Blink Parametric Enters African Market with MAWDY
Irish insurtech company Blink Parametric has entered the Sub-Saharan market in a significant partnership with MAWDY, a global insurance and reinsurance company and part of the MAPFRE Group. This move marks the launch of Blink's flagship real-time flight disruption service in Kenya, with plans for broader regional expansion. The partnership aims to introduce digital travel insurance solutions to ceding insurers reinsured by MAWDY, offering assistance to travellers affected by flight delays.
Blink Parametric CEO Sid Mouncey says: “This is a landmark expansion and a clear demonstration of our increasingly effective and productive partnership. MAWDY solutions power some of the biggest insurance brands across five continents, and our Blink Parametric platform is now primed to switch on and start delivering real-time travel assistance, worldwide, 24/7 to their partners and customers in Kenya. I look forward to building on this exciting new market experience across Africa."
Real-Time Flight Disruption Assistance
At the heart of Blink’s offering is the Blink Flight Disruption solution, designed to streamline the claims process for travellers facing flight delays. The service allows travellers to register their flight details, after which Blink monitors their flight in real-time. Should the flight be delayed by four hours or more, the traveller is notified and granted VIP access to one of 1,300 executive airport lounges worldwide.
The service aims to alleviate the frustration and inconvenience of delays, while maintaining operational efficiency by handling high-frequency, low-severity claims in real-time. Access to these lounges is valid for six months, ensuring that customers retain flexibility even if they don't use the service on the day of their disruption.
This digital-first approach is key to addressing the unique challenges in the Sub-Saharan market, where infrastructure and technology development vary widely. By automating the claims process, Blink offers a solution that requires minimal manual intervention, a feature that has the potential to reshape how insurers in the region handle travel-related claims.
MAWDY and Blink Parametric
Zigor Díez Gamboa, MAWDY’s Global Head of Travel Segment says: “MAWDY operates in Sub-Saharan Africa within the travel insurance, banking and airline sectors. Supporting our 160-strong partner base and their customers over the past 20 years has established MAWDY as the travel reinsurer of reference in most markets, and we continue to grow. Adding Blink Flight Disruption to our service benefits across Africa allows us to offer a superior service delivery and boost our digital assistance innovation strategy for the region,” he says.
The integration of Blink’s technology complements MAWDY’s broader digital strategy. Gamboa explains: “Real-time assistance, when they need it, is key to delivering on our customer commitment. We mean it when we say, ‘We are MAWDY and we are here, for you.’ This is a great solution for a great market!”
The timing of the launch, slated for Q3 2024, aligns with a period of growing demand for digital solutions in the region, particularly in travel insurance and parametric offerings. The gradual economic recovery post-pandemic has driven renewed interest in international travel, particularly in countries like Kenya, where the travel and tourism sector is a critical component of economic activity. MAWDY’s introduction of real-time travel insurance assistance aims to capture this renewed momentum, offering an innovative service that enhances the customer experience during travel disruptions.
A Growing Market for Insurtech Solutions
Mouncey is optimistic about the future, emphasising the long-term potential of the African market for Blink’s solutions. “This expansion is just the beginning,” he says. “We’re excited to bring our technology to a region that’s ripe for innovation in the insurance sector. The opportunities for growth are immense, and we’re looking forward to working closely with MAWDY to deliver real value to insurers and their customers across Africa.”
**************
Make sure you check out the latest industry news and insights at InsurTech Digital and also sign up to our global conference series - FinTech LIVE 2024
**************
