Cork-based Blink Parametric has announced the creation of 30 technolgy jobs as it opens its new European headquarters in City Quarter.
Founded in 2016, Blink Parametric serves the global travel insurance sector with flight disruption and lost/delayed luggage real-time claims assistance.
This sector is experiencing market growth predicted to be nearly eight times larger in 2030 than it was in 2021 and is expected to reach $108.8 billion by 2030.
The company said its expansion will be across all technical roles including presales, full stack developers, QA and data analytics.
Blink Parametric chief executive Sid Mouncey noted the company's evolution from a high potential insurtech start-up founded in Cork in 2016 to a thriving, agile, specialist technology partner serving the global insurance industry today.
"From this Cork hub, we leverage large scale data sets to create solutions that appear simple and intuitive to insurers and their customers," the CEO 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 am proud to say that we are on track following significant launches of our flight disruption solution in the US, UK, Italian and Japanese markets year to date," he said.
"We have a promising pipeline of new market opportunities and 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," he added.
The CEO of IDA Ireland Michael Lohan said that Blink Parametric's presence in Cork is a valuable reference point as we continue to attract InsurTech investment into the South West.
Minister for Finance Michael McGrath said the company's expansion further demonstrates the strength of Cork's tech sector power base and its increasingly global reach.
"It is to the credit of the Blink Parametric team commitment to delivering world-class InsurTech innovation that it has secured its position at the heart of the CPP Group growth strategy. I applaud that achievement," the Minister said.
"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 added.
