Managing Social Media Risk

The Chubb Group of Insurance Companies will host an interactive, worldwide discussion on social media risk management during this year’s Risk & Insurance Management Society annual conference April 26-29. Using online collective intelligence software developed by Imaginatik, individuals and business professionals around the world, along with registrants to the Boston conference, are invited to join a dialogue that aims to identify and reduce the emerging risks businesses face as a result of Web 2.0 platforms like Facebook, YouTube, Twitter and corporate blogs.

“When musician Dave Carroll posted his video on YouTube chastising an airline he accused of breaking his guitar, the power of social media resonated loud and clear for many business people,” said Jon Bidwell, chief innovation officer of Chubb. “Businesses are tapping that power to enhance their brand awareness and deepen their engagement with customers and other constituents. This continuous dialogue also creates substantial risks, which companies are wrestling with throughout their organizations, from HR to IT to legal and marketing.”

“Businesses today are facing a complex problem: how to leverage the benefits of social media without jeopardizing established rules and regulations,” said Mark Turrell, CEO of Imaginatik. “With today’s Web tools already affecting the way in which businesses interact with customers, employees and partners, there’s no better time than now for an event aimed at addressing the potential risks and rewards in social media engagement.”

Participants will be able to share and collaborate on ideas about social media risks, their impact on business and risk mitigation strategies via personal computers, BlackBerrys, iPhones and other smartphones. They will be joined by Chubb underwriting, loss control and claims staff with knowledge of social media risks, as well as special guest thought leaders from the legal, marketing, information technology, security and other fields.

Although the event will begin on April 26, risk managers and other business people are encouraged to register online now at The first 500 people to register will receive a free download of “Perfect Blue,” Dave Carroll’s new album. Chubb also will award prizes to participants who submit the most ideas and whose ideas generate the greatest amount of collaboration. The prizes include cash donations to charities, ranging from $500 to $2,000, in the names of the top three scoring participants.

“We’ve had a great deal of success using social networking technology to help develop ideas and drive innovation within our own company and with our agents and brokers,” said Bidwell. “With this event, we hope to engage business leaders and risk managers in a bigger discussion that can help us all navigate the rapidly-evolving, exciting global environment created by social media.”

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About Chubb

The member insurers of the Chubb Group of Insurance Companies (NYSE: CB) form a multi-billion dollar organization providing property and casualty insurance for personal and commercial customers worldwide through 8,500 independent agents and brokers. Chubb’s global network includes branches and affiliates in North America, Europe, Latin America, Asia and Australia. More information on Chubb is available at

About Imaginatik

Imaginatik provides innovation management and collective intelligence solutions. The best companies in the world use Imaginatik’s Idea Central software platform to identify and develop the important ideas and strategies that will drive the future of their businesses. For more than 10 years, Imaginatik has helped customers, including CSC, Pfizer, Boeing, Chubb and Cargill, achieve outstanding results with the know-how of its experienced consulting team and highly configurable Web-based software.

Imaginatik is a public company traded on the London Stock Exchange (LSE: IMTK.L) and a World Economic Forum Technology Pioneer with offices in Boston and London. Imaginatik is committed to ongoing research into the nature of human networks, innovation and collective intelligence. The company collaborates with several academic institutions, including the IXL Center at Hult International Business School. For more information on Imaginatik, visit