Blink Parametric and MAWDY Ireland Reveal Results in Study of Flight Disruption Solution Integration
- Written by: iPMI Global
In October 2023, MAWDY – a global insurance, reinsurance and services company and part of the MAPFRE Group entered into a collaboration with Blink Parametric. The partnership set out to explore the expansion of parametric travel insurance solutions across the global MAWDY assistance product portfolio.
Covering segments of the direct book of the Irish unit of MAWDY initially, the Blink Parametric flight disruption solution rollout expanded across the brand network from January 2024, making the solution accessible to single-trip and annual multi-trip travel insurance customers who purchase either a platinum or gold policy directly via online insurance intermediaries including InsureandGo Ireland and Chill. The benefit activates when a policyholder’s flight is disrupted by more than three hours, with an automated notification and offer of assistance options, including real-time access to one of 1,300+ executive airport lounges worldwide or a real-time cash payout alternative.
The Study outlines impactful commercial outcomes and reports on a rich resource of new data on customer behavioural activity during the period from January to November 2024, aiding pricing and marketing decisions, and delivering an improved understanding of customer travel profiles. Central to the results and findings in the Study are the Net Promoter Score (NPS) ratings and the outcome of a Customer Experience Survey of 3,000+ customers conducted by MAWDY across the same period.
Commercial Results
• 11% increase recorded in take-up of premium product offering flight disruption cover as standard
• 21% increase in average policy premium since including Flight Disruption assistance in higher tier products
Customer Engagement Activity
• 54% registration rate (policyholders registered flights pre-departure)
• 35% of claimants availed of Lounge Access
• 65% of claimants availed of Cash payout
Customer Satisfaction scored 90% overall. The Overall Lounge and Cash Claims experiences earned NPS ratings of 43 and 78 respectively.
Sid Mouncey of Blink Parametric, said, “Feedback is greatly valued at Blink and we are immensely grateful to MAWDY for their willingness to share not only the insights on our collaboration but the measurable results that speak volumes. It is to the MAWDY team’s credit that the results reflect the overall effort. The complexity of this multi-brand and now multi-national partnership following our introduction across MAWDY’s network has proven to be a showcase for Blink’s capacity to offer unparalleled flexibility catering to a diverse array of brand, network and customer requirements bringing benefit to every level of the value chain.”
Blink Parametric travel solutions are designed to deliver operational efficiency in processing high-frequency, low-value travel insurance claims when the traveller needs immediate real-time claim resolution.
Declan Murphy – Head of Commercial, MAWDY, “Our collaboration with Blink has been a great success. The results, including a 90% customer satisfaction rating, delivered within the first year of activation reflects a high-performance solution at work across our network. Our learnings from the data sets are going to enable us to price and market our products more effectively and tailor our offerings based on insights on everything from top departing airports, airlines and flight times to seasonal trends and popular destinations.”
To download the Blink Parametric and MAWDY Case Study, ‘Delivering Innovation in the Travel Insurance Market – Making Bad Days Better!’, visit https://blinkparametric.com/blink-and-mawdy-case-study/
