RCS - CPPGroup Plc - CPP launches parametric lost luggage product

CPPGroupAnnouncement

17/08/2021 12:00

RNS Number : 8826I
  
CPPGroup Plc
  
17 August 2021
  
 

17 August 2021
 
CPPGroup plc
("CPP" or "the Group")
 
CPP launches first-of-its-kind parametric lost luggage product
 
CPP Group (AIM:CPP), the multinational provider of personal protection and insurance products and services which specialises in the financial services and insurance markets, is pleased to announce it has launched the UK's first parametric lost luggage product in partnership with travel insurance provider Just Travel Cover.
 
The technology, which enables real-time support and the automation of the claims process from the moment the traveller registers their checked luggage as missing, will be delivered by Blink, the parametric insurance company acquired by CPP in 2017. 
 
The launch follows the integration of Blink into the Group earlier this year and is in line with CPP's strategy of investing in technology and innovation to enhance the products and customer experiences of its partners 
 
The integration of Blink enables the Group to better deploy parametric solutions globally using the strength of its local market businesses, capitalising on the growing demand from travel insurance companies across the globe for solutions which deliver differentiation and immediate value at the time of need to consumers. 
 
The UK launch of the Smart Luggage product, which complements Blink's existing flight delay and cancellation parametric travel products, signifies the first success from this strategic initiative. 
 
CPP intends to further develop its parametric capabilities both within the travel and wider insurance sector. 
 
Jason Walsh, CPP Group CEO, commented:
 
"Parametric technology will play a massive part in the future of the travel insurance industry and this partnership shows that we are at the forefront of innovation in the space. To partner with a business like Just Travel Cover is further evidence of our growing reputation and ability to attract high profile partners in our home market. 
 
"With international travel markets beginning to open up, and demand for insurance products powered by this kind of technology growing across the territories we serve, the opportunity ahead of us is an exciting one."
 
Enquiries:
 



CPP Group plc


via Alma PR




Jason Walsh, CEO








Oliver Laird, CFO
Sarah Atherton, Group Company Secretary


















Alma PR (Financial PR Adviser)


+44 (0)20 3405 0205




Josh Royston
David Ison
Kieran Breheny


cpp@almapr.co.uk 



 
About CPP Group:
 
CPP Group takes away many of the stresses and strains of daily life for millions of people across the globe. In collaboration with selected partners in each country in which the Group operates, it develops, aggregates, offers and supports a range of personal protection and insurance products, which are sold alongside, or packaged with, the core product offerings of the Group's partners. CPP is listed on AIM, operated by the London Stock Exchange.
 
For more information on CPP visit https://international.cppgroup.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.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

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
 
 
NRAGIGDIUGBDGBR