Just a quick update today. . .
The Chubb-sponsored social media discussion I mentioned last week will continue through May 14. I’m not affiliated with Chubb in any way, but I’m pleased to see that they’re taking this initiative. I’ve enjoyed reading the comments in the various idea threads so far.
Here are a few of the themes I’ve found particularly interesting, along with a description of each taken directly from the idea thread:
“Social media response team”
Social media attacks are completely unexpected and the company often doesn’t have an immediate plan for response. To mitigate this problem, provide customers a social attack response team or team strategy. This will insure should “the worst” happen, a company has an immediate team of experts available to support their mitigation efforts.
“Inverse Case Study – company policy protects the employee”
Personally, the rare-but-mortal nature of this risk suggests to me that it’s appropriate for the company to sever overt connections between its people as employees vs as private individuals. In this case that could mean not allowing them to log in to social sites with their acme.com address, and/or to coach them not to engage any extreme or ranting sites in a way (name, address, etc) that could make them a target of extremists.
“Restraining Risk With an Arrow in our Quiver”
Insurance companies should begin offering policies with coverage for claims that a company may incur as a result of actions through Social Marketing. This would suppress some of the risk taken by companies that are “green” to this technology, which would increase the amount of users, as well as open a new area of competition within the insurance industry.
“Social media in a corporate environment = work dodging”
The risk is that upon making a social media tool available to people within a corporate environment that the tool is misused and becomes a ‘place that people go’ when they are work dodging. Whether this actually occurs or not, the problem is that managers, supervisors and senior people within the organisation will see it this way. So this could be a perception risk, but there is probably some reality in it also.
There are many more idea threads in progress at the discussion event site. If you have ideas or comments, I would encourage you to sign in and participate. It’s free. Feel free to share your views here as well.
I personally think it would be valuable to continue these discussions indefinitely. There is no reason, in this era, that these discussions have to take place during a finite time period like a traditional live event. Based on the comments I’ve personally received here on this blog (both public and private) as well as topics I’ve seen in discussion groups on LinkedIn, I can say that there is a great deal of interest in discussing the risk management side of social media.
In our efforts to reduce the downside of social media, let’s embrace its openness to connect as many smart minds as possible.