Blink Parametric to create 30 jobs
Blink Parametric, an insurance tech company this week announced plans to increase its headcount, effectively doubling its workforce in Cork by the end of 2025.
The Cork company reported that the expansion will be across all technical roles including presales, full stack developers, QA and data analytics with opportunities across multiple levels ranging from experienced hires to graduates, the majority of which will be based in their new Cork-based, City Quarter office location.
It is a parametric insurance business, where customers are provided with a predetermined coverage amount based on the likelihood of specific events occurring.
It serves the global travel insurance sector with flight disruption and lost/delayed luggage real-time claims assistance. The global parametric insurance industry was valued at $11.7bn in 2021 and is projected to reach $29.3bn by 2031.
Blink Parametric Chief Executive Sid Mouncey acknowledged the Blink Parametric evolution from a start-up founded in Cork in 2016 to a thriving technology partner serving the global insurance industry. “From this Cork hub, we deliver real-time insurance assistance solutions to automate insurance claims and payments, used worldwide every hour of every day,” he said.
“Our strategic objectives are ambitious and include becoming the ‘go-to’ partner for the world’s large-scale insurers and brands, driving mass adoption of parametric technology. I look forward to delivering on further growth by building on our existing presence here in Cork and investing in its rich resource of skilled and talented people.”
Speaking at the opening of the company’s offices, Minister for Finance Michael McGrath welcomed the announcement, adding that it "further demonstrates the strength of Cork’s tech sector power base and its increasingly global reach.
This investment in people, infrastructure and R&D will serve Ireland’s economy, provide skills and opportunity for our graduates and add to our outstanding reputation for excellence in technology,” he said.
CEO of IDA Ireland Michael Lohan added that Blink Parametric’s decision to locate in Cork is “very welcome news.” He also said that its presence is a valuable reference point in attracting InsurTech investment into the south west of the country.