Insurers not prepared for social media: Survey

NEW DELHI: One in 3 insurance firms across the world feels they're inadequately ready to face rising trends like impact of social media, role of advanced technology and challenges around talent attrition and retention, says a survey.

According to a survey by Towers Watson, a worldwide skilled services company, twenty ninth of insurance firms ar less equipped to manage the impact of social media, whereas thirty second of respondents believe they're inadequately ready to handle the role of advanced technology.

Meanwhile, thirty third of insurance firms suppose they're ill-prepared to handle force challenges around talent attraction and retention.

However, respondents aforementioned that trends associated with markets ar of the best concern for following many years.