Blink Parametric, a pioneer in real-time travel insurance solutions, has entered a global agreement with MAWDY, an international insurance, reinsurance, and services firm and a part of the MAPFRE Group.
The collaboration aims to meet the growing demand for real-time travel insurance solutions, especially in instances of flight delays and cancellations, ensuring travellers are supported when they need it most.
Blink Parametric is at the forefront of the InsurTech industry, designing solutions that enhance operational efficiency in processing high frequency, low value travel insurance claims. Their real-time parametric platform aims to deliver swift and immediate claim resolutions to travellers in need.
The new product offering allows eligible MAWDY Ireland policyholders to gain real-time access to over 1,300 executive airport lounges worldwide or opt for a cash payout if their flight is disrupted by more than 3 hours. Once a traveller registers their flight details, Blink Parametric monitors it in real-time, notifying the traveller instantly in case of delays and offering them choices aligned with their policy terms.
The benefits will be applicable to both single trip and annual multi-trip travel insurance customers. The partnership with MAWDY Ireland will commence by covering segments of the direct book of travel insurance business and later expand to other MAWDY-insured travel insurance products and brands.
The partnership with MAWDY Ireland is a landmark expansion for Blink Parametric, as MAWDY solutions are known to power some of the largest travel insurance brands across continents.
Blink Parametric Chief Executive Officer Sid Mouncey said, “MAWDY is an industry giant and we are excited by the potential that lies ahead as we collaborate on new product innovation and value-add opportunities across their global network. Partnering with MAWDY Ireland is an important first step and marks a landmark expansion for Blink Parametric.
“MAWDY has an outstanding track record for driving insurtech investment and innovation to meet the needs of an ever-changing travel environment and we look forward to delivering world-class real-time digital assistance and customer experience to their travel insurance clients.”
Head of Commercial at MAWDY Ireland, Declan Murphy, said, “One of the core elements of the MAWDY customer strategy is to offer best in class products with genuine added value. Incorporating Blink Parametric real-time flight delay services initially into our direct-to-consumer service offering is just the latest step in our overall innovation and digitalisation strategy, which places superior service delivery as a priority. We will continue to work with Blink Parametric to embed additional real-time assistance services into our products and partner brands over the next 12 months. As one of the industry leaders, this real-time flight disruption solution is a proven and very timely fit that aligns fully with our views on supporting customer care through smart innovation.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global