Limra is partnering with Hearsay Social to help its members more effectively use social media to build their business, Limra announced Monday.

Hearsay Social services will allow the field representatives and marketing teams of Limra members to attract and retain customers through the effective use of social media, says Limra, a Windsor, Conn.-based esearch, consulting and professional development organization for insurance and financial services companies.

San Francisco-based Hearsay Social provides services that enable users to communicate with clients and prospective clients across teams in compliance with federal regulations.

A recent Limra study found that 90 percent of insurance and financial services companies currently use social media and most agreed that compelling content that provides value to an audience is critical to the success of a social media program. The survey, “Retweets, Likes and Shares: How Financial Services Companies are Using Social Networks,” was based on responses from 53 insurance and financial services firms.

Social media platforms have different purposes for financial firms, according to the survey. For instance, LinkedIn is used by 70 percent of the firms to recruit staff, while Twitter and YouTube are used to build brand awareness.

“The most popular social media sites continue to grow in influence and a number of new sites are rapidly gaining attention,” says Limra. “Financial services companies are still figuring out where they need to have a presence and where they can abstain.”

As Limra’s partner, Hearsay Social is the endorsed social media solution for Limra members to learn about and be successful on social media. In addition, Hearsay Social will be using Limra’s learning management system to deliver training and content to its clients.