The expansion will focus on technical roles such as presales, full stack developers, QA, and data analytics, with opportunities available for experienced professionals as well as graduates. The company’s new EU headquarters, located in City Quarter, will serve as the base for the majority of the new hires.
Founded in 2016, Blink Parametric became the first insurtech in the FCA (UK) Sandbox programme and was acquired by CPP Group in 2017. With a focus on customer-centric parametric insurance products, Blink Parametric continues to lead in product innovation and has been recognised for excellence in technology and customer experience.
The launch event was attended by Minister for Finance Michael McGrath, who praised Blink Parametric’s commitment to delivering world-class InsurTech innovation and highlighted the strength of Cork’s tech sector. The company’s expansion aligns with the growth strategy of the CPP Group, further solidifying Cork’s position in the global tech industry.
Blink Parametric specializes in B2B2C parametric travel solutions within the global travel insurance sector. Their real-time claims assistance focuses on flight disruption and lost/delayed luggage, catering to a market segment valued at approximately $1.7 billion. The travel insurance sector is predicted to experience significant growth, with the market projected to reach $108.8 billion by 2030, driven by the expected return of flights and passenger numbers to pre-COVID levels by 2024.
Sid Mouncey, CEO of Blink Parametric, highlighted the company’s evolution from a high-potential startup to a leading global technology partner in the insurance industry. He emphasized their consumer-centric approach and their role in driving transformative change as insurers adapt their business models and distribution channels. The company aims to become the go-to partner for large-scale insurers worldwide and promote the widespread adoption of parametric technology.
The announcement received support from CEO of IDA Ireland, Michael Lohan, who commended Blink Parametric’s decision to establish their presence in Cork. He expressed confidence in attracting more InsurTech investments to the region and wished Blink Parametric success in their endeavors.
Blink Parametric’s innovative platform enables the transformation of traditional insurance offerings into superior service experiences. Their solutions cover various parametric insurance products, including flight disruption, lost luggage, travel weather, business interruption, and cyber solutions. The company collaborates with insurance and financial services companies globally, serving markets in Asia, Europe, North America, Central, and Latin America.
