Cork, Ireland (Oct. 10, 2023) – Blink Parametric has partnered with British Columbia Automobile Association (BCAA), BC’s top choice for travel insurance and one of the most trusted brands in Canada. BCAA is piloting a unique, bundled parametric travel insurance product suite. The service includes both Flight Disruption and Lost/Delayed Luggage real-time assistance in a world first for Blink Parametric. The service will initially be offered as an option to single trip travel insurance policies.
The Blink Parametric Flight disruption solution requires a customer to simply register their flight details via a dedicated BCAA portal prior to travel. Blink Parametric then monitors the flight(s) in real-time. If a delay of 2 hours+ occurs on the flight schedule, the BCAA customer is automatically notified and offered instant choices in line with their policy terms to help alleviate the stress and consequences of the delay. The BCAA assistance options include a choice of airport lounge access or a cash payment, issued in real-time.
Similarly, the Lost and Delayed Airline Luggage solution offers real-time support to customers whose checked luggage cannot be located following an airport arrival. A BCAA customer simply registers their lost luggage via the BCAA portal. Payments are delivered at agreed levels of delay or if the luggage is eventually lost. The result in each case is an enhanced customer experience during a time when the traveller is experiencing inconvenience and frustration.
“We are excited to be working with BCAA as they introduce real-time parametric solutions into their extensive travel insurance portfolio,” said Sid Mouncey, CEO of Blink Parametric, “BCAA is the number one travel insurance provider in British Columbia and continuously explores creative ways to protect more people in more ways. The decision to bundle our two, award-winning travel assistance services for simultaneous rollout is a world-first for Blink Parametric and we are proud to be supporting BCAA across our high-performance platform, delivering world-class travel solutions packaged in a customer experience that delights.”
“Providing money or lounge pass access to our customers the moment a flight or baggage delay happens empowers them to take care of their immediate needs without fuss or worry,” said Patrick Haunschmidt, Director of Insurance Products, BCAA, “Access to easy, automatic real-time benefits is exactly the kind of amazing customer experience travellers with BCAA insurance deserve – Blink Parametric understands this and empowers us to deliver.”
This project was a culmination of collaboration between BCAA and Blink Parametric with the support of Red Consulting.
- Learn more about Blink in the InsurTech Spotlight.
About Blink Parametric
Blink Parametric is a multi-award-winning global InsurTech that transforms its clients’ traditional insurance offerings into superior service experiences with simple, intuitive and transparent parametric products. Its proven platform serves as the conduit for high frequency, low value claims across Travel, with flight disruption and lost luggage solutions as well as developing solutions within the travel weather sector, business interruption and online personal data monitoring and cyber solutions. It partners globally with insurance and financial services companies in Asia, Europe, North America and Central and Latin America.
Blink Parametric was founded in 2016 and became the first Insurtech in the FCA (UK) Sandbox programme and was acquired by CPP Group (AIM CPP) in March 2017. Since then, Blink Parametric made TheINSURTECH100 (2019, 2020, 2022), an annual list of the worlds’ most innovative InsurTech companies. Selected to join Cohort 5 of the prestigious Lloyd’s Lab innovation accelerator programme in 2020, it developed a market-ready Business Interruption offering. It has progressively expanded its services platform to become a world leader in parametric consumer insurance product innovation, winning various numerous awards including Gold for Excellence in Technology – Service Provider in the Insurance Times Awards 2022, Best Use of Technology for Customer Experience and Best Customer App in the 2022 Insurance Times Tech & Innovation Awards, Claims Innovation of the Year at the European Risk Management Awards 2022, Outstanding Industry Contribution of the Year at the 2022 ITIJ: International Travel & Health Insurance Journal Awards, InsurTech Specialist at the National Insurance Awards 2023 and Customer Care Solution of the Year and Claims Product Solution of the Year in the 2023 Insurance Times Claims Excellence Awards. For more information, visit blinkparametric.com.
About BCAA
BCAA (British Columbia Automobile Association) is a purpose-driven Member-based organization delivering peace of mind to our Members and customers across BC with proven protection and mobility solutions as Canada’s Most Trusted brand in association with CAA (Canadian Automobile Association). With more than one million Members, BCAA serves 1 in 3 BC households with industry-leading products, including home, car, travel, and small business insurance, Evo Car Share, roadside assistance, and full auto repair at BCAA’s Auto Service Centres across the province. BCAA also has a long history of keeping our roads safe and giving back in ways that improve the lives of British Columbians and communities throughout our province. For more information, visit bcaa.com.
About Red Consulting
Red Consulting is one of Canada’s leading travel insurance and medical assistance consulting companies. For more information, visit redconsulting.ca.
SOURCE: Blink Innovation via Fuller Marketing
Tags: Blink Innovation, British Columbia Automobile Association (BCAA), embedded insurance, industry first, InsurTech, InsurTech Spotlight, parametric insurance, partnership, Real-Time, travel
