As an insurance executive, you know that unexpected events can happen at any time. One such event that can cause major disruptions for your clients is an internet outage. Recently, Time Internet experienced its worst downtime in history, affecting almost half of its customers. This incident highlights the importance of having a plan in place to handle internet outages. In this guide, we will provide you with a step-by-step approach to help you manage internet outages and minimize the impact on your clients.

Step 1: Identify the Cause of the Outage

The first step in handling an internet outage is to identify the cause of the problem. In the case of Time Internet, the outage was caused by its Secure DNS servers that went down. It is important to have a clear understanding of the cause of the outage so that you can take appropriate action to resolve the issue.

Step 2: Communicate with Your Clients

Once you have identified the cause of the outage, it is important to communicate with your clients. Time Internet acknowledged that it was slow in providing necessary information regarding the outage to its customers. As an insurance executive, you should have a plan in place to communicate with your clients in the event of an internet outage. This can include sending out email notifications, posting updates on your website, and providing a phone number for clients to call for assistance.

Step 3: Provide Alternative Solutions

During an internet outage, it is important to provide alternative solutions to your clients. In the case of Time Internet, some customers were able to overcome the outage by using alternative DNS addresses. As an insurance executive, you can provide your clients with a list of alternative solutions that they can use in the event of an internet outage. This can include using a mobile hotspot, switching to a different internet service provider, or using a backup internet connection.

Step 4: Consider Parametric Insurance

Parametric insurance is a type of insurance that pays out when a specific event occurs, such as an internet outage. With Riskwolf, you can turn real-time data into insurance. Using unique real-time data and dynamic risk modelling, we enable insurers to build and operate parametric insurance at scale. This can provide your clients with peace of mind knowing that they are protected in the event of an internet outage.

Step 5: Evaluate and Improve Your Plan

After an internet outage, it is important to evaluate your plan and identify areas for improvement. This can include reviewing your communication strategy, identifying alternative solutions, and considering parametric insurance. By continuously evaluating and improving your plan, you can ensure that you are prepared for any future internet outages.

In conclusion, internet outages can cause major disruptions for your clients. As an insurance executive, it is important to have a plan in place to handle these types of events. By following these five steps, you can effectively manage internet outages and minimize the impact on your clients. Don’t take chances with attention, get in touch with Riskwolf to develop parametric insurance for your clients. With Riskwolf, you can turn real-time data into insurance. Using unique real-time data and dynamic risk modelling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast.

Source: Time Internet outage affects almost half of its customers, said to be the worst downtime in its history