Source - LSE Non-Regulatory
RNS Number : 7688R
CPPGroup Plc
31 October 2023
 


CPPGroup Plc

(the "Group" or the "Company")

 

Blink Parametric new client wins

 

 

CPP Group (AIM: CPP), a provider of real-time assistance products and resolution services which reduce disruptions to everyday life for millions of customers across the world, provides an update on new business wins for Blink Parametric ("Blink") the Group's InsurTech business.

 

Blink's long-term growth strategy is to embed its innovative parametric technology solutions into the core products of large insurance companies. Blink continues to demonstrate good progress and has recently signed a global agreement with a multinational insurance company, along with new agreements with clients in Canada, Switzerland and Latin America as detailed below.

 

Global Agreement - MAWDY (part of the Mapfre Group)

Blink has signed a global agreement with MAWDY, a multinational insurance, reinsurance and services company operating in 23 countries, which is part of the Mapfre Group. The initial launch with MAWDY will see Blink's Flight Delay solution being included in a range of travel insurance products in the Irish market. This agreement provides the structure for MAWDY to deploy Blink's parametric solutions across all of the markets in which it operates. Blink is actively engaged to further deploy its Flight Delay solution in one of MAWDY's largest countries in 2024.

 

Canada -- BCAA

Blink has bolstered its market presence in Canada by launching with BCAA, one of the largest regional club members of the Canadian Automobile Association (CAA). The BCAA partnership in Canada offers a bundled parametric Flight Delay and Luggage solution as part of BCAA's travel insurance product suite, which is offered to its one million strong membership base.

 

Switzerland - Baloise

Blink has also signed an agreement in Switzerland with Baloise, a European insurer that employs 8,000 people across Europe. Baloise will launch a standalone parametric product for consumers, which will include Blink's Flight Delay and Luggage solutions, in November 2023.

 

Latin America (LATAM) - BAOBA

Blink has extended its existing relationship with InsurTech business BAOBA, to which it already provides parametric solutions, through a new client launch in the LATAM region.

 

 

Sid Mouncey, CEO of Blink Parametric, commented:

"These new agreements provide further proof points for Blink Parametric's potential in the global insurance marketplace. Our focus is securing partnerships with large insurers and driving growth in our target geographic markets. The travel sector continues to experience frequent and increasingly large-scale disruptive events which is contributing to a heightened industry need to provide an urgent consumer response. Blink has a major role to play in the restoration of trust in the travel sector, supporting insurers and consumers through the adoption of proactive and innovative flight disruption and luggage insurance solutions."

 

 Enquiries:

CPPGroup Plc


Simon Pyper, Chief Executive Officer

David Bowling, Chief Financial Officer

Sid Mouncey, CEO Blink Parametric

Tel: +44 (0)7917 795601

 

 

About Blink Parametric

Blink Parametric 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 severity claims across travel, with flight disruption and lost luggage solutions as well as developing solutions within the travel sector and online personal data monitoring and cyber solutions. It partners globally with companies in Asia, Europe, and North America.

 

For further information on Blink visit https://blinkparametric.com

 

About CPP Group:

CPP Group is a technology-driven assistance company that creates embedded and ancillary real-time assistance products and resolution services that reduce disruption to everyday life for millions of people across the world, at the time and place they are needed. CPP Group is listed on AIM, operated by the London Stock Exchange.

 

For more information on CPP Group visit https://corporate.cppgroup.com/

 

 

 

 

 

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