Blink Inks Major Deal with Allianz for Parametric Travel Insurance
Blink Inks Major Deal with Allianz for Parametric Travel Insurance
(Image credit: Rachel Moore/Lady Disdain.)
Irish InsurTech Blink (Cork) has announced a major rollout of its travel disruption parametric insurance platform in the U.K. this month through a partnership between Blink and Allianz Partners (Munich). Blink will provide flight disruption cover to Allianz Partners and Affinity policyholders through the Allianz Assistance brand, extending Allianz Assistance support to U.K. policyholders wherever they are traveling worldwide.
Blink offers a data-driven travel disruption solution on its Blink Parametric platform, the operation of which it describes as follows: Once a traveler registers their flight details, Blink monitors the flight in real-time. Any flight disruption that occurs to the registered flight automatically results in the traveler being notified instantly. Event notification allows for real-time problem resolution, and so the traveler is immediately offered service choices within their policy terms that can instantly remove the stress and consequences of the disruption.
Paul Prendergast, CEO, Blink.
Blink’s partnership with Allianz is the InsurTech’s first such deal on this scale. Allianz operates in over 70 countries, handling 65 million cases each year. As well as embedding Blink within Allianz Partners’ travel policies, the company’s affinity partners are also offering the InsurTech solution.
Blink will provide flight disruption cover to Allianz Partners and Affinity policyholders through the Allianz Assistance brand, extending Allianz Assistance support to UK policyholders wherever they are travelling worldwide.
Blink offers an advanced, data driven travel disruption solution on its Blink Parametric platform. Once a traveller registers their flight details, Blink monitors that flight in real-time. Any flight disruption that occurs to the registered flight automatically results in a traveller being notified instantly. Event notification allows for real-time problem resolution, and so the traveller is immediately offered service choices within their policy terms that can instantly remove the stress and consequences of the disruption.
Capacity of Over 60,000 Claims Per Hour
“Partnering with Allianz Partners will ramp-up our presence and visibility in the U.K. considerably and we are delighted to be working with one of the world’s largest travel insurance providers in delivering transformative change to their client service offering,” comments Paul Prendergast, CEO, Blink. “Allianz Partners has been definitive from the outset in placing customer needs at the center of the process and are firm advocates for embedded, seamless insurance processes. As a result, we have built a robust service that can process more than 60,000 claims per hour and will support the provision of real-time flight disruption cover for any flight delayed by more than two hours to Allianz Partners and Affinity policyholders.”
This partnership was a culmination of collaboration between Allianz Partners, Blink and LJS Global (London; formerly Lumley Jacobs), an insurance-focused acquisition and retention specialist.
“We have absolute confidence that this new and pioneering Blink dimension will have a very positive impact on our portfolio of travel insurance solutions,” comments Rachel Temperton, Head of Travel & Tourism, Allianz Partners. “We are delighted to partner with the best InsurTechs to deliver cutting edge solutions and we firmly believe that this will transform the travel insurance experience for our customers.”
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