Insurance companies and providers are reportedly combing through social media posts and selfies. This could result in higher insurance premiums or affect the vehicle, home, or life insurance applications and processes.
According to CBS New York, insurance companies are looking into social media accounts to determine the level of coverage that could be given to clients and customers. Those who are claiming their dues from their providers will be given particular focus, states Duarte Pereira, Senior Vice President of FitechGelb, as noted by CBS.
Furthermore, experts weighing in on the subject state that an individual’s online presence could affect how they claim their premiums. This means that people who are fond of posting selfies or images that put them in harm’s way should take caution. A photograph showing drinking, smoking, and other risky situations such as driving without a helmet, or even vacationing with your family could disrupt the whole flow of the insurance system, putting your premiums and investments at risk.
Customer Protection
While most companies feel that it is within their jurisdiction to creep up on their customer’s social media profiles, the state of New York assert that they can only do so with proper justification, according to the Wall Street Journal. Furthermore, the news bureau reports that New York is the first state to provide guidelines as to how insurers can use posts and other relevant financial and personal information.
Extra Caution
Following this news, consumers are advised to refrain from posting photographs that demonstrate risky behavior. Instead, individuals who are avid fans of social media sites would do well in highlighting healthy and life-changing activities. Working out, cycling trips, hiking, and other similar health and wellness-related activities would show insurers that customers are taking care of themselves, notes the Wall Street Journal.
