The insurance industry meets social media
Social media is an emerging technology in American society. While it may seem that social media is solely a form of entertainment, it can also be used in a professional setting. The insurance industry is quickly learning that potential and existing customers share information about their lives on social media platforms that can affect their insurance standing. In many cases, individuals will attempt to deceive insurance companies into believing they have suffered a loss. However, these individuals then share information on the internet that is contradictory to the details that had been presented to the insurance companies. It is now common practice for insurance companies to assign certain employees to monitor status updates and pictures that are posted by individuals of interest. I examine many aspects related to this practice, including the purpose, the ethical concerns that have arisen, the various areas of insurance that benefit, specific examples of troubling findings, the advantageous effects on the average customer, and recommendations for smart usage of social media platforms. The reader will learn how two seemingly unrelated concentrations, the insurance industry and social media, are integrated in many different facets.