Blink Parametric and Getcover.com, a trading name of London-based Lloyd’s broker Newpoint Insurance Brokers Limited, have partnered to launch a suite of bespoke online travel insurance products using a real-time parametric flight delay solution for their eligible travel insurance policyholders.

Getcover.com is the first partner to access Blink Parametric-enabled technology via Firemelon’s Magenta Insurance System platform since the travel insurance sales and policy administration system provider forged a strategic alliance with Blink Parametric in January. The product is underwritten by specialist insurer Financial and Legal Insurance Company Ltd.

Blink Parametric is a global InsurTech that provides parametric as a service solutions. It specializes in high frequency, low value claims across the travel sector with real-time propositions for flight delay, flight cancellation, checked luggage delay and loss.

The data-driven flight disruption solution requires an eligible traveler to register their flight details prior to travel. Blink Parametric then monitors the flight in real-time. A flight delay that occurs to the registered flight automatically results in a traveler being notified. Getcover.com customers registered for single or multi-trips are offered choices including airport lounge access if a flight is delayed by two hours or more, or a cash payout per traveler, which is directly deposited into their bank account. The real-time flight delay service will be embedded at no extra cost to the policyholder within all Gold tier policies purchased direct from the Getcover.com website.

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Insurance Software Automation has released a new version of its flagship product, Best Plan Pro.

Best Plan Pro 2.0 leverages linguistic and pattern-driven artificial intelligence to help life insurance agents pre-qualify their clients. Best Plan Pro has been in the InsurTech space since 2019 as an underwriting tool for life insurance agents. Its patent-pending technology uses AI to compare dozens of insurance products instantly and provide agents with quotes and product recommendations based on a client’s medical conditions and the underwriting criteria of the carrier.

Version 2.0 couples Best Plan Pro’s technology with an upgraded interface and data entry system. Now, agents can automatically pre-qualify a client for final expense, term life, and/or Medicare supplement products.

Zachary Bornheimer, lead developer of Best Plan Pro, said in a company press release that his goal is to leverage linguistic and pattern-driven AI to help agents make better decisions.

Insurance Software Automation is an insurance software development company and a subsidiary of IIP Group. ISA provides a variety of business process automation tools for both agents and carriers.

Sources: Blink Parametric, IIP Group