During Post’s annual forum on Digital Strategies in Insurance, a few industry experts discussed the possibility of having policy sales made through social media sites and Smartphone apps. One Underwriting director then championed the argument that an all encompassing app could be made which would be compatible with all major insurers. However an e-commerce director from LV Insurance wasn’t too convinced that this would be plausible, despite the success of their own LV app.
A lot of time goes into developing and maintaining a Smartphone app. It was then confirmed that “The challenge is trying to get people to download it in the first place, and then you’ve got to get the feedback and do the updates as well, so it’s pretty intense”.
While this topic brought mixed opinions, the issue of policy sales through social media sites garnered the response that it was a long way from being a reality. Kevin then commented that the industry is “miles away from selling insurance via social media”.
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