The team behind the world's first “shitstorm insurance” is now lifting the veil on a new global Reputation Center, which can help assess companies' value – or lack thereof.

In the spring, Danes became acquainted for the first time with the company SAFEonNET, which entered the market with the world’s first “shitstorm insurance.” The idea behind this so-called “shitstorm insurance” initially grew for the company from the idea of a Reputation Center that would generate data about companies' online reputation and value. Action has now followed thoughts, and the Reputation Center will soon become a reality.

With the new Reputation Center, which will have its power center in Copenhagen, SAFEonNET will contribute to providing global ratings of individuals' and companies' reputation and brand value, thereby assisting investment firms, companies, credit institutions, etc., in their work on valuation.

“It has been difficult to keep secret all this time, but it has been necessary to have peace and quiet around the project,” says William Atak and continues: “However, it has been tough to keep it close to the chest when what you are working on can impact and help so many people and businesses.”

Collaboration with the Council for Digital Security and the University of Copenhagen

The Reputation Center will, through mathematical, calibrated algorithms, be able to calculate individuals' and companies' Reputation Risk with great accuracy, i.e., the risk of acquiring a negative reputation based on their online reputation and brand. The formula to give a picture of companies' reputation and brand value is a method that SAFEonNET already uses in their daily work with companies' reputation and was also the inspiration for them to start the Reputation Center.

Director William Atak expects that the typical clients of the Reputation Center will be insurance companies, banks, investors, companies, and credit rating agencies, but he also believes it will be interesting for a wide range of other types of companies, such as auditing firms, ministries, individuals, and recruitment agencies.

“It has gone incredibly fast since it has become known what we are working on. Over the summer, among other things, we have been accepted into the Council for Digital Security, SAFEonNET has entered into collaboration with the world's largest insurance company AIG, and we have presented the project to CIBS (Center for Information and Bubble Studies) at the University of Copenhagen, which is interested in collaborating on our mathematical algorithms,” says William Atak.

Many stakeholders

The Reputation Center is still under development, and William Atak expects to open its doors to the outside world in the summer of 2016. The company is already experiencing increasing interest:

“Especially, we are currently having interesting dialogues with companies that work in the investment sector, as fluctuations on digital media can help predict positive and negative trends before they actually occur,” states William Atak, who looks forward to giving the new project an opportunity to take flight.