Category Archives: insurance

Understanding the Medium: Tips for Navigating the Changes to Social Media

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No matter where you turn, social media issues are in the headlines.

Just recently, former President Trump’s Truth Social platform had its IPO, legislation to ban TikTok in the United States has stalled in the Senate, and the Supreme Court has expressed concerns related to free speech and state-level social media legislation. On the consumer side, according to TechCrunch, in 2022, TikTok’s monthly active users grew an average of 12% year-over-year per quarter, but this figure fell to 3% year-over-year per quarter in 2023.” Setting aside the politics and social concerns related to these headlines, the social media landscape is actively changing, and businesses will need to reassess how they utilize social media.

Understanding how the social media landscape is changing will require individual users and businesses alike to acknowledge the changes already been made. We are well past the days of Facebook’s monopoly on the social media market, and even traditional influencer relationships have changed with the growth of platforms like TikTok and YouTube Shorts. Now, businesses and users are seeing signs that these platforms are under attack, and some are asking if they will go the same route as Vine in 2017, when it was bought by Twitter (now X), and essentially shut down. Looking to the future, there are a few things that social media users of all levels should keep in mind.

Short-form content will remain dominant

While platforms are changing, the content has followed a similar trend — users want short, easy-to-digest content they can share and react to in a streamlined way. This means that even if TikTok is banned in the U.S., or bought by a different owner, other contenders will jump into the vacuum left in TikTok’s wake. Channels like Instagram and X continue to invest in video content, and that content will continue to be short as each brand’s content feeds continue to compete for attention.

Strategy is a must have

When choosing what platform to use, it’s important to consider how consumers interact with it, and how those audiences will then share and consume future content. Is a user looking to reach local business owners or C-level executives? For the former, community platforms like Facebook may still have a place in strategy, while the latter is more likely to capture engagement on LinkedIn. Understanding audiences and their media consumption habits will help users create a sustainable, long-term plan for engagement that makes a difference, despite ongoing changes or regulatory considerations. Reference the Twitter/X evolution as an example of how not thinking through these strategies can impact your long-term social media plans.

Names fade, but content remains king

Like many businesses, the names and identities of those at the top of the industry can change quickly. Facebook knocked Myspace off its throne at the onset of modern social media, and X has taken leaps away from the identity and goals it had as Twitter. While the names on the door may change, the user’s need to engage with relevant content remains constant. Now, as new platforms rise and identities change again, users are looking for the next big thing. While we don’t know what social media’s next big players might be, we can be sure there will be an emphasis on content that can be easily consumed, shared and analyzed.

As the role of social media in shaping politics and opinions has rapidly grown, businesses and individual users should pay attention to how the platforms are changing and being regulated. While it is impossible to predict every change that may come to a platform, social media users can be prepared by having a strategy and recognizing the kinds of quality content that remain popular on a given platform. By developing and sharing good content, users will remain at the top of social media home pages, regardless any changes to the platforms.

Read the Room: Preparing for your next speaking engagement

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Sweaty palms and a microphone in hand, you are called to the stage for your presentation in front of hundreds of your colleagues. You wrote your speech word for word and studied it diligently but as your nervousness grows, those words you meticulously studied begin to vanish. Panic. Anxiety. Is there more you could have done? As in all things, preparation is key.

Power in preparation

A successful speaking engagement is rooted in the right kind of preparation. While writing a speech is an important part of the process, simply putting words on paper could leave a public speaker high and dry on stage. The reality is a memorized speech is full of recollection and verbal landmines, stumbling and missed content. When preparing for your next speaking engagement, consider the following:

