Blink Parametric and Firemelon announce strategic partnership

Blink Parametric and Firemelon have formed a strategic partnership, offering Insurtech’s real-time parametric solutions and assistance to all travel insurance providers that use Firemelon’s Magenta Insurance System platform.

Blink Parametric provides parametric as a service (PaaS) solutions to its clients’ traditional travel insurance offerings. It specialises in high frequency, low severity claims across the travel sector, providing flight disruption and lost luggage solutions as well as developing climate, weather, energy and business interruption products supported through its automated platform.

Belfast-based Firemelon provides insurance and administration systems to travel insurance brands. Its Magenta platform is utilised for policy administration by over 30 insurers, brands, brokers, claims handling and assistance companies across the UK, Europe, South Africa, the USA and Canada.

Carl Carter, Chief Commercial Officer of Blink Parametric said: “Firemelon’s Magenta system will be ‘Blink Parametric-enabled’ from February onwards, and this is where PaaS meets SaaS.”

He added: “Significant commercial and service benefits will result for travel insurance brands across policy sales, claims management, real-time assistance and reporting functionality through utilising the Magenta Insurance System and accessing Blink Parametric technology.”

Managing Director of Firemelon, Zena Carter, also said: “Innovation is at the heart of product development at Firemelon and Magenta is continuously enhanced as we move our product forward to benefit our clients.

“With Blink Parametric, we have gained a strategic partner that shares our commitment to delivering simple, intuitive, powerful solutions and in the travel insurance sector, their real-time digital assistance resolution is a highly valued differentiator.”