Reputation strategy is a lot like mixing a cocktail. This is because reputation emerges from social relationships between creators and their stakeholders, whether customers, employees, vendors, creditors, investors, regulators, and social license holders…or thirsty friends. We know a thing or two, and we’ve shared them in hundreds of articles, a few videos, and three books: Mission: Intangible (2010); Reputation Stock Price and You (2012); and the Illustrated Guide to Reputation Risk Management (2021).
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Steel City Re Reputation Strategy Services
Steel City Re’s strategic reputation risk services include parametric reputation risk insurances and advisory services using a risk management framework informed by behavioral economics. Fully deployed, the solution tells stakeholders a simple, credible and completely convincing story that manifests in measurable benefits including stock price and credit cost optimization; reduced fines; successful Caremark defense pleadings; and more.
A successful reputation risk management strategy, CSR strategy, or ESG strategy enables a firm to tell its stakeholders an authenticated story that it is exercising superior governance and is in a state of managerial control over that which is mission critical. The journey to this valuable state, which ends with insurance-driven authentication, begins with an assessment of the current state of the enterprise reputation risk management apparatus; i.e., its governance, leadership, controls, and insurance.
The benefits of the journey whose endpoint is an authenticated story stakeholders can appreciate and value are material:
- improved risk management efficiency and reducing costs by reducing the severity of certain E&O and D&O exposures from derivative and securities litigation;
- improved board oversight of mission-critical issues outside the usual scope of operational, legal, and financial risks in a Caremark post-Marchand world;
- improved the management and mitigation of Jack-in-the-Pandora’s-Box of risks that run across the enterprise;
- better integrated the risk management and communications functions to improve ESG implementation; and
- elevated the brand, improve the P/E multiple, and boost equity value.