Last week, around 500 Tesla owners were unable to connect and unlock their vehicles, causing lost hours for many users. Were people left outside in the cold, others unable to go to work or even worse get to the hospital?
Did Elon Musk ever consider this scenario? Do Tesla think about intolerable harm? Did they consider Impact Tolerances for customer disruption?
The Tesla scenario is one of many high profile outages from recent weeks (e.g. Santander, Virgin media) and demonstrates the importance of setting the correct impact tolerance.
Setting an appropriate impact tolerance is crucial for the firm to protect their customers and support future investment decisions. Conversely, getting it wrong can create problems in the other direction. It’s a tricky area to navigate and many firms get stuck in the weeds with those decisions.
Our recent video and webinar on setting impact tolerances provides helpful advice:
For a more detailed conversation around your Operational Resilience requirements, feel free to book time with Daniel Waltham, FourthLine’s Risk Director here>
Topics: Insurance Sector
