Irish InsurTech Blink Parametric named in The InsurTech100 for 2020
Top 100 pioneering companies transforming the global insurance industry announced by FinTech Global
Nearly $17bn has been invested in InsurTech companies since the beginning of 2017.
Cork, Ireland (Nov. 4, 2020) – Blink Parametric, one of the world’s leading InsurTechs, has made it onto The InsurTech100 for a second consecutive year. The InsurTech100 is an annual list of the world’s most innovative solution providers addressing digital transformation challenges and opportunities within insurance as selected by a panel of analysts and industry experts.
This is another significant milestone for the company as it follows Blink’s selection in August for the fifth cohort of the prestigious Lloyd’s Lab innovation accelerator programme which is set to showcase its latest product solution Blink Interruption later this month.
Speaking of today’s announcement by FinTech Global, the specialist data and research provider and the organisation behind The InsurTech100 , Blink’s co-founder and CEO Paul Prendergast said:
“This is a great day for all of us in Blink Parametric. I see the wealth of InsurTech innovation driving change in our industry at an extraordinary pace right now, so to be selected and recognised from over 1,200 companies is a huge honour. This recognition motivates us to keep doing what we do best, prioritising the delivery of superior service experiences with simple, intuitive, online products that solve real problems not only for the insured but for insurers too.”
FinTech Global director Richard Sachar said, “Established insurance companies need to be aware of the latest innovation in the market in order to remain competitive in the market post Covid-19 which is heavily focused on digital distribution and increased use of customer data. The InsurTech100 list helps senior management filter through all the vendors in the market by highlighting the leading companies in sectors such as underwriting, pricing, IoT devices, customer experience and data & analytics,” he added.
Nearly $17bn has been invested in InsurTech companies since the beginning of 2017, according to figures published by FinTech Global. A full list of the InsurTech100 can be found at www.TheInsurTech100.com.
Blink successfully launched Blink Travel in 2016. Having proven the platform with their world-wide flight disruption solution which enables companies to communicate with their customers in real-time, offering alerts, status updates, service benefit options and importantly, compensation, it launched Blink Parametric in 2020, offering a full suite of parametric insurance solutions. Blink Interruption –designed to address fast payments providing liquidity quickly to SMEs faced with temporary business closure as a result of an insured risk event occurring is the latest product in its portfolio.
About FinTech Global
FinTech Global offers the most comprehensive data, the most valuable insights and the most powerful analytical tools available for the global FinTech industry. They work with market leaders in the FinTech industry – investors, advisors, innovative companies and financial institutions – and enable them to get the essential intelligence they need to make superior business decisions. FinTech Global cover every industry development, every investment, every exit and profile of every company in every FinTech sector around the world. The INSURTECH100 is an annual list of 100 of the world’s most innovative InsurTech companies selected by a panel of industry experts. These are the companies every leader in the insurance industry needs to know about as they consider and develop their digital transformation strategies. The list aims to help senior management and insurance professionals evaluate which digital insurance models have market potential and are most likely to succeed and have a lasting impact on the industry. The InsurTech (insurance technology) industry has seen huge growth in the last three years as insurance companies grapple with the challenges of digital transformation and new demands from customers. Nearly $17bn has been invested in InsurTech companies since the beginning of 2017.
A full list of The INSURTECH100 can be found at www.TheInsurTech100.com. More detailed information about the companies is available to download in a research pdf on the website.
For more information, please visit www.FinTech.Global.
About Blink Parametric
Paul Prendergast (CEO) and Peter Bermingham (CTO) founded Blink in 2016 to build data-driven travel disruption insurance solutions and was one of the first InsurTech start-ups to focus on travel insurance. It was also the first InsurTech in the FCA (UK) Sandbox programme, and was one of the early partnerships of Munich Re Digital Partners, the Digital Innovation arm of global Reinsurer Munich Re. Based in Cork, the company was acquired by CPP Group (AIM CPP) in March 2017, one of the early InsurTech acquisitions globally. Since then Blink has expanded its services platform to become a world leader in parametric insurance product innovation, transforming its clients’ complex offerings into superior service experiences with simple, intuitive, online products in sectors such as Commercial, Travel, Climate, Energy and IoT. It made TheINSURTECH100 for 2020, an annual list of the worlds’ most innovative InsurTech companies, was selected to join the fifth cohort of the prestigious Lloyd’s Lab innovation accelerator programme in 2020 and successfully partners globally with insurance and financial services companies driving innovation in Asia, Australia, Europe and North 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 CPP Group
CPP Group is a partner focused, global product and services company, specialising in the financial services and insurance markets. We use our local knowledge from 12 country markets within Asia, Europe and Central America to provide our business partners with technology-led product, marketing and distribution expertise that deliver commercial benefits and bring meaningful solutions to over 10 million end customers worldwide.
CPP’s diverse range of insurance and assistance products can be designed to suit the bespoke needs of our business partners through providing their customers with peace of mind by reducing the stresses of everyday life, ranging from protection of mobile phones, payment cards and household belongings to keeping travel plans moving and the monitoring of compromised personal data.
For more information, visit international.cppgroup.com.
SOURCE: Blink Innovation via Fuller Marketing
Tags: Blink Innovation, InsurTech, InsurTech Spotlight
Read the original article at Insurance-Canada.ca