Lloyd’s broker MNK Re in strategic tie-up with insurtech Blink Parametric

Specialist Lloyd’s of London re/insurance broker  MNK Re has unveiled a strategic partnership with Irish insurtech Blink Parametric.

The collaboration will see the early rollout of Blink’s flagship parametric flight disruption solution, with further pipeline parametric insurance opportunities for its diverse weather, climate, energy and bancassurance offerings being explored.

Blink was founded as a parametric as a service (PAAS) insurtech focused on a flight disruption travel insurance solution. It enables companies to communicate with customers in real-time, offering alerts, status updates, service benefit options, as well as compensation. The company launched Blink Parametric in 2020, offering a full suite of parametric insurance solutions.

Sid Mouncey, chief executive officer of Blink Parametric, said: “Together [with MNK Re] we will be designing and delivering simple, intuitive, online products across the Blink platform to a global client base. We are excited that our flight disruption solution will lead the way, followed by increasingly relevant climate and energy solutions, allowing us to showcase the outstanding partner and customer experience that MNK Re has established as its standard.”

Manoj Kumar (pictured), group chief executive and managing director of MNK Re, said: “As the travel market reopens, the unique real-time service delivers the speed and convenience that our clients both demand and deserve. It is clear that the future of insurance lies in the accessibility of simple, relevant and effective insurance coverages that better protect policyholders.

Harry Titherley, head of innovation at MNK Re added: “The wider opportunities that parametric re/insurance solutions bring, could have a game-changing effect in addressing a wide range of risks from climate change, natural catastrophes and extreme weather through to variations in energy consumption. This is just the beginning.”

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