RCS - CPPGroup Plc - Blink Parametric wins new partnerships

CPPGroupAnnouncement

16/02/2023 07:00

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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     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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