Just as companies use previous purchasing

Behavior, demographics, psychographics and other studies, we expect companies to take advantage of the social data that customers are providing to the public, in order to make better decisions. Insurance Companies Already Influence Rates Based on Historical Behavior Nothing new here. Insurance and Healthcare companies want safe and healthy customers. In fact, AllState’s mantra of rewarding good drivers with lower rates has been the mainstay of their advertising blitz. Health companies like Kaiser encourage members to participate in ‘Wellness programs‘, to increase overall awareness of healthy lifestyles and health. We already know that age.

health, and behavior

Already factored into rates, so we should expect insurance companies to extend their programs to also include social data. Hypothetical? Actually, it’s already happened. We know of this Canadian woman who claimed medical disability, but was soon denied after the employer and insurance company discovered Facebook pictures Belgium WhatsApp Number List of her on a beach. Three Ways Companies Can Influence Rates Based on Social Data Using a variety of Social CRM techniques (like the ‘5Ms’ to map social profiles to existing customer records), companies can conduct the following three use cases.

Whatsapp Number List

Monitor and glean intelligence

These insurance companies could monitor what members are saying, then offer suggestions on wellness, activities, and being healthy. Overtime, they can develop intelligence and eventually predictive models based upon members Philippines Telegram Number published information and their overall well being. Expect companies to quickly be able to size up new members based upon their existing social behaviors online in order to influence the packages and rates they’ll offer. Penalize ill-behavior: Insurance companies could monitor customers, and those that participate in a negative way online could be penalized. Example: Checking into bars four times a week consistently when it’s not your job could yield a 10% increase.

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