Blink Parametric has partnered with Newpoint’s GetCover.com, a pioneer of online direct-to-consumer travel insurance.
The partnership aims to launch a suite of bespoke online travel insurance products that use a real-time parametric flight delay solution for their eligible travel insurance policyholders.
The partnership’s raison d’etre is to offer a data-driven flight disruption solution. Blink Parametric monitors registered flights in real-time, alerting travellers to any delay and providing immediate assistance. GetCover.com provides choices that help mitigate the stress and impact of such delays, including airport lounge access or a £30 cash payout directly deposited into the traveller’s bank account.
Blink Parametric is a multi-award-winning InsurTech firm that provides Parametric as a Service (PaaS) solutions. It specialises in dealing with high-frequency, low-value claims across the travel sector, using real-time propositions for flight delay, flight cancellation, checked luggage delay and loss.
Getcover.com is a part of Newpoint Insurance Brokers, offering simple to understand, value for money travel insurance for customers globally. It is leading the way with innovative and accessible insurance cover and benefit solutions.
The real-time flight delay service will be embedded at no extra cost to the policyholder in all Gold tier policies purchased directly from Getcover.com’s website. There won’t be a need for receipts, forms or phone calls, simplifying the process for travellers.
According to the announcement, Getcover.com is the first partner to access Blink Parametric-enabled technology via Firemelon’s Magenta Insurance System platform. The travel insurance sales and policy administration system provider had entered into a strategic alliance with Blink Parametric in January, allowing easy access to Blink Parametric technology.
The product offered under the partnership will be underwritten by specialist insurer Financial and Legal Insurance Company Ltd (F&L).
Newpoint Insurance Brokers, Head of Travel Partner Development, Julian Triggs said, “This partnership with Blink Parametric represents another significant step for Getcover.com as we steadily expand our outstanding portfolio to now include intuitive, real-time travel assistance products. Blink Parametric ticked every box for us, being easy to work with and delivering a powerful, real-time customer experience that is uniquely personalised and immediately beneficial, right when our customers need assistance.”
Chief Commercial Officer of Blink Parametric, Carl Carter added, “We are honoured to work with the team as they differentiate their travel insurance proposition within the hyper-competitive UK travel insurance market by providing a real-time flight delay service delivering a cash payment or an airport lounge pass in a traveller’s time of need. We look forward to enhancing their travel insurance product offering and customer service delivery with immediate effect.”
Karen Beales, Managing Director at Financial and Legal Insurance Company Limited, which is underwriting the product, concluded, “It’s great news that we are extending our underwriting support to Getcover.com. Parametric travel insurance propositions have a strong consumer focus and, as mass travel returns to pre-pandemic levels, we’re keen to support innovative parametric-powered solutions that give travellers valuable protection if their plans are disrupted.”
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