Blink Parametric wins new partnerships

RNS Number : 0608Q

CPPGroup Plc

16 February 2023

 

CPPGroup Plc

("CPP Group", the "Group" or the "Company")

Blink Parametric wins new business partnerships and retains key clients

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 progress within its InsurTech, Blink Parametric ("Blink").

We are pleased to announce that Blink has signed a new partnership agreement for its flight disruption product with a large European insurer, with a launch in Ireland planned for early 2023. In addition, Blink has signed an agreement to launch its first offering into the US market, which is an important milestone for the business, with the US being the world's largest travel insurance market.

To promote growth in the UK market, we have formed a strategic partnership with Firemelon, a leader in providing travel insurance sales and administration systems to major travel brands. The partnership will offer to all travel insurance providers served by Firemelon's Magenta Insurance System, access to Blink's real-time platforms, and in so doing, increase speed to market. The first customers are expected to be operational on Firemelon's system in early 2023.

We are also pleased to announce that Blink has extended contracts with two of its Canadian partners. These announcements follow recent flight disruption product launches with Salaam Takaful Insurance, in partnership with Lloyds broker MNK Re in Pakistan and Sanctifly, a global travel wellness brand.

These new business wins are in line with Blink's distribution strategy of partnering with large global travel insurers and seeking to deepen distribution paths into their global businesses and subsidiaries.

Good progress is being made on the programme of work to ensure the Blink business is able to scale effectively. As part of this programme, the business has recently signed an agreement with a global cross-border payments provider to facilitate real-time assistance and multi-currency cash payments to customers around the globe.

Sid Mouncey, CEO of Blink Parametric, commented:

"We are making good progress securing new business wins in new markets, retaining key clients and increasing our operational reach and scale. I am particularly encouraged by the start we have made to 2023 and am looking forward to further partner launches in the EU, UK and US markets in the coming months."

Enquiries:

CPPGroup Plc
Simon Pyper, Chief Executive Officer David Bowling, Chief Financial Officer Sid Mouncey, CEO Blink Parametric	Tel: via Alma PR
Alma PR
(Financial PR Adviser)	Tel: [phone]
Josh Royston
David Ison
Kieran Breheny

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://international.cppgroup.com/

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 visit  https://blinkparametric.com

 

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