  • Focus on key messages: Rather than memorizing a speech, consider the key messages or the main points the speech conveys. Talking points serve as a speaker’s safety net and help pull them back to their main points when stumbling occurs or they veer off on a tangent. Key messages should include the main idea of the speech, how it relates to the speaker and their organization, as well as the audience and high-level content points.
  • Follow a formula: Be sure to make your point, provide reasoning or statistics that support your point and consider offering an example to help the audience visualize what you are saying. Telling a story is often easier for a speaker to recall compared to memorizing theories, data or intellectual arguments. Finally, be sure to drive the point home again at the conclusion of your remarks.
  • Practice makes perfect: Reading your speech ahead of time can be helpful, but nothing compares to giving the speech on camera or in front of colleagues, friends or family. Avoid speaking in front of the mirror as it only serves to distract. Speaking before a friendly audience helps with both familiarity with the topic as well as speed of delivery, your body language, your intonation, articulation and more. Play the recording back afterward to self-evaluate and ask for honest feedback and direction from those who are invested in you making a great impression up on the big stage.
  • Engage with your audience: Audience engagementis crucial to a speaker’s success, but it rarely ever just happens. Speakers must prepare for what some call crowd work; engaging the audience as part of their presentation and considering potential outcomes. In addition to the fact that audiences do not want to sit through a lecture, engaging with the audience can help them remember your key points. Storytelling, adding a little humor, polling the audience or low-pressure activities can be great ways to garner audience attention and prime them to listen attentively.
  • Have a backup plan: When all else fails, speakers should be prepared with a backup plan. Comedian Jo Koy saw firsthand what happens when you do not have a plan at the 2024 Golden Globes when his monologue fell flat. His jokes about Barbie and Taylor Swift left him in hot water and his only fallback was to blame the writers. While the Golden Globes is a much larger stage than your average business conference, all speakers should be prepared to pivot. Consider how an audience could respond to all aspects of your speech and have a plan to pivot to a safer topic should you lose the audience.

Public speaking is among the most common societal phobias, but it can be overcome in many cases, with effective practice and preparation. Comprehensive preparation can instill the confidence a speaker needs to be successful on stage. Speakers are selected for the insights they offer. Come prepared for the stage with key messages and a solid plan of action to make sure your messages are conveyed in way that engages the audience and leaves them wanting to learn more.

The Stories We Tell About Insurance Must Change

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For years our agency founder, Gary Kimball, talked about how the insurance industry has an image problem. I continue to share that sentiment.

It’s akin to a plane crash. This time of year, millions of us climb into aluminum/composite tubes to be flung hundreds of miles per hour at 30,000 feet or more to visit family and friends. We do this, mostly, with confidence and not much concern about the airline industry until we learn of an incident of some kind. Suddenly, some are afraid to fly … because of one incident.

Whether it is capacity issues, carriers leaving certain states or regions, rising premiums, the talent crisis or denial of claims, these seemingly jolting situations are a mere fraction of the total contribution of one of the few industries that, without exaggeration, not only helps us in a time of need, but underpins every foundation of our society.

So, what is the solution?

Insurance leaders need to lean into what the industry, and individual companies, enable in the world. The messaging going forward needs to focus less on balance sheets, premium, products and capacity. Instead, a long-term image campaign is required. To do this successfully, a full-throated and relentless discourse is needed on the successes and enablement insurance provides across our society, in things large and small.

  • Businesses can expand – and create jobs – because they have insurance to protect them in the event of an “incident,” whatever that might mean to the business.
  • Technologies can be explored, developed and deployed because insurance exists to protect organizations and entrepreneurs from misapplications or hardware failures.
  • Each of us can invite friends and family to our homes, regardless of season, weather and other conditions, with the reassurance that if a guest trips or gets hurt, there is insurance to protect them and us from financial devastation.
  • Holiday gifts, as well as mission-critical medical equipment, can be shipped around the world without fear of loss or damage because these items are insured.
  • Life-saving treatments can be developed because the scientists and doctors doing the work are covered in case something goes wrong, ensuring the entire enterprise isn’t lost to the detriment of those who depend on these treatments.
  • Volunteers can support charitable events and serve on the boards of nonprofits doing social good because insurance shields them from junk lawsuits or legitimate, but not malicious, errors in action or judgement.
  • You can buy your $1,000 smartphone and rest assured two days later when you drop it that you have insurance to cover the repair or replacement without breaking the bank.
  • And those aluminum/composite tubes can help us get home to our families for the holidays because insurance protects them from complete disaster in even the most minor of errors, delays or missteps.

These and other messages are what consumers, potential industry recruits, business executives, homeowners, nonprofit leaders and others need to hear. In this moment, as we brace for a new year and all the challenges that come with it, we need to change the industry’s approach to its perpetual image problem.

I have spent a career reporting on, adjacent to and supporting the insurance industry. I am a convert. Despite the occasional bad press, there is so much the industry does that makes the world go round. We simply need to tell those stories, often, and starting now.

5 Steps to Navigating a Crisis Situation

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Planning your escape while your house is engulfed in flames is, arguably, the worst time to try to develop an escape plan. Surprisingly, countless business leaders take this approach to crisis communications management; trying to make a plan to save the business as metaphorical flames lick at their hands and feet.

The smart move is to have a comprehensive crisis communications plan in place long before you need to use it. However, given the relative lack of thoughtful crisis communications planning among many organizations, the next best strategy is to try to navigate the crisis as best as possible without getting too badly burned.

