Emergency Phone Services Restored: What Insurance Executives Can Learn from Singtel's Landline Outage
On October 8th, Singtel experienced an island-wide outage of its landline services, causing disruptions to emergency hotlines, customer service hotlines, and phone lines for major institutions such as hospitals and banks. The outage lasted for several hours, leaving many people unable to make important calls during an emergency.
As insurance executives, it’s important to learn from this incident and take steps to prevent similar disruptions in the future. Here are some common statements that insurance executives might make, and what they should do instead to ensure that their services remain reliable and accessible:
- “Our systems are secure and reliable, we don’t need to worry about outages.”
Instead: It’s important to regularly test and update your systems to ensure that they can handle unexpected disruptions. Consider investing in backup systems or alternative communication channels to ensure that your customers can always reach you in an emergency.
- “We don’t need to worry about landline outages, most people use mobile phones anyway.”
Instead: While mobile phones are becoming increasingly popular, landlines are still an important communication channel for many people, especially during emergencies. Make sure that your systems can handle disruptions to both landline and mobile networks.
- “We don’t need to worry about disruptions to customer service hotlines, people can always reach us online.”
Instead: While online communication channels are important, many people still prefer to speak to a real person during an emergency. Make sure that your customer service hotlines are always accessible, even during unexpected disruptions.
By taking these steps, insurance executives can ensure that their services remain reliable and accessible during unexpected disruptions. Additionally, consider investing in parametric insurance, which uses real-time data and dynamic risk modeling to quickly and accurately assess and pay out claims in the event of an emergency.
At Riskwolf, we specialize in helping insurers build and operate parametric insurance at scale. With our unique real-time data and dynamic risk modeling capabilities, we can help you turn real-time data into insurance. Contact us today to learn more about how we can help you prepare for unexpected disruptions and ensure that your customers always have access to the coverage they need.
(Source: The Online Citizen)