For insurance carriers, an optimal social media strategy includes input from across the organization, Al Durcan, SVP of enterprise infrastructure support and services for Chubb & Son (Warren, N.J.), said at Insurance & Technology' 2010 Executive Summit in Carefree, Ariz.
Durcan outlined how Chubb's social media strategy started being shaped in the IT department, but eventually, a multi-disciplinary working group was assembled to determine the business value of the channel, with senior representatives from all strategic business units. Chubb mainly uses its social media presences to demonstrate its subject matter expertise, Durcan demonstrated. For example, in addition to a Facebook page for the brand as a whole, the carrier has separate microsites for its collector car business, as well as a careers site.
"This not about selling, it's about sharing," Durcan said. "If you try to oversell, you can get pushback very quickly."
But central to Chubb's social media strategy is a risk management component. Reputation is important online, Durcan said, noting that "Things can go viral quickly on you."
To alleviate legal, financial, regulatory, intellectual property and reputation risks, Chubb has developed a framework for planned social media pilots. The company has published corporate employee guidelines on participation in internal and external social forums, developed training to administrators and contributors, and implemented a formal “toll gate” process by which all social media activities are reviewed and approved for launch.
Nathan Golia is senior editor of Insurance & Technology. He joined the publication in 2010 as associate editor and covers all aspects of the nexus between insurance and information technology, including mobility, distribution, core systems, customer interaction, and risk ... View Full Bio