By Life Quotes, Inc. Staff

While much of the insurance industry has been unwilling to use social media websites like Facebook and Twitter, there has been one sector of the business that has ignored it more than any other.

The life insurance industry has, perhaps unsurprisingly, been the slowest to adopt social media as a way to increase business, according to a new report from the consumer finance website Financial Planning. The report cited a poll from Mintel Comperemedia that found while 70 percent of life insurance agencies use at least one social media site, only half use them to drum up business.

Further, only 14 percent of those polled said they believe social networks have generated leads through word of mouth, and the same percentage say clients use those networks to communicate with their insurers, the site said. Only 11 percent believe such sites give them access to more potential clients.

A recent report from National Underwriter said that one reason for this lack of companies doing business through social media websites is that doing so can create regulatory and legal nightmares for insurance companies and agents.

This article was originally published by Life Quotes, Inc.