What are travel risk management companies?
Travel planning and risk assessment
- Threat identification: you want a platform that’ll help you identify issues
- Contingency planning: for if something comes up unexpectedly
- Itinerary management: so your employees don’t have to worry about the details of their travels
- Risk assessment: to understand potential risks and how to deal with them
Protection for employees and corporations
- Responsive security intelligence: for proactively monitoring global incidents
- Employee tracking: for locating and monitoring traveling employees
- Operational support: for quick evacuation and meeting obligations to care for your employees in real-time
Reaction and recovery in case of crisis
- Response management: to plan crisis management for emergency situations
- Incident logging: to identify common travel risks and map areas of failure
- Crisis support: to support employees during natural disasters or any other crisis
- Business continuity: to mitigate impacts and ensure operations continuity
- Medical assistance: to coordinate and manage medical treatment for employees
- Damage limitation: to cover employee injury or property damage
Governance to ensure you’re following all the rules
- Risk tolerance: to identify acceptable risk levels
- Duty of care obligations: for fulfilling legal obligations to keep employees safe
- Document stakeholder engagement: to facilitate the right discussions
Does my company need a travel risk management company?
- Common risks: some of the most common risks that employees face during foreign travel include terrorism, local law compliance requirements, country entry requirements, natural disasters, money, political instability, and health.In order to avoid encountering any of these issues, you’ll need to keep up to date with travel advisory updates for the destination country.
- Health risks: medical emergencies can strike at any time, and medical standards vary depending on which part of the world your staff are in. Businesses must provide employees with sufficient travel medical insurance and other preventive measures before the trip begins.Also, make sure your insurance covers any pre-existing conditions of your traveling employees.
- Immigration and customs risks: global mobility planning is another area that needs attention. As an organization, it’s your duty of care obligation to help employees obtain the correct visa, provide proof of accommodation, trip purpose, and departure details. Be familiar with custom authority requirements as policy violation runs the risk of item confiscation, arrest, or deportation.
- Local legislation risks: traveling employees need to be aware of the local laws of the country they are traveling to. Ignoring these laws may end in penalties and even criminal offenses.
Features to look for in a travel risk management company
- Data-driven insights: does the company allow you to enhance employee experience with forecasts from existing data sources? Does it collect information on your corporate travel to help improve your experience? Having these insights enables you to predict potential issues, offer solutions, and reduce travel plan changes.
- End-to-end assistance: a travel risk management solution provider should be able to handle end-to-end processes, from pre-travel approvals to post-travel analysis. This will help you to get a complete picture of the risk management workflow.
- Accessible and flexible: you should also evaluate if your traveling employees can access the risk management portal in real-time. Your ideal platform should be able to help you minimize travel costs while ensuring employee safety. Also, look out for flexible solutions—it's important to opt for an agile solution.
The best travel risk management companies
1. TravelPerk
- FlexiPerk: FlexiPerk allows business travelers to book flights, hotels, and cars that can be cancelled quickly and easily–with 80% of the fare refunded. It enables organizations to book freely in the knowledge they’re protected if plans change.
- Pre-travel planning: TravelPerk’s TravelCare offers real-time alerts, updates, and local guidelines so that you know what precautions to take before traveling. These alerts enable travelers to modify travel plans quickly and easily.
- Duty of care solutions: thanks to TravelPerk’s integration with International SOS, you can now ensure your traveling employees are fully covered. Get in-depth trip reporting and travel alerts, plus manage evacuation and auxiliary services—all from a single portal.
- Traveler tracking: TravelPerk’s built-in corporate travel tracker offers a 360-degree view of business trips and employee compliance. This helps businesses and travel managers with numerous teams on the go.
- 24/7 support: the on-demand travel support team works round the clock to answer your queries within a 15-second target response time. Get 1-1 concierge services, make group bookings, and manage business travel quick as a jet.
