RCS - CPPGroup Plc - Blink Parametric new client wins

CPPGroupAnnouncement

26/06/2023 09:00

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RNS Number : 8782D  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 Officer     Tel: via Alma PR

 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/
(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
(https://blinkparametric.com/)

 

 

 

 

 

 

 

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