The New Social Contract

Rich Harwood, blogger and founder of The Harwood Institute for Public Innovation tipped me to Hyundai's "Assurance" program.

The Hyundai Assurance program works like this: You buy a new Huyndai. Then, if during the next year you lose your income, Huyndai will take it back without a penalty. This kind of offer--unlike a price concession that helps move cars but does little to assure a buyer worried about meeting his or her future payment obligations--gets right to intersection of economic uncertainty and the need to sell goods and services.

The Hyundai Assurance program also takes a big step in linking Hyundai and its customers in a way that bonds them over the long term, much the way a family takes care of its own. Not surprisingly, the ripple is already growing on the Social Web.

You can watch the commercial, from Goodby Silverstein and Partners, that introduced the program on YouTube.