CPPGroup Plc Non Regulatory - Blink - Lloyds Lab
09 September 2020 - 9:02PM
RNS Non-Regulatory
TIDMCPP
CPPGroup Plc
09 September 2020
9 September 2020
CPPGroup Plc
Blink - Lloyds Lab
Blink Parametric collaborates with Lloyd's Lab to develop
commercial sector offering
CPPGroup Plc ("CPP" or "the Group") is announcing that its
insurtech business, Blink Parametric, will be working with Lloyd's
of London to design its first parametric proposition for commercial
lines.
Blink recently confirmed its selection onto the fifth cohort of
the prestigious Lloyd's Lab innovation accelerator programme. The
10-week programme started on 7 September 2020 with Blink having a
specific focus on the theme of new insurance products and
markets.
As one of only ten companies that were selected for the
programme, Blink earned their place through a competitive pitch
process that included 140 pioneering insurtechs from across the
globe. The Lloyd's Lab recognises start-ups that can demonstrate
successful, innovative insurance propositions for a tech and
data-driven future.
Since its inception in 2016 Blink launched their product line
with a market-leading travel disruption solution. A number of
partnerships with large insurers followed including Blue Cross,
Manulife and TuGo. Earlier this year Blink launched their expanded
parametric platform to include solutions to those operating within
climate, energy and Internet of Things sectors as well as
travel.
Engaging with Lloyd's Lab mentors Blink will explore the
disruption to business services across the globe due to Covid-19
and respond by looking for opportunities to extend their parametric
solutions into the commercial sector.
Paul Prendergast, CEO of Blink said:
"Triggered by the volatility of the Covid-19 period, commercial
businesses are already demanding more clarity and security from
their insurance products, all of which can be provided by a
real-time parametric solution.
"Using our platform for a travel disruption solution confirmed
how it can simplify and innovate traditional insurance models and
we are now supporting more than 650,000 customers.
"We've refined our platform's potential and are in a great
position to launch a commercial product. Working with the team at
Lloyd's Lab will enable us establish further data points and
understand where the market opportunities lie."
Jason Walsh, CEO at CPP Group, said:
"It's fantastic that Lloyd's have recognised Blink for its
strong proven parametric platform. We're excited to have our
internationally recognised insurtech company take this technology
further with a proposition for the commercial insurance space. This
is a first for Blink and CPP and will provide significant value
potential for the business.
"Investing in technology and innovation is a key to the Group
strategy as this enables us to transform our partners' products and
customer experiences. Blink have proved their sound platform
integration within the travel sector and we look forward to seeing
what the outcome of the Lloyd's Lab programme will bring."
Enquiries:
CPPGroup Plc
John Brenan, Head of Communications
Email: john.brenan@cpp.co.uk
Tel: +44 (0)7764 378589
About CPP:
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 on CPP visit
https://international.cppgroup.com
For more information on Blink visit
https://blinkparametric.com
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CPPGroup Plc
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