Blink Parametric inks partnership to venture into new market

Irish insurtech Blink Parametric has partnered with Europ Assistance and CPP Italy to launch its real-time flight delay insurance service in the Italian market, according to a statement released yesterday (26 June 2023).

The service sees insured travellers who register their flight schedule get compensation should a delay or cancellation occur on an outward, connecting or return flight.

Compensation includes a payout or an airport lounge pass.

Blink Parametric’s new partnership will see the flight disruption solution made accessible within the Italian market for the first time.

Sid Mouncey, Blink Parametric chief executive said: “This was a great collaboration involving multidisciplinary teams from within Europ Assistance and CPP Italy.”

Commitment 

Blink Parametric specialises in high frequency, low value claims across the travel sector, providing flight disruption and lost luggage solutions as well as developing climate, weather, energy and business interruption products supported through its automated platform.

It provides a parametric as a Service (PaaS) solution so that claims can be paid quicker – this is because the indemnity and trigger are already set.

The insurtech’s new partnership came after it announced a deal with Irish insurance provider Getcover.com to launch a bespoke suite of travel insurance products last week (19 June 2023).

“We each share a service commitment to communicate with customers in real-time, offering alerts, status updates, service benefit options and importantly, compensation,” Mouncey said.

“We are excited to launch in such a key European market with an acclaimed specialist travel insurance and assistance partner that will maximise our technology to deliver the most for its network and the travelling public.”