Shares in real-time assistance products company CPP Group (LSE:CPP) PLC jumped over 17% after it provided an upbeat statement on progress at its insurance technology business, Blink Parametric.
CPP revealed that Blink has signed a new partnership agreement for its flight disruption product with a large European insurer, with a launch in Ireland planned for early 2023.
In addition, Blink has signed a milestone agreement to launch its first offering in the US, which is the world's largest travel insurance market.
It has also formed a strategic partnership with Firemelon, a provider of travel insurance sales and administration systems, which will offer travel insurance providers served by Firemelon's Magenta Insurance System access to Blink's real-time platforms.
In addition, Blink has extended contracts with two of its Canadian partners.
In a statement, Sid Mouncey, CEO of Blink Parametric, commented: "We are making good progress securing new business wins in new markets, retaining key clients and increasing our operational reach and scale. I am particularly encouraged by the start we have made to 2023 and am looking forward to further partner launches in the EU, UK and US markets in the coming months."
CPP shares rose 17.3% to 216.96p in morning trade.