Blink Parametric, a CPP Group Insurtech, announces a strategic partnership with MNK Re, a specialist Lloyd’s of London insurance and reinsurance broker serving large institutions in over 70 countries.
The collaboration will see the early rollout of Blink’s flagship parametric flight disruption solution with further pipeline parametric insurance opportunities for its diverse weather, climate, energy and bancassurance offerings being explored as part of the MNK Re innovation partnership service to its clients.
Speaking of the announcement, Sid Mouncey CEO of Blink Parametric stated that: “In MNK Re, we have a partner that shares our vision for pure insurtech innovation. Together we will be designing and delivering simple, intuitive, online products across the Blink platform to a global client base. We are excited that our flight disruption solution will lead the way, followed by increasingly relevant climate and energy solutions, allowing us to showcase the outstanding partner and customer experience that MNK Re has established as its standard”.
Blink was founded in 2016, a Parametric as a Service (PAAS) InsurTech, focused on a flight disruption travel insurance solution to prove its parametric platform. Enabling companies to communicate with customers in real-time, offering alerts, status updates, service benefit options and importantly, compensation, has been a cornerstone of its ongoing success. It launched Blink Parametric in 2020, offering a full suite of parametric insurance solutions.
Welcoming the new partnership, Manoj Kumar Group Chief Executive and Managing Director at MNK Re, said: “Using the Blink platform and its “engine” demonstrates MNK Re’s unwavering commitment to superior service delivery and our customer-centric approach. As the travel market reopens, the unique real-time service delivers the speed and convenience that our clients both demand and deserve. It is clear that the future of insurance lies in the accessibility of simple, relevant and effective insurance coverages that better protect policyholders.
Harry Titherley, Head of Innovation at MNK Re added: “The wider opportunities that parametric re/insurance solutions bring, could have a game-changing effect in addressing a wide range of risks from climate change, natural catastrophes and extreme weather through to variations in energy consumption. This is just the beginning.”