The latest partnership news from Blink Parametric;
Blink Parametric and Travel Insurance Saver – trading name of Rothwell & Towler, a UK-based insurance intermediary, have partnered to launch a real-time parametric flight delay solution. Travel Insurance Saver is the latest partner to access Blink Parametric-enabled technology via Firemelon’s Magenta Insurance System platform since their alliance in January 2023 enabling easy access to travel assistance technology. The product is underwritten by specialist insurer Financial and Legal Insurance Company Ltd (F&L).
Announcing the deal, Sid Mouncey, CEO of Blink Parametric said: “As we all face an increasingly unpredictable travel environment, the travel insurance industry needs fast and intuitive solutions to assist their customers. Our work with Travel Insurance Saver is delivering a personalised and positive customer experience delivered through our ‘plug and play’ parametric integration that enables faster, cheaper and more scalable solutions.. It’s fantastic to be partnering with such a well-established travel insurance brand and partner in Rothwell & Towler who are right at their customers’ side when they need real-time assistance.’’
How It Works
The award-winning Blink Flight Disruption solution simply requires a Travel Insurance Saver policy holder to register their flight details on the insurance portal at least 12 hours in advance of departure. Blink Parametric then monitors the registered flights in real-time. If an eligible delay occurs on the flight schedule, the traveller is automatically notified by an alert to their mobile phone and offered in real-time, a choice of airport lounge access or an immediate payout to their bank account.
The data-driven flight disruption solution service will be embedded and available free of charge for all Travel Insurance Saver Gold customers who will be offered a choice of airport lounge access or a real-time cash payout of £50 when a flight is delayed by two-hours. It will also be available as an optional add-on for Bronze and Silver customers.
Data is always the key for parametric insurance. The data allows Blink Parametric to map options and solutions along a typical Yes/No parametric model so that each problem scenario triggers an action to assist the customer. It’s simple, effective and powerful.
Simon Neicho, Head of Commercial, Rothwell & Towler said: “We’re excited to partner with Blink Parametric to bring their real-time flight disruption technology to Travel Insurance Saver. This collaboration underscores our commitment to innovation, transforming flight delays from a source of stress to an opportunity for comfort and immediate financial support. Our customers will now benefit from real-time solutions like lounge access and direct cash payments, significantly reducing the discomfort and anxiety often associated with travel disruptions.”
Karen Beales, Managing Director at Financial and Legal Insurance Company Limited, which is underwriting the product, commented, “This is an important move in providing greater support to outbound travellers from the UK. Customer-centric benefits are central to evolving travel insurance trends and I am delighted that we are extending our underwriting support to Travel Insurance Saver for this cover.”
The Blink Parametric suite of InsurTech travel solutions is designed to deliver operational efficiency on processing high frequency, low value global travel insurance claims when the traveller needs immediate real-time claim resolution.
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