Insurtech company Blink Parametric announces growth plans

The expansion will be across all technical roles, including presales, full-stack developers, QA, and data analytics. Most of the new roles will be based in Blink Parametric’s new Cork office, located in the City Quarter.

Minister for finance, Michael McGrath, welcomed the announcement, saying it “further demonstrates the strength of Cork’s tech sector power base and its increasingly global reach.” He also praised Blink Parametric for its “world-class insurtech innovation.”

Blink Parametric specialises in real-time consumer parametric propositions within the travel insurance market. The global parametric insurance industry was valued at $11.7bn in 2021 and is projected to reach $29.3bn by 2031. The consumer parametric proposition segment of that market was valued at c.$1.7bn.

Blink Parametric’s CEO, Sid Mouncey, said that the company is “on track” to achieve its strategic objectives, which include becoming the “go-to” partner for the world’s large-scale insurers and brands and driving mass adoption of parametric technology. He also said that Blink Parametric has a “promising pipeline of new market opportunities” and is “looking forward to delivering on further growth” by building on its existing presence in Cork.

CEO of IDA Ireland, Michael Lohan, said that Blink Parametric’s decision to locate in Cork is “very welcome news.” He noted that Blink Parametric’s presence is “a valuable reference point as we continue to attract insurtech investment into the Southwest.”