An Assessment of Customer Engagement with Insurance Companies on Social Media Platforms.

Abstract

A lot of studies on social media usage, especially among young people have found that young people use social media for communication, entertainment, to alleviate boredom, etc. but much attention has not been given to how customers use social media for insurance engagement. This study therefore examined factors which hinder customer engagement with insurance companies on social media platforms. Using the mix method research design the study sampled the views of 150 respondents (questionnaire) and 5 interviewees (interview guide) quantitatively and qualitatively respectively. Findings indicate that lack of knowledge on the benefits of insurance, especially among the millennial and negative perception about poor claim payment associated with the industry, hinders customer engagement, even on social media. Besides, issues on job hunting, sports, education and entertainment attracted the attention of customers more than information on insurance on social media platforms. The study concluded that the ever-growing influence of social media on consumer behaviour presents companies with opportunities and risks while the massive amount of content enables the identification of previously unknown patterns, preferences and trends. The study recommended insurance that companies should have a 24 hours response team working on their WhatsApp and Facebook platform. Also, there is the need for management to support the need for the strategic use of social media by linking specific types of content to different aspects of engagement to meet the demands of customers.