Sunday, 26 April 2009

Does AIG have the worst reputation in the world?

According to the social evaluation platform Vanno, the answer to the question above is a firm yes. Vanno has been systematically watching the shoes fall at the American Insurance Group (AIG) by looking at a number of reputation bottom-dwellers. The Vanno blog documents the decline of the major American insurance corporation and correlates it to the events of the last six months.

This graph shows the downward trend in AIG's reputation over the six months, along with the most popular AIG-related stories. It is interesting to see how individual events combined to affect reputation. The realization that AIG had burnt through most of the initial bailout money and needed more conspired with tales of luxury junkets to hammer the company’s reputation in the November 2008 timeframe. Subsequent revelations about ongoing lobbying and support for anti-labor legislation, however, only exerted modest additional downward pressure.

The coup de grace was the perfect storm of retention bonuses and the fact that much of the bailout money given to AIG went to other banks - including a number of foreign ones - to pay derivative-related insurance polices at 100 cents on the dollar.

And just how far has AIG fallen? Essentially to the bottom of the 5800 company index that Vanno has set up. AIG is now ranked with the likes of Halliburton, IndyMac Bancorp and Chrysler.

Vanno ( is an online social evaluation platform that captures trends in gossip, news, opinion and personal insight about companies and brands and converts them into a Company Reputation Index. Designed to turn a brighter light on the behavior of the companies that inhabit our lives, Vanno gives customers, employees, communities, business owners and concerned citizens a forum to engage in civil dialogue. Vanno was founded in 2007 and launched its public beta in October 2008. Vanno is headquartered in San Francisco and was founded by Nick DiGiacomo and Landon Clark.

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