Scout InsurTech Interview with Blink Parametric

Blink Parametric is a B2B SaaS company that creates parametric, white-labelled solutions to enhance the services and customer experiences of the world’s leading insurance companies. Chris Luiz sat with CEO, Sid Mouncey, to learn more about how Blink Parametric is impacting the industry.

Who are your clients?

We work with large global insurance firms and their distribution partners including online travel agencies, airlines, telcos and retail banks. Some of our partners include global providers such as Assurant, MAPFRE and Zurich. We also collaborate with large insurers operating in single markets at scale.

What does your product do?

Our products provide real-time support and assistance when issues arise for consumers. We leverage data to identify when insurance claims should be paid and automate claim payments in a simple, fast and reliable way. Our solutions track events such as flight delays or cancellations, enabling us to provide immediate support—whether it’s granting airport lounge access or transferring funds directly to a customer’s bank account to cover unexpected expenses.

All of our solutions are designed to improve operational efficiency, improve revenues, increase engagement and transparency and drive higher satisfaction rates – thereby creating value for the insurer and value for the customer.

Our platform is globally scalable, and operates across multiple distribution channels, multiple payment types and multiple languages – supporting our clients wherever their markets are, and we currently work with insurers across Asia, Europe, North America and South America.

How much capital have you raised?

Blink was acquired by a listed UK business in 2017. As a wholly owned subsidiary, we are funded by this entity, ensuring access to capital and equity.

Was the company born from within or outside the industry?

The company was founded by two tech entrepreneurs with no prior experience in the insurance industry. They developed Blink’s core propositions and leveraged regulatory support from the UK Financial Conduct Authority (FCA) through initiatives like the Sandbox Innovation Program and the Lloyd’s Lab Program. These resources helped bring in insurance expertise to ensure Blink’s solutions were designed correctly for the market.

What growth metrics have you accomplished over the last 12 months?

• Revenue Growth: Top-line recurring revenues have increased by approximately 100 percent.

• Market Expansion: We are now operational in 22 different markets worldwide.

• Client Growth: We serve 28 different insurers.

• Contract Renewals: All primary contracts have been renewed with multi-year terms.

• Market Presence: We have doubled the number of markets we’ve entered in the past year.

  
  

Within your domain, what is the current challenge the industry is facing?

1. Slow Decision-Making in Incumbent Insurers:

   • Many insurers have complex, risk-averse decision-making processes that delay onboarding new technologies. This remains a significant barrier to innovation and improved customer service.

2. Building Stronger Customer Relationships:

   • Insurers are striving to create more personalized, engaging relationships with their customers. Tools like Blink help facilitate this by providing real-time support and enhancing the customer experience.

     
     

How does Blink take a unique approach to providing value?

• White-Labeled Customization: Our services are fully white-labeled under our partners’ brands, ensuring a seamless customer experience.

• Tailored User Experiences: Rather than offering an out-of-the-box product, we create customized solutions designed to align with each insurer’s markets, specific needs and product offerings.

• High Engagement & Satisfaction:

  • Customer Engagement: 30 to 50 percent of insured customers register and actively use Blink’s services, a high rate for the industry.

  • Customer Satisfaction: Some of our major clients report Net Promoter Scores (NPS) of 78 plus after using Blink’s services, demonstrating strong customer approval.

    
    

What inspired the team to start this company?

The founders experienced a major flight disruption while traveling and noticed that there was minimal support available for passengers affected by cancellations and delays. Recognizing a gap in the market, they conceptualized an automated solution to provide real-time alerts and assistance, including rebooking flights, offering lounge access and delivering financial support. The initial concept was focused on flight cancellations but later expanded to include flight delays and baggage delays.

Can you share any goals for the next 12 months?

1. Geographic Expansion:

   • US Market: The US is the world’s largest travel insurance market, and increasing our presence there is a key priority.

   • Latin America: We are actively working on deployments in this region.

   • APAC: With an existing foothold in this region, we see significant growth opportunities and plan to expand further.

2. New Product Expansion:

   • We recently launched a cyber insurance product in partnership with a major credit bureau. Scaling this solution and integrating it with our current insurers is a strategic focus for 2025.

Scout InsurTech Thanks Its Presenting Partner

And Our Scout InsurTech Partners