and the Next Generation of Insurance Professionals Martin J. - - PowerPoint PPT Presentation

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 13 years to reach 50 million users 4 years to reach 50 million users 100 million users in 9 months 1 billion downloaded in 9 months

Stats about the major social networks

Number of Users 500 million total, 215 million active 238 million 343 million 1.15 billion

What’s the value of social media for businesses?

• Social media multiplies and

amplifies word of mouth billions

• f 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

The Community

Facebook LinkedIn Twitter

85,000+ Members 2,662 followers 13,766 group members 4,014 likes

The Institutes’ Social Users

Social Platform The Institutes CPCU Society Griffith CEU.com 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
• verruns
• Lost
• pportunities
• 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

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

• f insurance career options; communicated

how I want

• Industry

–Unified industry voice increases impact, content reach and workforce prospects

Engaging the Next Generation

Engaging the Next Generation

Platform Concept

Awareness Consideration Decision

Intern Insurance focused College studies Educated on Insurance opportunities Insurance Job Seeker

Parents Educators Other Millennial

Brand Activation Online Social Traditional Experiential

Industry & Education Partners

Content Aggregation & Collaboration

Internships Scholarships Collegiate Studies Career Assessment Career Videos Career Simulation

Influencers

Consider Digital Platform Brand Multi-Channel Engagement

Benefits Marketing Efforts

Unified Industry Message

BR AND.C OM

BR AND.C OM

• Understand the full career timeline
• Reaching out to high school and college

students

• Education doesn’t end at CPCU
• Lifelong learning concept

Engaging the Next Generation

The Institutes

Thank you!