Risk Management Benchmarking: How North American Companies Use the Tools

A Global Business Travel Association survey found that 53 percent of companies offer both travel insurance and assistance services to their travelers. Meanwhile, 17 percent offer neither.

AIG, which sponsored the report, and GBTA surveyed 167 travel managers in the United States and Canada between March and April.

According to the survey, 20 percent of companies offer only assistance services, such as security and medical evacuation, referrals to local hospitals and medical providers, help replacing stolen documents, repatriation of mortal remains, prescription replacement, emergency cash transfers, identify theft assistance and interpreter services.

Among other risk management offerings, few companies use GPS-enabled tools, as that "level of risk management technology is typically reserved for frequent travelers to high-risk locations," a GBTA spokesperson told BTN.

Companies with more than 5,000 employees were more likely to offer all or most of the risk management tools above.

Seventeen percent of companies intend to offer risk management training in the next 12 months, GBTA's report on the survey showed. GBTA noted: "Just because employees are not going into traditionally high-risk zones does not mean they should not receive some level of risk management training, even when traveling domestically. … Business travelers should never leave the office without knowing exactly who to call and what to do should disaster strike."

The report advised companies to better inform travelers about the tools and services the companies provide: "Offering this does little good if employees do not know about it or fully understand the value of each product."