What is Travel Risk Management? Top 7 Ways It Will Help Your Organisation

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Discover how top travel risk management companies go above and beyond traditional travel insurance providers to help support corporate travellers and expatriates.

When it comes to corporate travel, nothing is as straight-forward as it seems.

No matter what your industry or field of study, unforeseen issues can derail even the most well-planned trip. It could be disturbances like cancelled flight or illness, or major situations such as civil unrest, terror attacks or a natural disaster. If this happens, how well equipped is your organisation to handle it and keep your staff safe?

The reality is, organisations with frequent or continuous travelling personnel not only have a duty of care to their employees or students, but they’re also required to manage a 24/7, 365-day a year risk map of activity. Without external support, this can be a daunting task.

What is Travel Risk Management (TRM)?

Travel risk management goes beyond the basic duty of care, providing companies with vital support for their business travellers, expatriates and employees.

While traditional business travel insurance policies may only cover costs should something go wrong, travel risk management companies help take on the responsibility of foreseeing where incidents may occur in addition to providing medical, travel and security assistance in case of an emergency.

Travel risk management companies help reduce stress for both risk managers and travellers by supporting them pre-, during and post-travel. Thanks to their industry expertise, cutting edge risk mitigation technology and 24/7 global support, global travel risk management capabilities and solutions are extensive.

Do you know if your organisation requires travel risk management support? seven key benefits of how it could help:

#1. Access important pre-trip travel advice for your destination

Organisations supported by a travel risk management company can access up-to-date, in-depth information about their destination rather than having to research themselves.

This can include:

  • How safe the destination is
  • Customs, rules or regulations that may need to be followed
  • Current political climate of the country and wider region
  • Immunizations required and any current health risks
  • Weather risks and natural disasters
  • Potential civil unrest or crime levels

“At World Travel Protection, our information and intelligence on a country, city or specific risk at a particular destination plays a huge role in an organisation’s assessment of whether its people should travel to a place, and if they can, what preparation is needed,” says Adrian Leach, World Travel Protection’s CEO.

#2. Receive training to prepare for the unexpected

en the most careful traveller can’t prepare for every potential risk while on the road. However, having the right knowledge and skills to deal with unforeseen situations as they arise could mean the difference between life and death for some.

Top travel risk management companies provide travellers with the relevant intelligence and skills to prepare them for potential incidents or mitigate risks, which helps limit the severity of an emergency.

“Our goal is to enable you and your travelling workforce to make smarter, safer choices,” explains Leach.

“At World Travel Protection, we run various kinds of awareness training so people travel more safely in general, and we can train or brief travellers to handle specific trips and the challenges those journeys might present.”

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“Our client’s corporate travellers can also access preventative training tools and materials before departure via our World Travel Protection Travel Assist App.”

#3. Make informed decisions with real-time alerts

If the COVID-19 pandemic has taught us anything, it’s that situations around the world can change drastically in a short amount of time. Receiving up-to-date information about changing conditions around the world is paramount to ensuring traveller safety, and travel risk management companies can provide this intel when it matters most.

“At World Travel Protection, we can help travellers and their risk managers make wise and confident decisions,” says Leach.

“Our 24-hour Command Centres continually assesses international threats and continually assess international threats and alert travellers to potential risks as they arise based on their uploaded itinerary and geo-location feeds. This information helps them make informed decisions about whether to continue with their trip or adjust their itinerary, allowing safer travel.”

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#4. Track your team in real-time

It goes without saying that it’s incredibly important for HR staff or risk managers to know where their travelling personnel are at all times. This need increases tenfold if personnel are deployed in regions with identified risks.

Our World Travel Protection geo-location technology is world-class and allows travel risk managers to know exactly where their travellers are at any given time. Using our Travel Assist Portal and Travel Assist App, risk managers and their travelling personnel can communicate with each other as well as our expert team 24/7 to help ensure they receive the support they need.

“We are the first port of call for both travellers and those responsible for them, as we can help ensure duty of care and assistance is provided at speed.”

#5. Travel risk management companies deal with incidents and emergencies for you

When a traveller has travel insurance, it’s often up to them to locate professional help in an emergency situation and/or make emergency alternate travel arrangements. Once the crisis situation is resolved, they then need to get in touch with their insurance company to claim compensation.

Travel risk management companies like World Travel Protection are with business and leisure travellers every step of the way on their journey – not only when they’re home safe and sound.

“For travellers, fatalities, severe illness and critical injuries can be extremely complex to manage, and the efficient communications and information flows are critical,” explains Leach.

When a traveller under the care of our World Travel Protection travel risk management services needs help, our expert medically trained team triage the initial first contact call, using medical best practice – followed by cost avoidance measures – to ensure they experience the right level of care in the right place at the right time.”

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#6. Receive efficient, top-level care

Travellers – and their HR managers – can rest easy knowing they’re supported by a top travel risk management company.

During our three decades within the travel risk management industry, our global World Travel Protection teams have built strong relationships with medical leaders around the world, which grants us access to a network of nearly 10,000 providers located on every continent.

If an incident or emergency occurs, our 24/7 emergency assistance Command Centres can work to immediately connect travellers in need with a suitable, quality medical professional near them. Our travel risk management support also includes ensuring there are no financial barriers, language barriers or miscommunication affecting the traveller’s care.”

“We can help manage a traveller’s treatment and understand if they’re in the right hospital,” adds Leach.

“If the traveller is facing a security threat – instead of a medical emergency – our teams can also provide travellers with the immediate advice they need to stay safe as well as assist in the coordination of a plan of action for them to reach a safety point,” says Leach.

#7. Save money

Costs can quickly add up when things go wrong – and expenses can quickly skyrocket if your travelling personnel don’t have the right support or know who to reach out to.  

Top travel risk management companies will have international connections and long-standing relationships with medical, security and travel professionals who can provide travellers with the care they need at a reasonable price.

“At World Travel Protection, we continuously strive to challenge, renegotiate and maximise the discounts provided by our global providers’ network,” says Leach

“At World Travel Protection, our 30+ years of experience means we can make well-timed decisions that can help to avoid many costs – and we continuously strive to challenge, renegotiate and maximize the discounts provided by our global providers’ network,” says Leach.

“This results in significant cost savings for our clients, without compromising on their travellers’ level of care.”

Looking for more information on travel risk management

We value the safety of your travellers as much as you do, and we also understand how to support you in providing duty of care for travelling personnel.

To learn more about how our World Travel Protection team can help you manage travel risks and make your employees’ or customers’ safety a priority, contact us today by filling out the form below.