Cork’s Blink Parametric to double staff numbers

The firm provides claims assistance to the travel insurance sector amid buoyant growth in flights and passenger numbers

Based in Cork's City Quarter, Blink Parametric serves the travel insurance sector with real-time claims assistance related to flight disruption and lost or delayed luggage. 

Cork insurance firm Blink Parametric has announced plans on Monday to increase its headcount, effectively doubling its workforce by the end of 2025. 

Based in City Quarter, the company serves the travel insurance sector with real-time claims assistance related to flight disruption and lost or delayed luggage.

In a statement, the company said the expansion will be across all technical roles including presales, full stack developers, quality assurance, and data analytics with opportunities across multiple levels.

The global parametric insurance industry was valued at $11.7bn (€10.6m) in 2021 and is projected to reach $29.3bn by 2031. 

Blink Parametric serves the global travel insurance sector which is experiencing market growth predicted to be nearly eight times larger in 2030 than it was in 2021, buoyed by the number of flights and passenger numbers returning to pre-covid levels by 2024.

Blink Parametric was founded in 2016 as a high-potential insurtech startup and was acquired by the CPP Group in 2017.

Chief executive Sid Mouncey said: "From this Cork hub, we leverage large-scale data sets to create solutions that appear simple and intuitive to insurers and their customers.

"We deliver real-time insurance assistance solutions to automate insurance claims and payments, used worldwide every hour of every day. 

"Our strategic objectives are ambitious and include becoming the ‘go-to’ partner for the world’s large-scale insurers and brands, driving mass adoption of parametric technology."

Finance minister Michael McGrath said the anouncement "further demonstrates the strength of Cork’s tech sector power base and its increasingly global reach. 

"It is to the credit of the Blink Parametric team commitment to delivering world-class insurtech innovation that it has secured its position at the heart of the CPP Group growth strategy. I applaud that achievement.”