Swiss Life has just announced the launch of a new insurance product destined to protect the reputation of an individual. Swiss Life E-Reputation has been developed in partnership with Reputation Squad, specialist in reputation management on Internet, and is for now only available to individuals in France. This product provides financial, legal and technical resources to protect anyone in case of violation their reputation on Internet.
The fast growing online tools to inform and share, as well as the speed with which the information is disseminated by other web suffers has increased the risk related to one’s reputation.
According to a survey performed by Harris Interactive on behalf of Swiss Life (May 2011), if nearly half of the web users surveyed fear the consequences of information being disseminated without their consent, 72% would not spontaneously know what to do to remove it.
This is how Swiss Life has come to develop this new type of insurance.
“Googling” someone such as friends, family or colleagues has become today something common. It seems that 57% of web users recognise having already conducted such a form of investigation on a friend and 47% on a colleague. The impact of an individual’s negative reputation spreads fast. The control of private data online is near impossible; 66% of web users are aware of this risk which concerns addresses, phone numbers, banking details, etc.
Thus a majority of Internet users are aware of the risks and again, a majority of them do not know how to react in such a case where their reputation online is damaged.
Swiss Life is used to being present online, with products sold on internet and having clients use Internet directly through Swiss Life sales forces and distribution channels. With their constant drive towards innovation in day to daty life, hey have understood the risk related to online reputation but also that this risk was not yet covered. The costs associated to correct the wrongdoings are often too high (an average of 2,000 to 3,000 EUR) and victims of reputation related issues decide to not repair the problem. It is in this sense that the insurance company has decided to think up a good protection for these people. Swiss Life E-Reputation covers the risk of reputation by the dissemination through Internet of the following (if harmful and without consent of the individual) :
– Denigration
– Insults
– Defamation
– Statement publications
– Written content
– Photos and videos
Actions to re-establish a reputation can lead to court. This product covers legal fees and is shouldered by a specialist legal firm (CIVIS). Reputation Squad is in charge of removing all content or drowning the information. These actions include the identification of those responsible for publishing the contents (bloggers, web hosting agencies, etc.) and determining the legal approach.
This product is focused on individuals, in particular students nearing the end of their studies, families, employees and executives. The cost of Swiss Life E-Reputation is 9.90 EUR (8.69 GBP) per month for the subscriber and he subscriber’s family, for a 10,000 EUR (8,779 GBP) maximum payout.
Source : Swiss Life
