INNOVATIONS IN THE INSURANCE MARKETING THROUGH SOCIAL MEDIA
INNOVATIONS IN THE INSURANCE MARKETING THROUGH SOCIAL MEDIA

Author(s): Claudia Hilker
Subject(s): Social Sciences, Economy
Published by: Vysoká škola ekonomická v Praze
Keywords: Innovation; Insurance sector; digitalization; creativity; social media marketing
Summary/Abstract: Social media have changed the requirements for the marketing seriously. Companies need to master new challenges that have arisen because of new media usage. This concerns the web 2.0 technologies, social media and the two-way communication between companies and customers. There are new opportunities for marketing, which require new approaches in handling, e.g. user-generated-content and risks like “shitstorm16”. Solutions may be reduction of risks and monitoring. It is a major challenge for such a conservative sector as insurance to integrate social media in their marketing in order to maintain existing customers and win new ones. They instigate changes in marketing strategy, marketing mix and processes and require a great deal of creativity in implementing them within the phenomenon of social media marketing. The paper deals with different views on social media marketing in the insurance sector using case studies on design of new processes within the innovation management, and indicating benefits in insurance business.

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