New reputation insurance will protect businesses' image
In the second week of January 2016, the insurance company Topdanmark announced that in collaboration with SAFEonNET®, they can now offer a shitstorm insurance to their small and medium-sized business customers. The insurance, which protects companies against so-called "shitstorms" and negative online reviews, comes at a time when the need to protect a company's reputation has never been greater.
In the second week of January 2016, the insurance company Topdanmark announced that they, in collaboration with SAFEonNET®, can now offer a shitstorm insurance for their small and medium-sized business customers. The insurance, which protects companies against a so-called “shitstorm” and negative publicity online, comes at a time when the need to protect companies' reputations has never been greater.
2015 truly became the year when the digital “shitstorm wave” crashed down upon us, affecting both large and small businesses that have painfully had to realize the damage a shitstorm can do to both the credibility, brand value, and not least the finances of companies.
The need to protect one's reputation particularly pertains to smaller businesses. If potential customers or partners find negative reviews about a company, a poor impression is left, and customers turn to competitors. Here, larger companies are often better equipped to protect themselves, so a shitstorm insurance will particularly benefit the smaller enterprises.
“At Topdanmark, we are pleased about the launch of our new shitstorm insurance – not least because we can offer our business customers a protection that can ensure their survival should they find themselves in a shitstorm. The fact is that publicity can be either well-deserved or undeserved, but often it arises from misunderstandings. This means that just one mistake or misunderstanding in a restaurant or at a construction company can result in a bad review that can spread like wildfire through social media. This can ultimately lead to the entire company having to close down,” says Lars Hem Simonsen, who is the business director at Topdanmark.
The innovative agency SAFEonNET® launched in early 2015 a safeguard against negative publicity in subscription form for Danish companies, which has now been further developed into the shitstorm insurance in collaboration with Topdanmark.
“We are incredibly proud of the agreement with Topdanmark, and that we have been able to provide the foundation for Denmark's first shitstorm insurance for Topdanmark's business customers. Without the collaboration with Topdanmark, which has over 50,000 business customers, we would not have been able to get this insurance off the ground to the same extent,” explains William Atak, CEO of SAFEonNET®.
For an amount starting from 845,- kr. annually, businesses can insure themselves against negative publicity online. The shitstorm insurance functions like other insurances. Should the company be subjected to negative publicity or a shitstorm online, the company has the option to report the damage, after which a team of experts will take over and manage the negative publicity. And for particularly the small businesses, there can be a lot of money to save should the unfortunate happen.
In the picture, William Atak and the team at Topdanmark, who have been involved in the development of the shitstorm insurance, are seen.
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