagged, integrated, archived and aggregated in adherence to New York Life's social media policy, allowing for compliance with applicable laws and regulations. New York Life has the ability to define the features that financial representatives can access on social sites, archive posts and other social activity, and scan messages to ensure policy compliance. The platform also enables easy analysis of company-wide social networking usage and complete discovery to locate information across the social archive, according to a New York Life statement.

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio

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