As an insurance executive, you know that unexpected events can have a significant impact on your business. One such event is an internet outage, which can disrupt your booking system, flight status updates, and customer support. This can lead to the cancellation of flights, inconvenience for travelers, and loss of revenue for your business. In this blog post, we will provide you with a step-by-step guide on how to minimize the impact of internet outages on your insurance business.

Step 1: Identify the Cause of the Outage

The first step in minimizing the impact of an internet outage is to identify the cause of the outage. In the case of Kenya Airways (KQ), the outage was caused by damage to the undersea cable by its internet service provider. As an insurance executive, you should have a clear understanding of your internet service provider’s infrastructure and redundancy measures to address interruptions.

Step 2: Set Up Alternative Support Channels

The next step is to set up alternative support channels for affected customers. In the case of KQ, the airline set up alternative support channels for affected customers to check flight status and other services. As an insurance executive, you should have a contingency plan in place to provide alternative support channels for your customers in the event of an internet outage.

Step 3: Communicate with Your Customers

Communication is key in minimizing the impact of an internet outage on your insurance business. In the case of KQ, the airline notified its customers of the outage and apologized for the inconvenience caused. As an insurance executive, you should communicate with your customers in a timely and transparent manner, providing updates on the status of the outage and alternative support channels.

Step 4: Implement Parametric Insurance

One way to minimize the impact of internet outages on your insurance business is to implement parametric insurance. Parametric insurance is a type of insurance that pays out when a predefined 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 modeling, we enable insurers to build and operate parametric insurance at scale. Simple. Reliable. Fast.

Step 5: Review and Improve Your Contingency Plan

The final step is to review and improve your contingency plan for internet outages. As an insurance executive, you should conduct regular reviews of your contingency plan to ensure that it is up-to-date and effective. You should also identify areas for improvement and implement changes to your plan accordingly.

In conclusion, internet outages can have a significant impact on your insurance business. By following these five steps, you can minimize the impact of internet outages on your business and provide your customers with the support they need. Don’t take chances with attention, get in touch with Riskwolf to develop parametric insurance for your business. For more information on the Kenya Airways ticket booking system outage, check out the original article.