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Would you buy Insurance from a social media site?
Would you buy Insurance from a social media site
     Written by Mark Robin|Monday, 09 January 2012 10:29

Get your home, car, and life insurance directly via social media websites like Facebook and Twitter? Research groups known for developing technology and consumer trends are predicting just that, a day will come when the users will be able to buy insurance directly from Facebook.
Market analyst at Gartner predict that major social media websites may look to create revenue streams by offering insurance and financial services in the near future to the millions of people who spend time surfing those social networking websites.
In the "Gartner Predicts 2012" report, Gartner analyst Juergen Weiss points out the fact that those Facebook users can be targeted easily who share all sorts of possible personal information from getting engaged to getting married to announcing childbirths and job retirements./ They could be a soft Target to sell insurance. He also mention in his report that, Offering insurance products to their communities would be a natural extension of social media providers' financial services strategies and would allow them to capitalize on their extensive set of information they constantly collect about their users.
Insurance Options

There are a wide range of options for social media providers that are considering how to actually offer insurance products to their users, which ranges from alliances with traditional insurers'

Weiss notes that more mainstream insurance companies may be threatened if social media outlets circumvent them and offer auto insurance, home and life policies on their own. The future is evolving, he says, and destinations like Facebook have a lot of power in determining what shape it takes. "There are a wide range of options for social media providers that are considering how to actually offer insurance products to their users," he notes. "These options range from alliances with traditional insurers' white-labeling their products to the formation of their own intermediary business units."

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