As an insurance executive, you know that unexpected events can happen at any time. One such event is an outage, which can affect your customers' ability to make calls and access important services. In this guide, we’ll show you how to handle an outage and protect your business and customers.

According to a recent article by Greg Brobeck, AT&T experienced an outage that affected some mobile customers' ability to make phone calls to customers of other mobile carriers. While the issue has been resolved, it’s important to be prepared for similar events in the future.

Step 1: Assess the Situation

The first step in handling an outage is to assess the situation. Determine the scope of the outage, the cause, and the potential impact on your business and customers. This information will help you make informed decisions and communicate effectively with your team and customers.

Step 2: Communicate with Customers

Communication is key during an outage. Keep your customers informed about the situation, the steps you’re taking to resolve it, and any alternative options they may have. Use multiple channels, such as social media, email, and text messages, to reach your customers and provide updates.

Step 3: Activate Your Business Continuity Plan

Your business continuity plan should outline the steps you’ll take to maintain essential services and operations during an outage. Activate your plan as soon as possible to minimize the impact on your business and customers. Make sure your team is aware of their roles and responsibilities during an outage.

Step 4: Review Your Insurance Coverage

Review your insurance coverage to ensure you’re protected in the event of an outage. Consider adding parametric insurance to your coverage, which uses real-time data to trigger payouts based on predefined parameters. This can help you quickly recover from an outage and minimize the financial impact on your business.

Step 5: Learn from the Experience

After the outage has been resolved, take the time to review what happened and identify areas for improvement. Use this experience to update your business continuity plan, improve your communication strategies, and enhance your insurance coverage.

At Riskwolf, we specialize in helping insurance executives prepare for unexpected events like outages. Our unique real-time data and dynamic risk modeling enable insurers to build and operate parametric insurance at scale. Contact us today to learn more about how we can help you protect your business and customers.

Original article: AT&T says outage affecting customers’ ability to make calls is resolved