Blink, one of the world’s fastest growing Travel Insurance InsurTechs has made it onto the INSURTECH100 for 2019. The INSURTECH100 is an annual list of the world’s most innovative InsurTech companies, that are solving significant industry problems, generating cost savings and/ or improving efficiency within insurance, as selected by a panel of analysts and industry experts.
This is just the latest highlight in Blink’s 3-year growth story, which, since its inception in 2016, has seen it grow from a 2-man start up to a trailblazing InsurTech, which was bought by the AIM listed CPP Group just 6 months after it was set up.
Speaking of today’s announcement by FinTech Global, the specialist data and research provider and the organisation behind INSURTECH100, Blink’s co-founder and serial Irish entrepreneur Paul Prendergast said,
“We are honoured to be named amongst the best and brightest in the global InsurTech industry. Selected from a pool of more than 1,000 companies and being awarded such recognition makes this a very proud day for us. 3 years after we started Blink, we continue to grow at speed, driven by our product innovation, our insurance partnerships and our ambition to provide InsurTech solutions to end users in every corner of the world.”
Blink is now a world leader in parametric insurance product innovation, transforming its clients’ complex offerings into superior service experiences with simple, intuitive, online products. The company partners globally with insurance and financial services companies, driving innovation in Asia, Europe and North America.
Blink made it onto the prestigious list amidst strong competition in an industry which is growing at breakneck speed and where new players are joining weekly.
According to FinTech Global, the InsurTech industry has seen huge growth in the last 2 years as insurance companies grapple with the challenges of digital transformation and new demands from customers. Nearly $10bn has been invested in InsurTech companies since the beginning of 2017.
Richard Sachar, Director of FinTech Global commented,
“The companies on this list are the ones that every leader in the insurance industry needs to know about as they consider and develop their digital transformation strategies.”
Blink successfully launched Blink Travel in 2016 and have recently complemented their services platform with Energy, IOT and Weather solutions.
Blink Travel offers an innovative real-time data driven travel disruption solution. 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. Real-time event notification allows for real-time problem resolution. The traveller is immediately offered service choices that can instantly remove the stress and consequences of the disruption ranging from airport lounge access, cash which is immediately deposited into the travellers’ bank account, through to booking and paying for a hotel whilst also booking a new flight.
Mr. Prendergast continued,
“Being able to differentiate ourselves from other businesses in the industry is crucial. What we offer is unique and has a ‘wow’ factor that delivers an extraordinary impact for our partners as they push ahead with their InsurTech transformation objectives. We’ve signed some huge partnerships over the last 24 months, and we have others in the pipeline to be announced this year, so the future is exciting, and this recognition is the perfect acknowledgement and motivator for our team to keep delivering excellence.”