Tuesday, October 18, 2011

Social Network Data Used in Underwriting

I came across a very interesting and thought-provoking article. With all the recent hype surrounding social media, I was intrigued to find an article titled “In few years, Social Network Data May Be Used in Underwriting” (click article title to read full story). This article discusses how social media can help “crack the data” in investigation of claims, and how it could potentially be factored in to the underwriting process. It fosters the idea about whether or not mining social networking sites is ethical, or legal for that matter, for insurance purposes, and to what extent they should be used. Has this gone too far? Or should everyone just be that much more aware of what they publish on the internet?

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