Blink Parametric focuses on the global travel insurance sector and has ‘ambitious’ plans to expand its services to the world’s large-scale insurers and brands.
Insurance tech company Blink Parametric has revealed plans to roughly double its headcount in Cork by the end of 2025, through the opening of its new EU headquarters.
Blink Parametric said the 30 new roles will expand teams across the company, with jobs including presales, full stack developers, QA and data analytics. The insurtech said there will be roles for both experienced individuals and recent graduates, with most of the jobs based in their new City Quarter office.
As its name suggests, the Irish company is focused on parametric insurance, which is when customers are given a “pre-agreed amount of cover” based on the probability of certain events.
Last year, Allied Market Research claimed the global parametric insurance market was valued at $11.7bn billion in 2021 and could grow to nearly $30bn by 2031.
Blink focuses on the global travel insurance sector, offering services such as real-time claims assistance when flights are disrupted or luggage is lost.
The company was founded in 2016 and has been expanding its services overseas in recent years. In April, Blink landed a deal that saw its flight delay services added to select plans in Travel Insured International, a US-based travel insurance provider.
Blink Parametric CEO Sid Mouncey claims the company’s automated, real-time insurance assistance services are being used worldwide “every hour of every day”.
“Our strategic objectives are ambitious and include becoming the ‘go-to’ partner for the world’s large-scale insurers and brands, driving mass adoption of parametric technology,” Mouncey said. “I am proud to say that we are on track following significant launches of our flight disruption solution in the US, UK, Italian and Japanese markets.
“We have a promising pipeline of new market opportunities and look forward to delivering on further growth by building on our existing presence here in Cork and investing in its rich resource of skilled and talented people.”
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