X
Skip to main content
Suggested Searches

Spotlight on business travel

Essential things to know about ISO 31030

Travel risk management

Since the pandemic there is an increased awareness of business travel risks and the need for adequate preparations, including insurance. Clear legal obligations of employers and the growing complexity of global risks mean the basics are no longer enough. But how do you best protect your greatest asset – your employees?

THE INSIDE VIEW FROM RISK MANAGERS - BUSINESS TRAVEL RISK AND ISO 31030
THE INSIDE VIEW FROM RISK MANAGERS - BUSINESS TRAVEL RISK AND ISO 31030

A huge step forward in business travel risk management has been the emergence of ISO 31030 which provides organisations with a benchmark for assessing, building, and implementing an effective travel risk management framework.

Our Spotlight on Business Travel series provides practical tips, insight and advice from industry leaders and risk managers:

REPORT 1: Details how the ISO 31030 standard is a key tool to help any size of organisation put a realistic and comprehensive plan in place to cover all aspects of their travel risk management and provides a summary checklist for businesses looking to develop or evolve their plans.

REPORT 2: Gives an inside view from a survey of risk managers and interviews with companies such as Honda Europe, Capgemini and PwC about how companies are developing their business travel risk action plans, the benefits of using ISO 31030, the challenges and the best way to overcome them, and the roles and responsibilities around managing business travel risk.

24%
The amount spending on international business travel is set to increase by the end of 2023
Julia Graham
Julia Graham

“It is a set of guidelines providing a framework, not a template or prescription for managing travel risk. It has been developed by experts and you are getting the benefit of that intellectual capital.”

 

CEO, Airmic

Eight Key takeaways
Eight Key takeaways

1

ISO 31030 provides companies with a benchmark to assess, build, implement and review an effective travel risk management framework.

2

ISO 31030 is elevating the importance of duty-of-care, the involvement of more organisational roles, testing and training of a company’s business travel processes, and employee’s awareness and engagement of a company’s travel risk management procedures.

3

Companies should involve multiple stakeholders, including HR, IT, and line mangers in the development of travel risk management plans, and all should understand the risks and impact on the company’s duty of care.

4

A more forensic approach should be applied by companies to capture and account for the risks posed by business travel in their risk management framework.

5

The risk management function has a crucial role to play in securing senior leadership buy-in and ownership of the travel risk management plan.

6

Post-travel debriefings, testing, and training are important for improving travel risk management plans.

7

A company culture, set by senior leadership, where travel-related risk is taken seriously should be promoted to ensure that employees are fully understanding and aware of procedures and what help is at hand for them when abroad.

8

Insurers have shifted from a reactive to proactive approach and can play a partnership role in formulating a policy that fits a company’s needs to support a comprehensive travel risk management plan. 

THE REPORTS
Janene Blizzard
Janene Blizzard

“It is crucial that there is board level buy-in for a travel risk management plan and that the senior management can communicate the plan to the rest of the employees.”

 

Vice President Accident & Health, EMEA, Chubb

Talk to an expert
Talk to an expert

Find out more

If you are interested in finding out more about Chubb's travel risk management expertise and our business travel services and products, click below or get in touch.