As an insurance executive, you know that unexpected events can happen at any time. One such event is a mass outage, which can cause significant disruptions to businesses and individuals alike. Recently, BT Group PLC subsidiary Plusnet experienced a mass outage, leaving many of its customers without internet access. This event serves as a reminder that mass outages can happen to any company, and it’s essential to be prepared. In this post, we’ll provide you with tips on how to handle a mass outage and minimize its impact on your business.

1. Communicate with your customers The first step in handling a mass outage is to communicate with your customers. Let them know what’s happening, what you’re doing to resolve the issue, and when they can expect service to be restored. Use all available channels, such as social media, email, and phone, to keep your customers informed.

2. Have a backup plan Having a backup plan in place can help minimize the impact of a mass outage. Consider investing in backup generators, redundant internet connections, and other technologies that can keep your business running even during an outage.

3. Review your insurance coverage Review your insurance coverage to ensure that you’re protected in the event of a mass outage. Consider adding parametric insurance to your coverage, which can provide payouts based on predefined triggers, such as the duration of an outage or the number of customers affected.

4. Conduct regular drills Regular drills can help you prepare for a mass outage and ensure that your backup plan is effective. Conduct drills with your employees, test your backup systems, and identify areas for improvement.

5. Work with Riskwolf Working with Riskwolf can help you turn real-time data into insurance. Using unique real-time data and dynamic risk modeling, Riskwolf enables insurers to build and operate parametric insurance at scale. With Riskwolf, you can be confident that you’re prepared for a mass outage and other unexpected events.

In conclusion, a mass outage can be a significant disruption to your business, but with the right preparation and insurance coverage, you can minimize its impact. Communicate with your customers, have a backup plan, review your insurance coverage, conduct regular drills, and work with Riskwolf to ensure that you’re prepared for any eventuality. To learn more about Riskwolf and how we can help you prepare for a mass outage, visit our website at Riskwolf.