Management of a new Web site said it is offering insurers and other companies the ability to store vital data in an online lockbox, accessible from any computer to ensure business continuity after a catastrophe or loss of an employee.
"Everyone tells you to have a plan, but no one tells you how to do it," said Gerry Printz, co-founder of 20/20 Innovations, which operates the 20/20 Planner site.
This program should "help insurers in feeling like they have reduced the risk of insuring a small business," said Mr. Printz, adding that "they are often a small business, too," and can benefit from backing up all of their information.
A business cannot survive on a "canned response," because there is no way to know what aspects of a business will be harmed in every circumstance, said Mr. Printz.
The site asks users for about 25 categories of specific information that they may not realize they need to know in the case of an emergency, for example: payroll information, monthly payment schedules, creditors, suppliers, bank information, permits, necessary documents, tax information, photographs, videos, passwords and employee information.
Only the client will have access to the information. Note that even 20/20 Innovations will not have access to the information. If the password is lost, the company must start archiving from scratch.
There are currently 1,000 users, and the company anticipates between 20,000 and 30,000 users by the end of the year, according to Mr. Printz.
The program is designed for "backing up the knowledge that makes your business run," he said. When "all the [company] knowledge is in a few hands," this program makes it possible to access the necessary information to "keep business running under any circumstances," Mr. Printz added.
Because "small business is more at risk than big business," it is necessary to have access to all the secure information in one organized spot, according to Mr. Printz. The program will not only help with business continuity, but will also help insurers and policyholders determine exactly what damage occurred when.
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