On October 5, IndiGo airlines faced a temporary system slowdown that affected their entire network, causing delays and longer wait times for passengers during check-ins. The disruption impacted the airline’s website and booking system, leading to increased wait times and longer queues at the airport. IndiGo assured customers that airport staff were available to assist and support travelers to make their journey as smooth as possible. The airline expressed regret for the inconvenience caused and thanked customers for their patience and understanding during this period.

This incident serves as a cautionary tale for insurance executives. As we move towards a more digital world, technical issues like these can have a significant impact on businesses. In this case, IndiGo’s system slowdown led to delays and longer wait times for passengers, which can result in a loss of revenue and damage to the airline’s reputation.

Insurance executives need to be prepared for such incidents and have a plan in place to mitigate the impact. One solution is parametric insurance, which uses real-time data to trigger payouts when specific events occur. For example, if an airline experiences a system slowdown that leads to delays and longer wait times, parametric insurance can provide coverage for the loss of revenue and damage to the airline’s reputation.

At Riskwolf, we enable insurers to build and operate parametric insurance at scale using unique real-time data and dynamic risk modeling. With Riskwolf, insurance executives can turn real-time data into insurance, providing coverage for incidents like IndiGo’s system slowdown.

In conclusion, IndiGo’s system slowdown serves as a cautionary tale for insurance executives. Technical issues can have a significant impact on businesses, and insurance executives need to be prepared for such incidents. Parametric insurance is one solution that can provide coverage for incidents like these, and Riskwolf can help insurance executives build and operate parametric insurance at scale. Don’t take chances with your business’s future. Get in touch with Riskwolf today to learn more about how we can help you protect your business.

(Source: Today News 24)