CPP Cppgroup Plc

TIDMCPP

CPPGroup Plc

26 June 2023

CPPGroup Plc

("CPP Group", 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 continues to make good progress and has recently launched its Flight Delay solution into the United States, United Kingdom, and Italian travel insurance markets.

United States

Blink has launched its Flight Delay service in the US, the world's largest travel insurance market, with Awaycare, and Travel Insured International (TII), a travel brand owned by Crum & Forster (a large US-based provider of speciality insurance).

United Kingdom

In the UK, Blink has launched its Flight Delay solution with GetCover.com, a direct-to-consumer travel insurance brand. Deployment of Blink's services is via the Magenta Insurance Platform which is the leading policy administration system for the UK travel insurance market.

Blink's services are now available on Magenta as a configuration option which will allow faster deployments to UK-based travel insurance providers who adopt Blink's services as part of their product offer.

Italy

Within the Italian market Blink has partnered with the largest travel insurance provider in Italy, Europ Assistance, who are one of the world's leading insurance companies in the private assistance sector.

The new client launches announced today are not in themselves material to Blink's revenue projections for 2023 or 2024, they do however further endorse the Board's view of the broad appeal of Blink and provide real proof points of the relevance and benefits of its Flight Delay products and services to the global travel insurance market. Furthermore, they validate Blink's strategy of working with large-scale insurers that operate in multiple geographies.

Awards

Blink has also been recognised by the Insurance Times Claims Excellence awards in the UK in May 2023. Blink won Gold in two categories 'Claims Product Solution of the Year' and 'Customer Care Solution of the Year'.

Sid Mouncey, CEO of Blink Parametric, commented:

"We are making good progress against our strategic objectives and the launches in the US, UK and Italian markets for our Flight Delay solution demonstrates this. Additionally, our approach of working with well-regarded large-scale insurance brands is starting to bear fruit and Blink is now partnering with a number of reputable clients who are well-known within their respective travel insurance markets. We have a promising pipeline of opportunities and look forward to reporting further progress in the months ahead."

Enquiries:

 
 CPPGroup Plc 
 Simon Pyper, Chief Executive         Tel: via Alma PR 
  Officer 
  David Bowling, Chief Financial 
  Officer 
  Sid Mouncey, CEO Blink Parametric 
 
   Alma PR 
 (Financial PR Adviser)               Tel: +44 (0)20 3405 0205 
 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

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NRAFIFIDREIRFIV

(END) Dow Jones Newswires

June 26, 2023 04:00 ET (08:00 GMT)

Cppgroup (LSE:CPP)
Historical Stock Chart
From Mar 2024 to Apr 2024

Cppgroup (LSE:CPP)
Historical Stock Chart
From Apr 2023 to Apr 2024