Cork-based Blink Parametric has formed a strategic partnership with Lloyd’s broker MNK Re.
The collaboration will see the rollout of Blink’s parametric flight disruption solution with further pipeline parametric insurance opportunities for its diverse weather, climate, energy and bancassurance offerings being explored as part of the MNK Re innovation partnership service to its clients.
“In MNK Re, we have a partner that shares our vision for pure insurtech innovation,” said Sid Mouncey, CEO of Blink Parametric.
“Together we will be designing and delivering simple, intuitive, online products across the Blink platform to a global client base. We are excited that our flight disruption solution will lead the way, followed by increasingly relevant climate and energy solutions.”
Blink was founded in 2016, a Parametric as a Service (PAAS) insurtech, focused on a flight disruption travel insurance solution to prove its parametric platform.
It launched Blink Parametric in 2020, offering a full suite of parametric insurance solutions.
Welcoming the new partnership, Manoj Kumar group CEO and managing director at MNK Re, said: “As the travel market reopens, the unique real-time service delivers the speed and convenience that our clients both demand and deserve. It is clear that the future of insurance lies in the accessibility of simple, relevant and effective insurance coverages that better protect policyholders”
Harry Titherley, head of innovation at MNK Re added: “The wider opportunities that parametric re/insurance solutions bring, could have a game-changing effect in addressing a wide range of risks from climate change, natural catastrophes and extreme weather through to variations in energy consumption. This is just the beginning.”