If your business or non-profit lacks a crisis communications plan, but you find yourself trying to manage a crisis situation, here are five steps you can take to try to minimize the damage:

Gather the Facts

The worst thing an organization can do early in a crisis is make assumptions or speculate. The outcome of your crisis will be shaped largely by your initial response. What can you verify? Start with what happened, when, who was involved and how you expect this event to impact your organization’s stakeholders and the public. Keep emotion out of it, recognizing emotions will run high in a crisis. Remember, we all have different perspectives and opinions when we’re asked to recount a situation. This is where you must insist on only dealing with verifiable facts.

Assemble Your Team

Typically, this includes one or more people in leadership, your organization’s attorney and one or more crisis communications professionals; either your in-house communications person or an experienced public relations agency specializing in crisis work. Empower the team to examine the situation and guide the course of how you will message to internal and external audiences.

Take Control of All Communications

From answering phones and the receptionist greeting guests to the intern handling your social media and the company daily email newsletter, your crisis communications team has to have complete control over all your communication channels. It’s best to deactivate comments on your Facebook page, pause your company newsletter and instruct everyone answering phones or greeting the public to direct all questions to a member of the crisis communications team. Everyone must be in sync in managing how your organization communicates in the middle of a crisis situation.

Be Consistent in Your Messaging

While it is important to adapt your messaging as facts present themselves, the messaging strategy and tone you and your crisis communications team agree to should remain consistent. Shifting the premise of your messaging will only create chaos, creating further confusion and eroding trust in your organization’s ability to manage the situation. There is also a tendency by some to question the strategy if an immediate resolution does not manifest. Recognize that once in a crisis, there are no quick fixes but often rather only a series of unpleasant realities. Managing a crisis in progress is about being patient and, frequently, picking the least damaging option available among several less-than-ideal options.

Do Not Lie

A final point on messaging: don’t lie. Don’t guess and don’t try to obfuscate. As noted in step one, your messaging must be fact-based. You should never try to spin your way out of a crisis as doing so almost always leads to making matters worse. Be honest, even when painful. And while legally you may be advised to not admit guilt, there are ways your legal and communications team can work together to provide fact-based and forthright messaging that will ultimately move you toward a more positive outcome in crisis situations.

Applying the above steps can help your team better manage a crisis and help ensure you aren’t completely overwhelmed by circumstances, some of which may not be of your organization’s making or in its control. But when in doubt, contact a professional crisis communications team. Your reputation and bottom line are worth the investment.

The Untold Story of InsurTech Insights USA 2023

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When I first made the transition from being a journalist to working in the world of public relations, a mentor gave me the following tip: When you get a reporter on the phone, you only have about 10 seconds to prove you have a story worth their interest. If you can’t wow them in the first 10 seconds, you’ve lost them.

I was reminded of this lesson at the 2023 InsurTech Insights USA conference in New York City in June. There I participated in the conference’s speed-dating-style networking structure. It afforded me the chance to meet with nearly 30 different companies in less than two days.

What became apparent in those rapid-fire meet-and-greet meetings – and was noted by several of those with whom I met – was that many of them struggled with their elevator pitch.

These were brilliant minds: data scientists, computer programmers, academics, serial entrepreneurs and financial geniuses. Their struggle was in capturing the attention of their listeners in the first moments of meeting. This wasn’t just my observation; several told me this was the biggest challenge they faced as they took their start-up or early-stage companies to market. Given the highly technical nature of many of their insurtech models, clearly and succinctly connecting what they did with a business case for their prospect proved challenging. In fact, it was one of the major reasons some wanted to talk to me. They wanted assistance in getting their message out to stakeholders.

What I shared was another lesson I learned long ago as a young reporter: people care about stories they can relate to or in which they see something that reminds them of themselves. Yes, business professionals want to know how a particular product or service improves their bottom line. But before you can get to the features and benefits, you must be able to tell a story that will capture their attention. That’s the secret to a great elevator pitch, winning over the prospect in a sales meeting or capturing the imagination and interest of a reporter.

If you can develop a great story that has a dynamic and recognizable opening, based on use or case studies or even your business’s origin story, and give it a strong opening that will grab the listener, you’ve won their attention. And with that attention, you can present your product or service to a more receptive and engaged audience. That is how you effectively communicate value.

Many businesses, well established or otherwise, share this same struggle. Engineers, financiers, technologists and entrepreneurs rarely study communications in school or launch their professional careers focused on telling great stories. They focused on their expertise and problems to be solved. Having a talented communications team behind them can improve an organization’s ability to better connect the problem to be solved with a helpful product or service. That is the X-factor in countless success stories waiting to be told.

