While reputation is one of the most valuable assets of any business, reputational risks have traditionally been hard to quantify. And, like any risk, what’s difficult to measure can be tricky to protect with confidence.
Making high-level allowances for reputational risks on risk registers is no longer an adequate approach.
Our Reputational Risk Quantification Model eliminates the guesswork, enabling you to put a measured, appropriate and cost-effective program of risk transfer and management in place.
Quantifying your risk with a structured and evidence-based approach
We’ll work with you to establish an evidence-based value for the potential reputational damage that could be expected to follow incidents most relevant to your business.
Built on statistical analysis, events data and our many years of expertise in reputational risk, our Reputational Risk Quantification Model provides you with greater certainty, helping you to manage risk and stakeholders.
Key benefits
- Identify and quantify the reputational risks most relevant to your business.
- Establish a program of reputational risk protection with cover and premiums that accurately reflect the nature of your risk.
- Engage stakeholders in meaningful conversations about the nature and level of reputational risk your organization faces through its everyday business activities.
- Accurately balance the opportunities of commercial activities, promotional campaigns and business change with the potential reputational risks.
Sectors
Reputation is important in all sectors, but we specialize particularly in:
- Leisure and hospitality
- Retail
- Transport
- Charities and non-governmental organization (NGOs)
- Manufacturing
Take firmer control of your reputational risk management
While the value of reputation as an intangible asset is now widely appreciated, in many cases, establishing a figure you can put to the insurance market has been largely based on precedent.
“Our Reputational Risk Quantification Model means you can rely on insight rather than instinct when you go to market.”
David Bennett | Head of Reputational Risk Management Direct and Facultative
Our Reputational Risk Quantification Model means you can rely on insight rather than instinct when you go to market.
And since insurers respond positively to being presented with the broadest and deepest possible understanding of risk, being able to demonstrate a full and mature understanding of your reputational risk will help to secure the most competitive solution.
Develop reputation protection maturity
Using the tool to quantify your risk can help to build a better internal understanding of the need for risk mitigation strategies.
Rather than the business having a vague awareness of the value and power of its reputation, the tool makes what was previously intangible become tangible.
Now you’ll be able to point to evidence-based insight that shows your stakeholders what the balance sheet impact of a negative event could have on your reputation.
Benchmark against your competitors
While all underlying data is anonymized, the tool enables you to benchmark the impact of your reputational events against other organizations in your sector.
As well as helping you identify what you’re doing well and where you might need to improve, benchmarking can provide a powerful way to demonstrate your reputational risk maturity to the insurance market.
