SANTA BARBARA, Calif.--(BUSINESS WIRE)--Social Intelligence, the leading provider of social media risk assessment tools and data, announced the launch of its Social Media Risk Scoring solution for property and casualty (P&C) insurers. The new technology provides real-time predictive risk scores based on the online presence of participating insurance customers. This information is used by insurers to provide discounts as well as fast-track claims processing to qualifying customers.
Insurance Industry’s First Social Media Risk Scoring Solution
Social Intelligence has pioneered the development of online data-driven risk analytics since the launch of its first product, a social media background check and monitoring solution for employers, in September of 2010. The company has continued to refine its algorithms to develop a suite of fully automated web data analytics that are currently used by many of the world’s largest employers, insurers, non-profit organizations and federal and local governments. The company’s new Social Media Risk Scoring solution is the first of its kind to provide predictive analytics in real-time to insurers based on an individual’s web footprint.
“As a data set, an online presence can tell us so much about the risk profile of an individual,” said Max Drucker, Social Intelligence CEO. “By automating the process of risk scoring based on these variables, we are able to offer a more predictive and less costly alternative for assessing insurance risk. The social web gives insurers the opportunity to gain actionable intelligence on consumers who do not have credit histories or other, more traditional forms of risk profile.”
Automated Social Media Risk Scoring
Social Media Risk Scoring from Social Intelligence processes insurance claimant data via a web application and immediately returns a predictive result generated from wide ranging data across the social web and broader internet. All information is cross-referenced with information provided by the customer and/or derived from publicly available online information. Social Media Risk Scoring is offered to insurance company customers on an opt-in basis and is used to offer incentives, such as lower rates and more rapid claims processing.
“We are excited about the future of social media screening as the next generation of business intelligence and predictive analytics for underwriting and claims fraud elimination,” said Rick Becker, Senior Vice President, Personable Insurance. “By automating the social media screening process, Social Intelligence can take the guess work out of the process, creating a solid, enterprise-ready platform that can be relied upon to more accurately evaluate the risks we are taking.”
Social Intelligence’s proven approach to social media risk analysis has set the standard for industry best practices. The company is a Social Media Consumer Reporting Agency and adheres to the strict guidelines of the Fair Credit Reporting Act.
For more information, visit http://www.socialintel.com/products-and-solutions/analytics.html
About Social Intelligence Corp.
Social Intelligence Corp. is the leading provider of social media risk assessment tools and data to a wide range of industries. With innovative and legally compliant tools, technology, and predictive analytics, Social Intelligence’s suite of products help companies assess risk, reduce costs, and target new markets. Social Intelligence is compliant with Federal and State laws to ensure that both individuals and organizations are protected. Visit www.socialintel.com for additional information.
