Social Media, The Technology Communication Gap, and the Next Generation of Insurance Professionals Martin J. Frappolli, CPCU, FIDM Senior Director of Knowledge Resources
AGENDA 1. Social Media and CPCU 2. The Technology Gap 3. Engaging the Next Generation
1. Social Media and CPCU
Has time sped up? 38 years to reach 50 million users 100 million users in 9 months 13 years to reach 50 million users 1 billion downloaded in 9 months 4 years to reach 50 million users
Stats about the major social networks 500 million Number of total, 215 238 million 343 million 1.15 billion Users million active
What’s the value of social media for businesses? • Social media multiplies and amplifies word of mouth billions of times over: • 78% of consumers trust peer recommendations; 14% trust advertisements • Social media used for purchase decisions • Recommendations from friends on Facebook = up to 33% more sales • Facebook presence = 33% more sales with millennial consumers
The Institutes Community 4,014 Facebook likes 85,000+ Members The Community 13,766 2,662 group followers Twitter LinkedIn members
The Institutes’ Social Users Social The CPCU Griffith CEU.com Platform Institutes Society The Community 85,672 LinkedIn 8,837 5,470 Facebook 1,780 2,026 81 184 Twitter 615 1,073 1068
Community Tour The Institutes Community
Leverage CPCU for a Professional Network • CPCU Society volunteer leader • LinkedIn • The Institutes Community
Professionalism in Social Media • Easy to sound off • Permanent record • “Never send a letter” • The mom/CEO rule
Professionalism: Best Practices • Keep your audience in mind • Keep your medium in mind • Tone – civility • Stay positive • TMI danger
2. The Technology Gap
“Suits and Geeks” The Language Barrier • English • Business • Technology The Culture Barrier Each sees their own function as both core and irreplaceable
Costs of the Technology Gap • Failed projects • Cost and time overruns • Lost opportunities • Workplace morale • Turnover
Business Professionals, Technology Professionals Tech staff want education – on technology, not insurance Business staff want education – on insurance, not technology
CPCU Actions to Bridge the Technology Gap • Acknowledge the Gap • Encourage IT / Business cross- functional teams • Agile Development • Learn Technology • SHARE Business Knowledge
Tech Actions to Bridge the Technology Gap • Acknowledge the source of your paycheck • Embrace the industry • AIT program (new!) • AINS24
3. Engaging the Next Generation
Engaging the Next Generation Problem: • Impending workforce talent shortage across all sectors of the insurance industry Challenge • Connecting with and overcoming industry perception and awareness challenges of the Millennial
Engaging the Next Generation Vision: • Educate and excite Millennials with the many opportunities and prospects of working in insurance
Engaging the Next Generation Value Propositions: • Millennial – Increased understanding of the full spectrum of insurance career options; communicated how I want • Industry – Unified industry voice increases impact, content reach and workforce prospects
Engaging the Next Generation Consider Platform Concept Scholarships Awareness Consideration Decision Collegiate Multi-Channel Internships Engagement Studies Brand Millennial Insurance Job Seeker Activation Online Intern Parents Social Influencers BR AND.C OM Traditional Insurance focused Educators Experiential College studies Educated on Other Insurance opportunities BR AND.C OM Career Career Simulation Videos Brand Career Assessment Digital Platform Content Aggregation & Collaboration Marketing Efforts Benefits Industry & Education Partners Unified Industry Message
Engaging the Next Generation • Understand the full career timeline • Reaching out to high school and college students • Education doesn’t end at CPCU • Lifelong learning concept
The Institutes Thank you!
Recommend
More recommend