Paul Prendergast, CEO of Blink said:
“Triggered by the volatility of the Covid-19 period, commercial businesses are already demanding more clarity and security from their insurance products, all of which can be provided by a real-time parametric solution.
“Using our platform for a travel disruption solution confirmed how it can simplify and innovate traditional insurance models and we’re now supporting more than 650,000 customers.
“We’ve refined our platform’s potential and are in a great position to launch a commercial product. Working with the team at Lloyd’s Lab will enable us to establish further data points and understand where the market opportunities lie.”