Social media moves at the speed of a whisper these days, which is why hushed information—personal prejudices, corporate moves—can be a secret one minute and twirling across the Twittersphere the next, changing lives and reputations.
Executive SummaryInsurers need to take their own advice when it comes to addressing corporate reputations in a faster moving world. Key strategies range from enlisting employees as ground troops and brand ambassadors to improving governance of reputational risk at the board level, experts say.
It’s why insurance companies, which are more used to selling reputational protections, should be looking inward at their own reputational risks, industry experts say.
The recent case of L.A. Clippers co-owner Donald Sterling should encourage insurance carriers to take a hint from their crisis management advice: Intimate thoughts Sterling detailed on audio tape found their way into the social media stream, ending his association with the NBA virtually overnight. It happens that fast.
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