Understanding Travel Risk Management for Safer Business Trips

Corporate travel is roaring back — not as a shadow of its pre-pandemic self but as a reimagined driver of business growth and connections. In 2024, business travel booking volumes have surged to 118% of 2019 levels among long-term Navan customers, underscoring the resilience and evolving importance of in-person meetings. 

While technology continues to facilitate remote work, face-to-face meetings remain the cornerstone of deal-making, team-building, and company expansion.

But this resurgence comes with shifts in patterns and priorities. 

Internal meetings, office visits, and conferences have all claimed a larger share of travel purposes, signaling a rebalancing of corporate priorities. Meanwhile, blended trips — where employees extend business travel for leisure — have skyrocketed by nearly 275% year-over-year, reflecting the growing desire for balance in professional and personal lives.

Amid this transformation, the stakes for travel risk management have never been higher. Companies must adapt to these new realities with strategies that protect employees, manage costs, and support business continuity. 

Here’s how organizations can embrace modern travel risk management to meet the demands of this dynamic era.

Why Travel Risk Management Matters

The resurgence of corporate travel highlights the strategic importance of in-person meetings for business success and underscores the increasing need for robust travel risk management.

Business travel is inherently unpredictable. Health emergencies, geopolitical disruptions, and logistical issues are just some challenges companies face when sending employees on the road.

With proper planning and oversight, these risks can support employee well-being and maintain operations. According to a 2023 survey by Everbridge, a company specializing in critical event management — preparing for, responding to, and mitigating risks during emergencies — only 24% of organizations have a solid travel risk management program, as defined by the ISO 31030 standard. In other words, most companies are underprepared to manage travel-related risks effectively.

When implemented thoughtfully, travel risk management safeguards employees while minimizing operational downtime. For example, organizations with a dedicated risk strategy report faster recovery times during crises and higher employee confidence in corporate travel safety.

Identifying Travel Risks

Understanding the potential hazards of business travel is a critical first step in creating an effective travel risk management program. Risks can be broadly categorized into health, geopolitical, and logistical concerns:

Categories of Risks

Health risks: Business travelers may encounter region-specific illnesses, limited access to healthcare, or even global health crises like pandemics. According to the CDC, the cost of addressing an unplanned medical emergency abroad averages $10,000.

Geopolitical risks: Political unrest, terrorism, or sanctions can pose significant threats. Regions experiencing instability can disrupt travel plans or even put employees in danger.

Logistical risks: Weather-related flight cancellations, lost documents, or inadequate accommodations can help meet business objectives. These risks are among the most common and can often be mitigated with proactive planning.

Tools for Assessing Risks

• Government advisories: Websites like travel.state.gov provide real-time updates on travel restrictions and advisories by region.
• Risk management platforms: Services like International SOS or Navan’s risk assessment tools offer tailored insights into travel safety, including health updates and geopolitical analysis.
• Travel monitoring apps: Mobile apps allow travelers to receive alerts on weather, health risks, or political developments.

By identifying risks and leveraging these tools, organizations can create a robust strategy that reduces uncertainties and empowers employees to travel confidently.

Creating a Proactive Risk Management Plan

A proactive travel risk management plan is essential for safeguarding employees, delivering duty of care, and maintaining business continuity. This involves creating clear policies, implementing effective mitigation strategies, and preparing emergency response protocols that address various contingencies.

Policy Development and Communication

Establishing a comprehensive travel risk policy is the foundation of effective risk management. Policies should outline:

• Travel approval processes: Clear guidelines on who authorizes travel and under what circumstances.
• Destination risk assessment: Criteria for determining whether a location is safe for travel.
• Traveler responsibilities: Expectations for employees regarding safety measures, communication, and compliance with company policies.

Effective communication is equally important. Employees must understand the policies and where to access resources during travel. Pre-trip briefings and an easily accessible handbook help everyone be prepared. 