2. Collinson
- Core program: the core program is designed to fit your business needs by offering services such as pre-travel risk assessment, traveler tracking, advice, and support along with medical and security assistance
- Traveler assistance: Collinson helps you fulfill responsibilities and reduce risks with seamless traveler and wellbeing assistance solutions such as airport assistance, executive protection, identity assistance, digital healthcare, wellness, and global travel management
- Remote site assistance: Collinson also supports businesses with 24/7 security monitoring, remote medical assistance, traveler tracking, and occupational health services
- Risk consulting: corporate travel challenges vary depending on multiple factors. That’s why Collinson’s risk consulting offers custom planning, medical emergency response, risk screening, and evacuation planning solutions.
3. Anvil
- Travel risk success framework: Anvil doesn’t believe in a one-size-fit-for-all risk management approach. That’s why they use a travel risk success framework to create travel programs suitable for businesses with varying needs.
- Travel risk management technology: Anvil’s Riskmatics® platform helps businesses prepare for unforeseen events with 360-degree threat awareness and dynamic intelligence. The complete product suite offers real-time global data insights and offers needs-specific custom solutions.
- Travel risk management services: Anvil also offers a variety of services, including pre-travel assessment, journey management, travel policy consultancy, wellbeing programs, and safety advisory
4. FocusPoint International
- CAP™ travel assistance plans: these plans make your employees’ travel experience smoother with destination-specific information, on-time advice, and assistance. You can access the information on the web and mobile applications. Focus Point International also offers evacuation services that avoid the hassle of the claims process, reimbursements, or subrogation.
- Areas of focus: the expertise of the FocusPoint International team lies in travel risk intelligence, security evacuation, travel tracking, and medical evacuation. They closely work with insurance, travel, and corporate players to ensure a seamless employee experience abroad.
5. CWT
- Safety and security resources: CWT's cutting-edge technology lets you locate and support employees during an emergency
- Data security: the global cybersecurity team at CWT helps your employees navigate data threats and security issues. Their security awareness and compliance program ensure information confidentiality, integrity, and availability.
- International SOS: CWT has partnered with International SOS to offer extra support to corporate travelers from the LGBTQ+ community. They seek to ensure maximum risk mitigation with robust contingency plans to ensure your employees feel safe when traveling.
6. Corporate Travel Management (CTM)
- Traveler tracking: CTM enables organizations to track employees in real-time via travel itineraries
- Pre-trip risk assessment: CTM’s easy-to-manage pre-trip approval solutions allow you to create customizable pre-trip approval workflows. Such robust assessments help you reduce risks and travel costs.
- Travel risk alerts: CTM keeps travelers informed about potential travel risks via SMS, notification, or email
- Mobile booking and trip management: whether you want to enable employees to self-book trips or check travelers’ safety, you can do it all with a single click from the CTM mobile app
The best travel risk management apps
1. TravelPerk Trip Assistant app
- Book, manage, and report on global travel with TravelPerk’s full service platform available anywhere, anytime on your smartphone
- Get the latest travel safety information for every trip including details of health and vaccination requirements
- Dedicated Customer Care agents are on hand 24/7, ready to offer support and security assistance in emergency response situations
- Post-booking tracking and alerts for travel managers
- Access travel up-to-date requirement information by country
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See how TravelPerk makes business travel stress free
2. Egencia
- Overview of all corporate travelers and their details
- Custom travel alert messaging gives individual updates and delivers travel risk alerts via SMS for weather, travel restrictions and quarantine requirements
- Travel approvals for travel managers, allowing them to instantly approve travel no matter where they are
- Travel policy changes in the app allows travel managers to change their policies without needing to contact support teams
3. Athena Risk Management App
- In-country reports in near real-time to give travelers the latest security information
- Country assistance including travel check-in and safety requirements
- SOS assistance and a tracker that pinpoints travelers’ locations to within 20 meters and the ability to request emergency assistance 24/7 in case of a threat or natural disaster
- Multi-language selection for accessibility for app users all over the world
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