{"id":164970,"date":"2025-03-03T13:13:26","date_gmt":"2025-03-03T13:13:26","guid":{"rendered":"https:\/\/www.itilite.com\/in\/blog\/\/"},"modified":"2025-03-12T07:02:19","modified_gmt":"2025-03-12T07:02:19","slug":"duty-of-care-with-advanced-travel-risk-management","status":"publish","type":"post","link":"https:\/\/www.itilite.com\/in\/blog\/duty-of-care-with-advanced-travel-risk-management\/","title":{"rendered":"Enhancing Duty of Care with Advanced Travel Risk Management Solutions"},"content":{"rendered":"
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‘Clients do not come first. Employees come first. If you take care of your employees, they will take care of your clients.\u2019 -Richard Branson.<\/em><\/p>\n\n\n\n

In 2024, global business travel spending reached $1.48 trillion. With this surge comes a growing responsibility for organizations to safeguard their employees. Employees travel throughout the year for various work purposes. However, one issue of utmost concern is their safety and risk management. <\/p>\n\n\n\n

From geopolitical tensions and natural disasters to health crises and cyber threats, the risks faced by business travelers are more complex than ever. Global Business Travel Association (GBTA)<\/a> found that traveler safety (40% )is the number one priority for companies. Many business travelers feel their company should do more to mitigate travel risks. Yet, many organizations lack the comprehensive travel risk management (TRM) solutions necessary to protect their workforce. <\/p>\n\n\n\n

Business travel is no longer just about booking flights and hotels. It’s about ensuring employee safety, security, and well-being at every journey stage. Whether it\u2019s an executive stuck in an airport or an employee caught in a natural disaster, companies must be proactive in addressing potential threats.<\/p>\n\n\n\n

So, how can organizations ensure they are proactively addressing these concerns? In this blog, we will help you understand risk management and its importance, some real-life examples, its key components, and more. <\/p>\n\n\n\n

The Growing Need for Travel Risk Management (TRM)<\/h2>\n\n\n\n

Business travel is a vast industry. With its evolution over decades, business travel spending also has increased. This means there is a huge responsibility on companies\u2019 shoulders to ensure their employees’ safety.  <\/p>\n\n\n\n

In a survey by Global Rescue, 90% of business travelers <\/a>have some level of travel safety concern.  According to Businesswire<\/a>, 65% of senior risk professionals perceive that risks have increased over the past year. 69% think geopolitical tensions will have a significant impact on their business or people in 2025.<\/p>\n\n\n\n

Did you know? 
Only 24% of companies <\/a>have a solid risk management plan.60% of CFOs<\/a> cite traveler safety as a top business risk.Travel disruptions have impacted both businesses and employees, leading to missed meetings, rebooking fees, and more. <\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Travel can be unpredictable. Travelers must navigate weather changes, geo-political impacts, or technical faults at any moment. Thus leaving them feeling helpless, confused, and frustrated. Hence, providing a duty of care with advanced risk management solutions is not just necessary but a process to be followed for years to come. <\/p>\n\n\n\n

You may also like <\/strong>13 Travel Risk Management Questions for Travel Managers<\/strong><\/a><\/p>\n\n\n\n

Key Components of Advanced Travel Risk Management Solutions<\/h2>\n\n\n\n

Implementing an effective TRM strategy requires a blend of technology, policy, and rapid response mechanisms. Here\u2019s how industry leaders are enhancing their duty of care:<\/p>\n\n\n\n

1. AI-Powered Risk Intelligence & Predictive Analytics<\/h3>\n\n\n\n

With the help of AI and predictive analytics, travel risk management<\/a> reanalyzes real-time data from a wide array of sources. These include news reports, social media, weather updates, government alerts, and proprietary databases. These tools provide forecasts for evolving risks before they escalate. Thereby enabling companies to proactively reroute a traveler or delay the trip entirely.<\/p>\n\n\n\n

Key features<\/h4>\n\n\n\n