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Imaginatik to Power Global Crowdsourcing Event Addressing Social Media Risk

BOSTON, Mass. – 22 March 2010 – Imaginatik plc (AIM:IMTK), the leading provider of Collective Intelligence software and services aimed at streamlining the Innovation and Idea Management process, will power an event that the Chubb Group of Insurance Companies will host at this year’s Risk & Insurance Management Society (RIMS) annual conference from April 25-29 in Boston, MA. The event will be driven by Imaginatik’s Idea Central, a robust and scalable web-based enterprise crowdsourcing platform that allows organizations to maximize the benefits from the Collective Intelligence of their employees, customers, suppliers and other third parties.

Social media utilization is becoming a standard for enterprises. A recent Burson-Marsteller study found that 79 percent of the largest 100 companies in the Fortune Global 500 index are using at least one of the most popular social media platforms: Twitter, Facebook, YouTube or blogging. However, this does not take into account the compliance risks associated with the use of social media from an employer's perspective.

This interactive, worldwide discussion on social media risk management hosted by Chubb will officially kick off on April 25 in conjunction with RIMS. Participants can register now. The event, which aims to identify and reduce the emerging risks businesses face as a result of engaging in social media platforms, will involve individuals and business professionals around the world, as well as RIMS conference attendees.

"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.”

"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."

Via computers and mobile devices, participants in the social media event will be able to share and collaborate on social media risks, their impact on business, and risk mitigation strategies. Chubb will also award prizes to the 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.

According to a survey conducted by British research firm Sophos, 72 percent of firms believe their employees’ activities on social networking sites could endanger their business’ security. Clearly, efforts to reach a balance in the face of social media risk and reward can be daunting as the push for openness, transparency and collaborative innovation becomes a major focus for corporations looking to gain a competitive edge. The social media event will map out the risks and rewards inherent in adopting a social-media savvy business culture from which best practices in implementing social media strategies can be drawn.

Although the event will officially begin April 25, risk managers and other business people are encouraged to register online now at https://chubbsocialmedia.imaginatik.com. The first 500 people to register will receive a free download of “Perfect Blue,” the new album from Dave Carroll, creator of the “United Breaks Guitars’’ music video on YouTube.

To learn more about how Chubb has already utilized Imaginatik’s Idea Central to identify viable revenue opportunities by tapping the collective intelligence of 35 percent of Chubb’s 10,000 employees, please review the case study.

For further information please contact:

Imaginatik plc
Tel: +1 866 917 2975

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 www.imaginatik.com.

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 www.chubb.com.