Crisis of Confidence

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In the span of just three months – one at the end of 2022 and two at the beginning of 2023 – the insurance industry has been at the center of significant crises situations that have played out in the media. While the scenarios cover a broad spectrum of what could go wrong, from each situation emanates one key theme – the value in planning ahead for a potential crisis.

In December, State Farm was the focus of an investigative feature story detailing allegations that the insurer discriminates against black homeowners in claims scenarios. With a human, empathetic approach to its response, State Farm struck exactly the right tone in a situation where the story would have proceeded with or without the company’s input. The response, shrouded in what appears to be sincere embarrassment, may ultimately serve State Farm well if the company continues to resolve the matter while owning any mistakes made.

The Norfolk Southern train derailment on Feb. 3, 2023 and the resulting chemical spill dominated most headlines and broadcast news coverage for most of February. As investigations proceed and claims likely exceed Norfolk Southern’s liability coverage, increased scrutiny will fall on railroad insurance generally and risk management practices in the transportation industry more specifically. In time, insurers will face questions about how the U.S. transports sensitive cargo and the safety measures it mandates of its insureds.

And finally, in late February, North Carolina investment firm founder Greg E. Lindberg again generated headlines when he was charged by a federal grand jury in a $2 billion fraud scheme. According to the indictment, Lindberg and others are accused of improperly taking money for personal use from insurance companies controlled by Lindberg. This news follows a 2020 bribery conviction of Lindberg that was overturned on appeal in 2022. Lindberg has since made several combative statements, issued a press release announcing planned actions by his defense team, and otherwise taken actions to ensure his name remains in the headlines, come what may.

And these are just a few of the more recent, audacious headline makers.

As has been said many times before, the insurance industry has a communications problem. And like so many other industries, the crisis communications capabilities of the insurance industry are lacking.

Countless businesses of all sizes are ill-prepared for crisis situations where they must communicate with multiple stakeholders: investors, board members, employees, vendors, the public at large, industry leaders, etc. Most lack a Crisis Communications Plan. And for those who might have a crisis plan of a sort, those plans are often out of date by many years and/or have never been stress tested. In fact, if you quizzed most senior executives at any number of organizations, they would be hard pressed to verify a Crisis Communications Plan exists for their company, and who is assigned to what roles on the designated crisis team.

Crisis Communications Plans give companies and non-profits a road map to follow, designate team members with clearly defined roles, and provide approved language for a range of scenarios that allow for the type of rapid response required in the current media environment. These plans also empower crisis team members with both formal training that helps them to avoid missteps and with the authority to act in the best interests of the organization within certain parameters. Lacking such a plan, most companies find themselves making it up as they go, which is akin to trying to close the barn doors while the horses are mid-stampede from that same barn. The best you can hope for in that scenario is not to be crushed in the experience.

Like insurance itself, a good Crisis Communications Plan is a hedge against disaster. While it will require an initial investment, the savings such plans provide can be incalculable in a true emergency situation. Some crises result in bet-the-business risks that often can only be resolved if the actions taken are deftly communicated. One need only look at recent bank failures – driven by crises of confidence primarily – to understand how vital quick, thoughtful and fact-driven communication can be in the life of any organization.

Is it mine? How to share your PR win

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You’re famous! Well, somewhat famous. You were included in a great article in a highly regarded, well-read industry publication, and your thought leadership or interview made the front page. The next steps usually involve raising awareness of the story and sharing it among your colleagues, clients and peers. But can you do more? What if your quote would fit perfectly in an upcoming presentation or marketing material? They’re your words, aren’t they?

The short answer is – it’s complicated.

While they may be your thoughts on the page, an article is usually owned by the publication that published the article. This applies to thought leadership as well. Even if you are the bylined author, most publications own the rights to the submitted content they publish. So, what are the dos and don’ts of sharing content?

The Dos

First, most publications encourage authors and sources to share content they contribute through social media, as long as the post links back to either the original story or the publisher’s social media post about the content. Tagging the article and the publication are considered good practice and drawing attention to a story is a great way to deepen relationships with the media.

When it comes to your website, include a link to the article in your press page. This usually involves posting the title of the piece, the author, and the date it was published along with a hyperlink to the original piece. Generally, as long as you are linking to the content on the publication’s website and not copying content, you are not violating any rules related to intellectual property or copyright.

For marketing purposes, it is also acceptable to include mention of the article and is preferable to the publishers if your mention provides details on where to find the original article. For example, if a brochure discusses how a subject matter expert discussed a topic in a recent Forbes article, that is fair game and preferable to all parties if that mention includes the date that article was published.

