THE TMC ROLE IN MANAGING TRAVEL RISKPresented by Europ Assistance USAAugust 6, 2014

TMCs & Travel Risk Management (TRM) Overcoming Common Objections Client Case Study

AGENDA

TMCs AND TRAVEL RISK MANAGEMENT

INCREASING FOCUS ON TRAVEL RISK MANAGEMENT

Not “if” something happens,but when

KEY ELEMENTS OF TRAVEL RISK MANAGEMENT

Prevention Travel Risk Intelligence Pre-Travel Training Crisis Management

Planning

Monitoring

Traveler Tracking Travelers Alerts & Client

Notifications Active Medical Monitoring

Response 24/7 Medical &

Security Response Advice, Assistance

and Evacuation

COMPANIES NEED GUIDANCE

of companies say they don’t have a TRM program in place.1

63%

COMPANIES NEED GUIDANCE

WHY? Don’t believe “it” will happen Don’t feel legally obligated Need help where to start

1. A 2011 poll of companies by StarCite http://www.executivetravelmagazine.com/articles/corporate-travel-safety

YOUR CLIENTS WILL LOOK TO YOU FOR SOLUTIONS

As companies become more aware of their duty of care responsibility, their TMCs are a natural resource to provide a solution.

OVERCOMING COMMON OBJECTIONS

MOST COMMON OBJECTIONS

I can’t afford a TRM program.

We don’t need a TRM program. We’ve managed fine so far.

I already have a Business Travel Accident policy, so I’m covered.

“I can’t afford a TRM program.”

Not having a solution costs more.

NOT HAVING A SOLUTION COSTS MORE

One incident can cost more than a travel risk management program

Disruptions to business travel = lost productivity and waste

Ad hoc, uncoordinated response = lost time, credibility and trust

Not meeting duty of care = increased liability

THERE IS A LOT AT STAKE

of cases lost by employers who were sued by an employee (or his/her survivors) over failure to provide duty of care.1

1. Garry Vardon-Smith, senior security advisor for the Americas with Red 24, a global security firm http://www.riskandinsurance.com/story.jsp?storyId=533337737 2. Dr. Lisbeth Claus, human resources professor at Willamette University http://www.executivetravelmagazine.com/articles/corporate-travel-safety

of employees who would consider taking legal action against their employer in the event of a mishandled emergency.2

87% 50%MORE THAN

“We don’t need a TRM program. We’ve managed fine so far.”

Your existing situation likely has costly gaps.

GAPS EXIST IN COMPANIES’ TRM PROGRAMS

No pre-travel training or briefings 82%No formal emergency or

communication plan 81%No tracking of international travelers 66%

No pre-authorization for travel to high-risk locations 66%

Source: May 2012 study by ORC International on behalf of Europ Assistance USA

“I already have a Business Travel Accident policy, so I’m covered.”

Business Travel Accident alone is NOT a TRM program!

TRM IS MORE THAN RESPONSETypical BTA TRM

Pre-trip intelligence MAYBE YES

Travel assistance YES YES

Medical assistance & evacuation YES YES

Travel security awareness training __ YES

Traveler tracking __ YES

Proactive security alerts __ YES

Security assistance & evacuation __ YES

Decision-making authority and control __ YES

Full access to ongoing status updates during an incident __ YES

Reporting on program activity __ YES

Dedicated hotline for company employees __ YES

Customized response protocols __ YES

Customized portal with company-specific messaging __ YES

CONSIDER THIS:

An organization has 10 employees traveling together in a van when the van is t-boned by a bus in Italy. All 10 require emergency medical treatment.

CONSIDER THIS:

They only have a basic business travel accident insurance policy, not a full Travel Risk Management program…

WITH A BTA PROGRAM ALONE…THERE IS NO REAL RISK MANAGEMENT

No Information

Company didn’t know about the incident until family members called.

They had no way of knowing how many

employees were impacted.

No Coordination

Company wasn’t included in the

management of the cases involving their

employees.

No Integration

No ability to tap into multiple policies to coordinate benefits and save money.

No Control

The insurance company made all

case management and evacuation decisions,

not the company.

QUESTIONS?