Entering the Broker Innovation Awards: tips from Blink Parametric

Claims Media spoke with Sid Mouncey, CEO of Blink Parametric, about their stellar award win at the 2023 Broker Innovation Awards. Sid also shares some advice for this year’s entrants and some predictions for the biggest trends at the Broker Innovation Awards 2024.

Could you share with us what this recognition means to Blink Parametric and how it has impacted your company since?

The recognition is powerful – and shared as a team achievement. We competed within a professional peer group that we know and respect, and were evaluated by industry experts – so the win holds real value for us.

Its impact has been hugely positive. In the aftermath, we were happy to benefit from a further boost in profile that we amplified across our networks and of course, our Blink CyberScan solution became known as “award-winning” from that point!

What specific aspects of your work or projects do you believe were most instrumental in securing your award?

The awards aim to showcase excellence through great innovation so we focussed on product ingenuity, accessibility, ease of use and our extensive, active international customer network.

Blink CyberScan serves as a personal data protection product. It searches for compromised personal data on insecure sites as well as the dark web. It is an embedded, standalone and micro-SME InsurTech and Cyber solution, and stood out from the competition for those reasons!

Reflecting on your experience, what advice would you give to companies aspiring to enter the Broker Innovation Awards this year?

Go for it! It’s a great opportunity to tell the world about your product, service and the people behind it.

The discipline of articulating your message and sticking to a word count ensures that you keep your core USP details succinct and to the point – a good skill for any business.

I’d also suggest looking at the potential to enter more than one category so that you can maximise the usage of the great content you create.

How did participating in the Broker Innovation Awards benefit Blink Parametric beyond winning the award itself?

We challenged ourselves to enter and pitch our services and innovative solutions against others in our sector. It was a great exercise for our team and a positive motivator and also gave us an opportunity to network and meet with other leading lights in the industry that we may end up working with at some point.

Looking ahead to the 2024 Broker Innovation Awards, what trends or innovations do you think will be critical for companies to focus on to stand out in the competition?

The main topics we predict will be the use of artificial intelligence (AI) to enhance risk modelling, automate tasks and improve the efficiency of the insurance process. For example, AI could be used to assess risk, process claims, and provide customer service. I think the expanded use of untapped big data and analytics to better understand customer risk and behaviour, to develop more personalised and targeted insurance products and services and create new insurance distribution channels will also be prevalent.

The Broker Innovation Awards are open for entries until the 12 July 2024! To be in with a chance of a win and attending the glittering ceremony on 27 September, make your way over to the Broker Innovation Awards, and get your entries in today.

Image: Fuller Marketing/Broker Innovation Awards.

Emma Cockings Emma is a content editor for Claims Media. Emma is a experienced writer with a background in client-centric personal injury for a major firm. She has attended and reported on multiple brokerage events throughout her career.