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German Insurance Firms Agree Social Media Provides “Human” Touch Necessary for Growth

German economyAs the largest economy in the European Union and the fourth largest in the world, Germany is an important and robust hub for financial services, including leading multinational firms such as Allianz and Zurich Insurance Group. We’ve made lots of exciting progress establishing awareness of the Hearsay Social brand within the DACH region over the past 12 months, including announcing a dedicated Hearsay Social presence in Munich earlier this year.
We recently partnered with a prominent insurance industry group in Germany, AMC, on a survey to gauge the state of social media usage among German insurance companies, as well as to identify opportunities to help agents better leverage technology to grow business. Respondents included mid- to senior-level marketing executives at companies that are part of the AMC network.
Key findings include:
German insurance firms understand the value of having a presence on social media

  • 84% report using social media for business; of those, Facebook, XING and YouTube lead the charge
  • About half consider Facebook to have the highest potential for sales and marketing, as well as XING
  • Twitter is often used to learn about current events

Leveraging social media at the individual sales agent level is the next big opportunity

  • Most respondents agree that having sales agents provide a “human” touch for their customers is a good reason to use social media for business purposes
  • The majority say it’s important for them to provide localized, personalized content via their agents

The current technology solutions at German insurance firms seem to be lacking

  • Nearly all respondents say the identification of relevant events in a customer’s life is important, but many also reported that their current software solution does a poor job of providing these insights

German insurance firms want stronger, clearer regulations on what they can say or do on social media

  • More than 50 percent state that more regulations will encourage social media use for business

To learn more details about the survey results, read our press release issued in Germany.
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Connie Sung Moyle

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