CPPGroup Plc CPP launches parametric lost luggage product
August 17 2021 - 07:00AM
RNS Non-Regulatory
TIDMCPP
CPPGroup Plc
17 August 2021
17 August 2021
CPPGroup plc
("CPP" or "the Group")
CPP launches first-of-its-kind parametric lost luggage
product
CPP Group (AIM:CPP), the multinational provider of personal
protection and insurance products and services which specialises in
the financial services and insurance markets, is pleased to
announce it has launched the UK's first parametric lost luggage
product in partnership with travel insurance provider Just Travel
Cover.
The technology, which enables real-time support and the
automation of the claims process from the moment the traveller
registers their checked luggage as missing, will be delivered by
Blink, the parametric insurance company acquired by CPP in
2017.
The launch follows the integration of Blink into the Group
earlier this year and is in line with CPP's strategy of investing
in technology and innovation to enhance the products and customer
experiences of its partners
The integration of Blink enables the Group to better deploy
parametric solutions globally using the strength of its local
market businesses, capitalising on the growing demand from travel
insurance companies across the globe for solutions which deliver
differentiation and immediate value at the time of need to
consumers.
The UK launch of the Smart Luggage product, which complements
Blink's existing flight delay and cancellation parametric travel
products, signifies the first success from this strategic
initiative.
CPP intends to further develop its parametric capabilities both
within the travel and wider insurance sector.
Jason Walsh, CPP Group CEO, commented:
"Parametric technology will play a massive part in the future of
the travel insurance industry and this partnership shows that we
are at the forefront of innovation in the space. To partner with a
business like Just Travel Cover is further evidence of our growing
reputation and ability to attract high profile partners in our home
market.
"With international travel markets beginning to open up, and
demand for insurance products powered by this kind of technology
growing across the territories we serve, the opportunity ahead of
us is an exciting one."
Enquiries:
CPP Group plc via Alma PR
Jason Walsh, CEO
Oliver Laird, CFO
Sarah Atherton, Group Company Secretary
Alma PR (Financial PR Adviser) +44 (0)20 3405 0205
Josh Royston cpp@almapr.co.uk
David Ison
Kieran Breheny
About CPP Group:
CPP Group takes away many of the stresses and strains of daily
life for millions of people across the globe. In collaboration with
selected partners in each country in which the Group operates, it
develops, aggregates, offers and supports a range of personal
protection and insurance products, which are sold alongside, or
packaged with, the core product offerings of the Group's partners.
CPP is listed on AIM, operated by the London Stock Exchange.
For more information on CPP visit
https://international.cppgroup.com/
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