Do You Want Instant, Or Do You Want Accurate? The Value of Accurate Intelligence in Social Media Background Reporting and Analysis
Social media background reporting is a critical tool for modern businesses. With 90% of employers viewing applicants’ social media usage prior to hiring, it’s clear that an individual’s digital presence carries a great deal of weight. Risk management professionals can use social media to check for red flags that may be problematic for their industry. Private investigators use social discovery tactics as a form of virtual surveillance. Insurers can find out if claims are genuine or fraudulent. If someone files a claim for damage to a vehicle, but older pictures on Facebook or Instagram show the damage was already there, that would quickly invalidate the claim. Conversely, conversations between friends and family could lend weight to the evidence that supports the claim.
Organizations need access to this information fast and may invest in cheap, software-based solutions to achieve this. As we’ll see, the fastest and cheapest solution for social discovery is rarely the best solution, regardless of your industry.
The Downfalls of “Cheap” Reporting
Utilizing artificial intelligence (AI) and machine learning can help when managing large amounts of data, but aren't sufficient on their own if you need highly accurate insights. Problems with cheaper solutions that don’t involve any human input include:
- False positives that lead to claims being declined incorrectly
- Large volumes of data that insurers or other professionals still need to sift through
- Additional costs hiring data analysis professionals or subscribing to other software solutions to deal with data that is neither accurate nor actionable
Saving money on a “cheaper” solution can ultimately leave organizations out of pocket and out of reach of the results they need to accurately support their business operations and growth.
The Benefits of True AI: Accurate Intelligence
Technology has its advantages, but ultimately it is a tool to be employed by humans. Currently, without the human factor, there’s no way to guarantee 100% accuracy when relying solely on AI. That’s why Social Discovery Corp employs the best of both worlds: innovative machine learning combined with skilled and diligent employees who have an eye for detail. This Accurate Intelligence (AI) provides a custom solution that is both trustworthy and actionable. The data that can be delivered using this method is far more complete than using technology alone. Plus, it allows Social Discovery Corp to offer exemplary customer service as their teams are fully engaged with the process.
For leading insurance companies, this means validating claims with ease – or conversely, capturing early indicators of fraud. Ultimately, this helps insurers cut costs and resolve claims faster, making them more efficient -- and therefore more attractive to prospective customers.
Technology is still a vital part of the data capture and analysis process. That’s why Social Discovery Corp partners with Guidewire Marketplace, eliminating the need to constantly switch between systems by allowing users to retrieve reports directly via ClaimCenter. At the same time that it enables ease-of-access, the SDC process also offloads the time and internal risk associated with employees attempting to perform social analytics themselves. This dual benefit of instant access, combined with time efficiency and risk mitigation, is at the heart of the SDC solution.
Partnerships like this enable Social Discovery Corp to provide a thorough context of findings and a full analysis of each individual situation. In stark contrast to Artificial Intelligence, Social Discovery Corp's commitment to Accurate Intelligence means they can glean precise insights and deliver data in a finished and complete product customized to the client by industry and individualized requirements.
Finding Accurate Intelligence at a Scalable Price
So, how do you go about finding a solution that works for you and your organization? In social media background reporting, there is no “one size fits all” solution. Every company has different requirements based on its industry. Insurers require detailed, accurate information to back up or disprove insurance claims. Private investigators have to deliver results fast, so they can't get bogged down trawling through multiple social media accounts themselves. Risk managers may have any number of requirements that need individual assessment and analysis.
The reports from Social Discovery Corp are fully curated and customized to match individual organizations’ requirements. Bulk data providers are not capable of delivering the same level of accuracy and focus. Purely human surveillance is another option, of course, but incredibly time-consuming and expensive – and not a tenable solution for most large insurers.
Why the Experts Choose Social Discovery Corp
Social Discovery Corp's success is highlighted in its partnerships with Fortune-1000 companies and highly influential enterprises.
- Social Discovery Corp is currently working with Sedgwick, a claims organization that literally millions of individuals and companies rely on each year – meaning their information has to be accurate and actionable. Social Discovery Corp's Accurate Intelligence ensures their clients can trust Sedgwick, and helps the company deliver results faster.
- Social Discovery Corp has secured claims contracts with prestigious insurance organizations eager to utilize the Accurate Intelligence model for their special investigations units (SIU) to help beat fraudsters, and also to verify claims.
- Social Discovery Corp continues to best the competition, winning coveted contracts with enterprise-level insurance companies who see the value of Accurate Intelligence that provides not just raw data, but analyzed, accurate, and actionable insights.
Understanding that these top-level companies have placed their trust in Social Discovery Corp because of accuracy and best-in-class customer service helps other organizations make the right choice when it comes to social media background reporting.
Look out for our next article, in which we’ll explore the dangers of false positives when performing social media background reporting – and how to avoid them. If you’ve decided that an accurate social media background reporting custom solution at a scalable price is the right way to go, contact Social Discovery Corp for more information.