How Blink’s innovative travel disruption solution is revolutionising travel insurance - CPP Group
CPP Group
  • 167.50
  • -5.00
  • As of 07 February 2023 20:15
  • About us
    About us
    • Who we are
    • What we do
    • Where we are
    • Who we work with
    Menu
    • Who we are
    • What we do
    • Where we are
    • Who we work with
    People
    • Values & Culture
    • Governance
    • Gender Pay
    Menu
    • Values & Culture
    • Governance
    • Gender Pay
    Leaders
    • Meet our leadership team
    Menu
    • Meet our leadership team
    About us

    We create assistance and insurance products that reduce disruptions to everyday life for millions of customers across the world

    MORE

  • Investors
    Investor
    • Overview
    • Strategy
    Menu
    • Overview
    • Strategy
    Shareholders
    • Results, reports and presentations
    • Shareholder information
    • Share price and regulatory news
    Menu
    • Results, reports and presentations
    • Shareholder information
    • Share price and regulatory news
    Governance
    • AIM rule 26
    • Corporate governance
    Menu
    • AIM rule 26
    • Corporate governance
    2021 Annual Report

    See the highlights from our 2021 annual report and download the full details

    DOWNLOAD

  • Media
    Newsroom
    • News
    • Blog
    Menu
    • News
    • Blog
    Resources
    • Downloads
    Menu
    • Downloads
    Newsroom

    Explore our latest news, our blog section and all the other insights

    MORE

  • Contact us
  1. Home
  2. Blog
  3. How Blink’s innovative travel disruption solution is revolutionising travel insurance

How Blink’s innovative travel disruption solution is revolutionising travel insurance

The latest InsurTech solution that removes the inconvenience of flight delay

Flight delay and cancellation insurance products, there’s plenty of them out there. However, most are a reactive solution to a problem that’s already happened and caused enough irritation. After which you have to fill out forms, submit documents and then wait for your payment to arrive… What if there was a travel insurance product that could remove the need for claims processes? Better yet, it tells you that there’s been an issue with your flight and solves the problem for you?

Blink’s travel disruption solution takes this kind of proactive approach. It offers customers a real-time insurance product that meets the speed and convenience that modern customers demand. Acquired by CPP Group in 2016 Blink has since formed a number of distribution partnerships in large markets including Blue Cross in Canada and Generali in Pan Asia.

With the Blink travel disruption solution, a customer is notified promptly if a flight is delayed, cancelled or a connecting flight will be missed. Real-time event notification allows for real-time problem resolution. Blink offers customers options for a cash payment, re-booking of next available flights or access to airport lounges to remove the stress and anxiety of travel disruption.

Paul Prendergast, CEO of Blink, talks about where the concept for Blink’s travel disruption solution came from in the latest Willis Towers Watson Quarterly InsurTech Briefing: ‘We were looking at a data driven insurance platform and felt that building a tangible product was the best way to communicate what we were trying to achieve. Travel insurance was an interesting sector as it is bigger than digital music with little or no innovation over the past 20 years. Secondly, travel was very mature in terms of data availability and there were many global providers that we could partner with to build a scalable event-based insurance solution.’

Paul explains how the main challenge with bringing this concept to life was in establishing the best way to bring the idea to market. ‘We tested a number of approaches and are now very happy that we are working with travel insurance companies across the globe to help them provide innovative solutions and enhanced customer experience to their customers.’

Although there are so many travel insurance related products on the market, Blink’s solution doesn’t re-package what’s already out there. Blink’s event-based insurance re-thinks products that provide reactive solutions to travel problems. With a traditional insurance indemnity, customers will often have a number of issues to tackle when their moment of truth arises and they need to make actual use of their insurance product. Providing proof, follow-up correspondence, covering costs themselves, realising that their policy doesn’t cover them for what they hoped it would – these are just a few of the problems that customers will encounter with a conventional travel insurance product. Paul discusses the importance of continuing to improve customer experiences by keeping things simple for them:

‘Customers today demand simplicity and speed. Our customers are always pleasantly surprised at how simple and transparent the process is and how quickly it works. They will continue to demand higher levels of service offerings and it is up to users of data to provide a progressive customer experience that matches advancements in technology.’ It’s a real-time solution that proactively notifies the customer if there has been any disruption to their travel plans before solving the problem for them. They don’t need to fill out any claim forms and there are no frictional cost implications to the customer i.e re-booking flights themselves.

For travel insurance companies Blink’s solution could be a real game changer for their existing product. Paul describes two ways in which their travel insurance partners can benefit from the Blink Solution, ‘Firstly, as a way of adding real value to their core travel insurance solution and providing real innovation to their customers. Most partners are looking to remove the fluff from their policies where there is no real usage or real customer value and to replace this with solid tangible value… The second way is to sell the solution as a standalone product to generate a new revenue stream.’

To read more about how the Blink travel disruption solution works click here.

This post is extracted from an article in the Willis Towers Watson Quarterly InsurTech Briefing Q3 2018.

Other posts
Our websites
  • India
  • Italy
  • Spain
  • Turkey
  • United Kingdom
  • Blink Innovation
  • Globiva
Stay in Touch

Keep up to date on social media or contact us with any other information

Twitter Linkedin-in Facebook-f
  • Privacy statement
  • Modern slavery statement
  • Terms of use
  • Accessibility
  • Cookie policy
  • Colleague data privacy notice
Menu
  • Privacy statement
  • Modern slavery statement
  • Terms of use
  • Accessibility
  • Cookie policy
  • Colleague data privacy notice

CPPGroup plc registered office address 6 East Parade, Leeds, LS1 2AD – Registered in England and Wales Number: 7151159.
Copyright © CPPGroup plc 2023. All rights reserved to their respective owners.

This website or its third-party tools process personal data (e.g. browsing data or IP addresses) and use cookies or other identifiers, which are necessary for its functioning and required to achieve the purposes illustrated in the cookie policy. You accept the use of cookies or other identifiers by closing or dismissing this notice, by clicking a link or button or by continuing to browse otherwise.
More information Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
Share This
  • Facebook
  • Twitter
  • LinkedIn