The Don’ts

The general rule is once content is submitted to a publication, they own it – even if they are your own words. While linking to the original article is not different than any other social media post, taking written content and posting it without a link or credit is generally a violation of the publication’s intellectual property. At the very least, it is a great way to burn a bridge with a valued media contact and their publication.

This applies to more than just website content. Marketing materials and other communications should not include unattributed quotes, segments or articles. A bylined article should also be considered the property of the publication once it has been submitted for publishing. Many publications will have language to this effect in the legal notices on their website or even request that you sign an author’s agreement before publication.

A Rule of Thumb

Many publications may be interested in giving special permission to use their content as long as they are given the proper credit. There can be a grey area here, but as a rule of thumb, when it comes to who owns the content, regardless of who wrote it, assume it belongs to the publication.  

Thought Leadership: Why It Matters 

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Thought leadership is vital to amplifying a business leader’s voice and staking their claim as an expert in their field. And if you think it can’t be a priority, consider: 

  • SEO benefits:  What drives the internet – and search engine algorithms – is new, original content. The SEO impact thought leadership offers professionals and their organizations is huge. Thought leaders should link relevant, high traffic articles within their pieces to support their research and help drive viewership. Additionally, thought leaders can link their pieces via social media to drive traffic from their network.
  • Position yourself as a leader: Many executives and organization leaders underestimate the value their experience and thinking can be to others. By sharing insights, opinions and advice, you can position yourself as someone customers, clients and other industry insiders turn to for guidance, all while enhancing your brand or market presence. 
  • Promote events: Thought leadership offers a unique tactic to promote your event, showcase the expertise of leaders at your event and position yourself in front of people who are or should be attending. For example, some of the following thought leadership pieces from the Insurance Industry Charitable Foundation (IICF) ahead of their Inclusion in Insurance Regional Forums this month in Insurance Journal and Risk & Insurance helped support those events while also advancing the reputations and insights of the authors, their companies and IICF while contributing to the furthering of key issues within the insurance industry. 

Our clients often benefit from thought leadership because furthering their reputation and recognition in their industries or marketplaces is mission critical. Also, when done well, thought leadership really works. Leaders across all industries have extensive experiences and insights to offer. Packaging that expertise into well-thought out, easy to absorb content, allows business leaders to maximize their exposure and drive organizational goals.  

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Reputation management through crises

For businesses, a compassionate and savvy response to the COVID-19 pandemic involves transparent, accurate and realistic communications. This serves to protect not only employees’ and customers’ health, but also a business’s reputations. In PropertyCasualty360, our VP Rod Hughes offers guidance on reputation and crisis communications for insurance professionals and all B2B professionals.

Insurance, insights, and acrobats: RIMS 2017

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The annual RIMS conference is always a worthwhile annual reunion for the insurance industry. It’s an enormous event that gathers carriers, brokers, and tech companies to network and (dare I say) have a good bit of fun! For those who’ve been, they know: the RIMS parties are something else. This year’s event at the Pennsylvania Convention Center here in Philadelphia treated attendees to acrobats in the main atrium, a champagne fairy, a Billy Idol concert and remarks from Michael J. Fox.

But the conference isn’t short on substance, either. There were valuable educational sessions, tasty meals and inspiring speakers. It also gathers the insurance and business media to meet in one place. From a public relations perspective, that is an incredible opportunity. It is the time to connect key reporters and industry thought leaders to engage in constructive conversations about risk and insurance.

We used the opportunity to say “hi” to old friends on the media side and introduce them to clients as future resources. We also facilitated some on-site interviews to make sure our clients got in front of the RIMS audience – a key group for anyone looking to get their message across to broker, carriers, and more.

In the case of one of our attending clients Pennsylvania Lumbermens Mutual Insurance, we also got the opportunity to see things from the exhibitor perspective as we captured social media content for them. Check out this video of a critical loss control tool they are using with their customers demonstrated at their exhibit booth.

Social media was a key component of the conference, down to the #RIMS2017 hashtag displayed boldly in giant letters in the entrance to the convention center. Screens throughout the convention center compiled tweets with the hashtag, and people were quick to pose for photos as the “I” in RIMS (like we did).

Sam_Eileen at RIMS2017_2

The RIMS conference may be primarily an education and networking opportunity for the insurance pros involved, but for us insurance PR pros, these opportunities to connect with reporters and create social media content were just as important. Thanks to the RIMS organization for a valuable conference. See you in San Antonio!