Beyond helping with recruiting and retention decisions, did you know that social media reports are increasingly used by insurance companies, in deciding who gets covered and who does not?

Social media information is now compared against existing large databases to further support conventional risk assessments and help insurers in deciding about policy risks.

Insurers may weigh information garnered from social media and adjust risk scores from social factors including alcohol and drug use, social connections, purchases, important life events, and professional credentials.

One interesting outcome here is that certain applicants who would not pass a conventional insurance credit check may actually end up passing after social media factors are weighed.

BTW Social61 is not involved at all in working with insurers in this context!