The company was established in 2016 to provide real-time claims support for flight cancellations and lost/delayed luggage to the worldwide travel insurance industry.

By 2030, the market for this industry is estimated to have grown by over eight times from what it was in 2021, reaching $108.8 billion.

The business announced that its growth will include all technical positions, including presales, full stack developers, QA, and data analytics.

CEO of Blink Parametric said: “From this Cork hub, we leverage large scale data sets to create solutions that appear simple and intuitive to insurers and their customers.”

Michael McGrath the Minister for Finance also commented on the new development: “It is to the credit of the Blink Parametric team’s 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.”

He added: “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.”