IndiGo Airlines, India’s largest carrier, recently issued a travel advisory to passengers warning of delays and disruptions due to a temporary system slowdown affecting its entire network. The airline acknowledged that the issue is impacting its website and booking systems, leading to longer wait times and slower processing at airports. As a result, customers may face increased wait times, including slower check-ins and longer queues at the airport. source

As an insurance executive, you understand the importance of being prepared for unexpected events. However, even the most well-prepared companies can face disruptions that impact their operations and customers. Here are some common statements that insurance executives may make in response to such disruptions, and what they should do instead:

1. “We didn’t expect this to happen.” Instead, insurance executives should always have contingency plans in place for unexpected events. This includes having a crisis management plan that outlines how the company will respond to disruptions and communicate with customers.

2. “We’ll just have to wait it out.” Instead, insurance executives should take proactive steps to minimize the impact of disruptions on their customers. This may include offering alternative options for customers, such as rescheduling flights or providing refunds.

3. “We don’t have the resources to handle this.” Instead, insurance executives should invest in the necessary resources to ensure that they can respond quickly and effectively to disruptions. This may include hiring additional staff or investing in new technology.

4. “We’ll deal with the fallout later.” Instead, insurance executives should prioritize their customers' needs and work to minimize the impact of disruptions as much as possible. This may include offering compensation or other forms of assistance to affected customers.

5. “We can’t do anything about it.” Instead, insurance executives should take responsibility for disruptions and work to find solutions that benefit their customers. This may include partnering with other companies or organizations to provide alternative options for customers.

In conclusion, disruptions can happen to any company, including insurance companies. However, by being prepared and taking proactive steps to minimize the impact on customers, insurance executives can ensure that their company is able to weather any storm. If you’re an insurance executive looking for ways to better prepare your company for unexpected events, consider working with Riskwolf to develop parametric insurance solutions that can help you turn real-time data into insurance. With Riskwolf, you can build and operate parametric insurance at scale, ensuring that your company is always prepared for whatever comes its way. Learn more about how Riskwolf can help your company stay ahead of the curve.