January 8, 2024
Blink Parametric Strengthens Blue Cross Partnership in Canada
Three-year extension marks a new chapter in long-term partnership
Blue Cross offers real-time flight disruption travel assistance solutions in eight Canadian provinces
The most recent Blue Cross Travel Study shows Canadian travellers look for ways to manage risk and enjoy stress-free travel
Cork, Ireland 8th January 2024 – Blink Parametric has agreed to a further three-year deal with Blue Cross, Canada’s most trusted insurance provider. Blue Cross was first to launch the Blink Parametric flight disruption real-time assistance solution in the Canadian market in October 2018. The solution is now offered by Blue Cross in eight Canadian provinces, including Ontario, Québec, Alberta, Saskatchewan, Nova Scotia, New Brunswick, Newfoundland & Labrador, and Prince Edward Island.
This extended, three-year agreement holds particular significance for the Ireland-based InsurTech. Blink Parametric CEO, Sid Mouncey, commenting on the deal said, “Blue Cross backed us right out of the gate in 2018, and was the first brand in Canada to use our innovative platform to assist insured travellers experiencing flight delays or cancellations. Their decision was prescient back then, ahead of the unprecedented global travel turmoil that was to follow. This agreement speaks volumes for the strength of our long-term collaboration and growth over the past five years. I’m proud of the great teamwork and look forward to the next chapter of serving the Canadian market.”
The Blink Parametric flight disruption solution simply requires a customer to register their flight details prior to travel. Blink Parametric then monitors the flight(s) in real-time. If a delay or cancellation occurs on the flight schedule, in line with policy terms, the traveller is automatically notified and offered instant choices. These can include cash pay-outs, lounge access or more to help alleviate the stress and consequences of the delay.
“Our teams ensure that our policy holders enjoy travelling with confidence and peace of mind, whether they are exploring Canada or the world,” said Tim Bishop, Managing Director, Blue Cross of Canada. “Millions of Canadians trust that the travel coverage we offer delivers the assistance they need and we are excited to continue our successful partnership.”
This collaboration is between Blue Cross and Blink Parametric with support from Red Consulting, one of Canada’s leading travel consulting companies.
Canadians are Reducing Travel Stress in 2023 – Blue Cross Travel Study (2,000+ Canadians Surveyed)
Report Extracts: 89% of Canadians have experienced travel-related stress (Top stressors include: Flights cancelled or changed: 33%; Lost or stolen baggage: 32%); 40% are more likely now to purchase travel insurance when planning a trip than in the past; 38% of travellers say the top reason for purchasing insurance is so they can travel without worry. For more information, visit: www.bluecross.ca/travelstudy/
About Blink Parametric
Blink Parametric is a multi-award-winning global InsurTech that transforms its clients’ traditional insurance offerings into superior service experiences with simple, intuitive and transparent parametric products. Its platform serves as the conduit for high frequency, low value claims across Travel, with flight disruption and lost luggage solutions as well as developing solutions within the business interruption sector and online personal data monitoring and cyber solutions. It partners globally with insurance and financial services companies in Asia, Europe, North America and Central and Latin America.
Blink Parametric was founded in 2016, became the first Insurtech in the FCA (UK) Sandbox programme and made TheINSURTECH100 (2019, 2020, 2022), an annual list of the worlds’ most innovative InsurTech companies. Selected for Cohort 5 of the prestigious Lloyd’s Lab innovation accelerator programme in 2020, it has subsequently won multiple UK and European-wide industry awards for Service, Technology, Customer Experience, Best App, Claims Innovation and Cyber Risk, including Outstanding Industry Contribution of the Year at the 2022 ITIJ: International Travel & Health Insurance Journal Awards. For further information visit: https://blinkparametric.com
About Blue Cross
Blue Cross of Canada represents the independent Blue Cross Member Plans and Licensees operating in all regions nationally. These include Alberta Blue Cross, Canassurance Blue Cross (Québec Blue Cross and Ontario Blue Cross), Manitoba Blue Cross, Medavie Blue Cross, Pacific Blue Cross, Saskatchewan Blue Cross and Blue Cross Life. For over 80 years, Blue Cross has provided travel, health and life insurance solutions. For more information, visit: www.bluecross.ca
About Red Consulting
Red Consulting is one of Canada’s leading travel insurance and medical assistance consulting companies. For further information, visit http://redconsulting.ca/