A 2023 study from International SOS found that 75% of organizations with well-communicated policies saw higher employee confidence in travel safety.

Risk Mitigation Strategies

Risk mitigation strategies are designed to reduce exposure to potential threats. Some common approaches include:

• Avoiding high-risk areas: Regularly update travel restrictions based on government advisories and global events.
• Pre-travel health precautions: Inform employees about potential vaccinations and the availability of health kits tailored to a destination.
• Secure accommodations: Partner with vetted accommodation providers to help ensure safety standards are met.
• Transportation planning: Arrange secure and reliable transportation options, especially in unfamiliar or high-risk regions.

By incorporating these strategies, businesses can minimize disruptions and enhance traveler safety.

Emergency Response Plans

A robust emergency response plan addresses unexpected incidents — from medical emergencies to natural disasters. 

Key elements include:

• Crisis management teams: Designate individuals or departments responsible for coordinating responses.
• 24/7 support: Provide access to emergency hotlines and travel assistance services.
• Communication protocols: Establish clear procedures for contacting travelers and stakeholders during a crisis.
• Evacuation plans: Prepare logistics for relocating employees from unsafe locations.

Regularly testing these plans through drills or simulations helps ensure preparedness and can reduce response times when incidents occur.

Role of Technology in Travel Risk Management

Technology is pivotal in modern travel risk management because it provides real-time insights, improves communication, and enables rapid responses to potential threats.

Examples of Tools for Risk Management

• Real-time monitoring: Tools like live threat maps and global incident trackers provide up-to-date information about geopolitical risks, weather events, and health alerts.
• Traveler location tracking: Platforms such as Navan’s live traveler map allow managers to pinpoint employees’ locations, enabling faster emergency responses.
• Automated alerts: Mobile apps and integrated software send push notifications about flight delays, travel advisories, or emerging risks.
• Health and safety apps: Apps offering local medical resources, safety tips, and emergency contacts help travelers stay informed and prepared.

By leveraging technology, companies can create a safer, more efficient travel experience while meeting their duty of care obligations.

Partner with the Right Solution Provider

Selecting the right partner for travel risk management is crucial to safeguarding your employees and helping to ensure seamless business operations. A reliable solution provider supports traveler safety and simplifies risk management processes through advanced technology and expertise.

When evaluating travel management solutions, focus on the following criteria:

• Real-Time Tracking and Alerts: The platform should offer tools for monitoring employee locations and delivering timely alerts about emerging risks.
• Comprehensive Reporting: Look for analytics capabilities that provide insights into travel trends, and highlight areas for improvement in your risk management strategy.
• Integrated Support: 24/7 access to assistance for travelers helps ensure disruptions are handled swiftly, reducing downtime and stress.
• User-Friendly Experience: A platform that’s easy to navigate encourages adoption across teams and leads to more consistent usage.
• Customizable Policies: The ability to tailor travel policies and risk protocols to align with your organization’s needs is essential for addressing unique challenges.

Navan’s travel management platform provides businesses with the tools to create a robust travel risk management framework. Key features include:

• Live traveler map: Track real-time employee locations to respond quickly during emergencies.
• Automated risk alerts: Stay updated on weather disruptions, geopolitical risks, and other travel hazards.
• Integrated duty of care: Combine safety protocols with a centralized booking and expense platform for greater efficiency.
• 24/7 support: Navan’s support team helps ensure assistance, from rebooking flights to arranging evacuations, is always available.

Future-Proofing Business Travel with Smart Risk Management

Travel risk management is essential for safeguarding employees and maintaining business resilience in an increasingly dynamic world. With the right mix of clear policies, proactive planning, and cutting-edge technology, organizations can turn potential challenges into opportunities for confidence and growth.

Companies can enhance safety measures, streamline processes, and create a seamless travel experience by choosing a trusted partner like Navan.

Ready to elevate your travel risk management? Get started with Navan’s tools today.