Cork, Ireland (Jan. 28, 2021) – Irish InsurTech Blink is pleased to announce a major rollout of its travel disruption insurance platform in the UK this month. The partnership between Blink and Allianz Partners, one of the world’s leading insurers operating in over 70 countries and handling 65 million cases each year, is the first UK deal of this scale for Blink. The announcement validates how world-class InsurTech innovation is pivotal for the future of insurance solutions amidst the challenges triggered by COVID-19. This not only transforms how insurance works, but puts a spotlight on how insurance leaders (at the forefront of change) are capitalizing on new technology that puts customers in need of a claim resolution at the centre of the process. As well as embedding Blink within Allianz Partners travel policies, its affinity partners are also offering the InsurTech solution.
Blink will provide flight disruption cover to Allianz Partners and Affinity policyholders through the Allianz Assistance brand, extending Allianz Assistance support to UK policyholders wherever they are travelling worldwide.
Blink offers an advanced, data driven travel disruption solution on its Blink Parametric platform. Once a traveller registers their flight details, Blink monitors that flight in real-time. Any flight disruption that occurs to the registered flight automatically results in a traveller being notified instantly. Event notification allows for real-time problem resolution, and so the traveller is immediately offered service choices within their policy terms that can instantly remove the stress and consequences of the disruption.
Paul Prendergast, CEO of Blink, spoke of the significance of this UK announcement:
“Partnering with Allianz Partners will ramp up our presence and visibility in the UK considerably and we are delighted to be working with one of the world’s largest travel insurance providers in delivering transformative change to their client service offering,” said Prendergast. “Allianz Partners has been definitive from the outset in placing customer needs at the centre of the process and are firm advocates for embedded, seamless insurance processes. As a result, we have built a robust service that can process more than 60,000 claims per hour and will support the provision of real-time flight disruption cover for any flight delayed by more than two hours to Allianz Partners and Affinity policyholders.”
This partnership was a culmination of collaboration between Allianz Partners, Blink and LJS Global (formerly Lumley Jacobs), a leading acquisition and retention specialist in the Insurance space.
Speaking of the deal, Rachel Temperton, Head of Travel & Tourism, Allianz Partners, said, “We have absolute confidence that this new and pioneering Blink dimension will have a very positive impact on our portfolio of travel insurance solutions. We are delighted to partner with the best Insurtechs to deliver cutting edge solutions and we firmly believe that this will transform the travel insurance experience for our customers.”
About Blink Parametric
Paul Prendergast (CEO) and Peter Bermingham (CTO) founded Blink in 2016, a Parametric as a Service (PAAS) InsurTech start-up focussed on a flight disruption travel insurance solution to prove its platform. It became the first InsurTech in the FCA (UK) Sandbox programme and was acquired by CPP Group (AIM CPP) in March 2017. Since then Blink made TheINSURTECH100 (2019 & 2020), an annual list of the worlds’ most innovative InsurTech companies and has expanded its services platform to become a world leader in innovative parametric insurance. It was selected to join Cohort 5 of the prestigious Lloyd’s Lab innovation accelerator programme in 2020 developing a market-ready Business Interruption offering as part of a 10-week programme. It transforms its clients’ complex offerings into superior service experiences with simple, intuitive, parametric products. Its proven platform serves as the execution conduit for increasingly Covid-19 prone, high frequency, low severity claims across Commercial and Travel as well as Climate, Energy and IoT sectors. It successfully partners globally with insurance and financial services companies in Asia, Australia, Europe, North America and Central and Latin America. For more information, visit blinkparametric.com.
The Blink Innovation team includes world-class software developers, tech architecture design specialists and experts in business processes, with a blend of more than 30 years’ experience. Together they demonstrate tremendous creativity, passion and commitment through the pursuit of agile, innovative parametric InsurTech solutions. Blink Innovation excel in effective project management, best-practice collaboration and integration to ensure the successful launch of transformative, compliant parametric insurance solutions. The team not only delivers on partner goals but takes care to articulate and deliver on a superior service experience for clients. For more information, visit blinkblink.io.
About Allianz Partners
Allianz Partners is a world leader in B2B2C insurance and assistance, offering global solutions that span international health and life, travel insurance, automotive and assistance. Customer driven, our experts are redefining insurance services by delivering future-ready, high-tech high-touch products and solutions that go beyond traditional insurance. Our products are embedded seamlessly into our partners’ businesses or sold directly to customers, and are available through four commercial brands: Allianz Assistance, Allianz Automotive, Allianz Travel and Allianz Care. Present in 76 countries, our 21,500 employees speak 70 languages, handle over 65 million cases each year, and are motivated to go the extra mile to help and protect our customers around the world. For more information, visit www.allianz-partners.com.
About CPP Group
CPP Group makes millions of lives easier and better protected. We partner with large scale companies across the globe to understand their customers’ needs and meet them through a range of popular ancillary products and services which add value to their core business. Specialising in the financial services and insurance sectors, we achieve long-term, sustainable growth through innovation, specialist digital capability and a culture that brings out the best in our people. We are listed on AIM, operated by the London Stock Exchange. For more information, visit international.cppgroup.com.
About LJS Global
LJS Global works with insurers (in Europe & North America) to design, implement and manage innovative customer engagement programs that deliver quantifiable insurer results. Through leveraging non-industry products and services, they build brand and differentiate policies while unlocking market opportunities by solving distribution, retention and other industry endemic challenges. Their customised programs drive loyalty and trust by providing measurable, customer value. For more information, visit ljsglobal.com.
SOURCE: Blink Innovation via Fuller MarketingTags: Allianz, Blink Innovation, coronavirus, embedded insurance, epidemic, InsurTech, InsurTech Spotlight, launch, partnership, platform, Transformation, United Kingdom (UK)