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Could insurance be on the verge of a technological revolution?

Clive Nicholls - PreferredSince 2011, the British Insurance Brokers’ Association (BIBA) conference has been increasingly associated with social media. It’s been a fascinating ride, watching our industry acknowledge, then accept and ultimately embrace, online communication networks to the extent that many are now seen as offering a glimpse at “the answer” to a huge variety of intractable problems.

Recently, marketing website the Drum published an infographic revealing social media’s impact on natural disasters, showing how in just a few short years they have evolved into “hubs for recovery.” For example, it showed how Facebook pages set up after the 2013 Illinois tornadoes dedicated to lost and found items quickly generated 14,000 likes, while YouTube had almost 5,500 unique videos capturing news and information about the storm within 48 hours of Oklahoma City’s devastating twister last year.

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