How It Works

Hurricane Non-Damage Business Interruption Parametric Insurance

Automated Financial Validation and Immediate Pay-out Solutions

Following a disaster, 90% of smaller companies fail within a year unless they can resume operations within 5 days1. Blink Interruption offers real-time claim activation and pay-out solutions in the immediate aftermath making it possible for businesses to recover and reopen!

Blink continually
monitors national
weather systems, tracks
hurricane formation and
projected landfall path.

Blink pinpoints potential
risk exposure for Blink
Interruption policy
holders located in
hurricane’s path.

Hurricane hits! Blink
issues immediate
validation request
requiring business
owner response.

Blink validates business
closure by tracking
business activity via open
banking and accounting
software integrations.

Claim payouts
commence after
1 week, to a max
of $10,000 per
week for a 1
month period or
less depending
on the duration of
business closure2.

Bank Account tracked,
business impact
verified and policy
cover levels confirmed.
Payment 1 is made.

Bank Account tracked,
business impact
verified and policy
cover levels confirmed.
Payment 1 is made.

Claim payouts
commence after
1 week, to a max
of $10,000 per
week for a 1
month period or
less depending
on the duration of
business closure2.

Blink validates business
closure by tracking
business activity via open
banking and accounting
software integrations.

Validation process
is repeated and
confirmed. Payment
2 is made.

Validation process
is repeated and
confirmed. Payment
3 is made.

Validation process is
repeated and confirmed.
Final Payment 4 is made.

Immediate Value

Directly controlled,
streamlined claims.

Reduced claim total
because of early liquidity.

Rapid and cost effective
claims resolution.

Positive Insurer and
insured experience.

Validation

Blink Interruption cuts the average claims process time by up to 95%3. It provides liquidity to small and medium-sized businesses in the immediate aftermath of the insured event thereby reducing overall claims values as a direct result of early intervention. Automated claims processing utilising robust and extensive validation activated on day of event.

Business owner purchases Blink
Interruption Insurance.

They register their
business name.

They register their
trading address.

They provide bank
account access.

Blink tracks weather
system, issues request
to business owner
to validate impact.

Claim assessment
commences when
business owner
confirms trading
has temporarily
ceased as a
result of weather
event impact.

Claim assessment
commences when
business owner
confirms trading
has temporarily
ceased as a
result of weather
event impact.

Blink tracks weather system,
issues request to business
owner to validate impact.

They provide bank
account access.

Blink compiles list of all
policy holders impacted.
Data is accessible by Insurer/
Underwriter.

Blink analyses data through
open banking integration with
business owner accounts in
real-time and automatically
triggers weekly payout to
those with no trading receipts
for 1 month post-event2.

Real-time, integrated,
configurable, trackable,
automatic Business Interruption
Insurance solution.

SIMPLE, INTEGRATED, SECURE PROCESS

Same day verification by business
owner on business closure triggers
claim submission (FNOL).

Daily financial tracking assessing business revenue impact by integration with 11,500 US banks and credit unions.
Daily financial tracking on business transaction data via integration with 10 major accounting software systems.

Daily financial tracking on business transaction data via integration with major credit card companies.

KEY ADVANTAGES

With Blink Interruption, our insurance partners can offer fast and transparent cover through a streamlined claims validation platform.
This is a business interruption solution to take to business owners and demonstrate that you’re there for them, when they need you most!

Real-Time Open Banking Integration

Systemic risk reduced

Basis risk reduced

Aggregation risk reduced

Directly controlled,
streamlined claims

Overall business interruption claims total reduced due to early business liquidity support intervention

Opportunity for diverse product
differentiation by cash and
range of real-time services

Float management for underwriters and full reconciliation services

Positive marketing messaging on fresh proposition, meaningful customer relationship and business benefits, trust-building opportunity

Ongoing Business Interruption insurance revenue generation

New Market Segment opportunity for SMEs

1: FEMA: Make Your Business Resilient. Ready.gov and FEMA.gov.
2: $10,000 pay-out and 4 week period are indicative and completely configurable subject to partner market requirements.
3: RIMS Business Interruption Survey 2017. 40% of respondents experienced Business Interruption loss within 5 years. 74% of those claims took between 6 months and 2 years to settle.