January 26th, 2018
Travel agents deal with the unexpected: weather, aircraft issues, miscommunication, shifting demand and changing trends. Successful travel agents spot these challenges ahead of time and save their clients from disastrous vacations.
To run your show the best way know how you need to know what you're facing. Check out the top three challenges travel agents deal with on the daily:
After the holidays, people return to work and "the real world." Travel agents typically deal with a post-holiday slump in bookings. To keep revenue high, agents should emphasize that travelers can score great deals by booking in January and February. According to Skyscanner, U.S. domestic flights are 16 percent cheaper than the annual average during this timeframe. And international flights are 36 percent cheaper!
Last year, customers sued an Arkansas-based travel agency, alleging it did not arrange lodging for customers' trips as promised. The lawsuit states some travelers did not find out about the lack of reservations until after they reached the destination. Others felt their accommodations failed to live up to those advertised in the travel package.
Increasingly, consumers who feel they've been wronged turn to lawsuits to settle disputes. The travel industry is no exception. Business insurance for travel agents protects your company if a customer sues, alleging negligence or misrepresentation.
If your agency gets sued, professional liability insurance covers court costs and judgments against you—reducing your business's financial burdens.
Travel agencies have what hackers want: Customers' personal and financial information. Here are a few recent cases illustrating why cybersecurity and cyber insurance are necessary:
- A 2016 hack on a large Japanese travel agency compromised the data of nearly 8 million people, including passport numbers.
- A ransomware attack temporarily halted operations for a Hong Kong-based agency in late 2017.
- One Texas-based travel technology company announced an unauthorized party had gained access to some customers' payment information in 2017.
Travel agencies need to implement cybersecurity protocols now more than ever, and train employees on good tech habits. Eliminate weak links in the chain, from generic passwords to lost devices, out-of-date security software, and more. If you get hacked, minimize damage and contact your cyber insurance carrier immediately.
Preparation and quick-thinking keeps your travel agency running smoothly. Get started with business insurance for travel agents—it's free to compare quotes on CoverHound!