Cppgroup Regulatory News (CPP)

18 August 2020

CPPGroup Plc

Business Update

CPP's F-LITE takes off with major award win

CPPGroup Plc ("CPP" or "the Group") has launched an innovative parametric insurance product in China to provide instant non-cash compensation and support for travellers hit by delays or setbacks in their journey.

The new to market 'F-LITE' has already won the best technology innovation prize at the Asian Digital Insurance Forum 2020 and deals have been struck with partners including China Mobile International, AXA and Generali China Insurance to roll out the service to a potential customer base of 50 million.

F-LITE uses mobile technology to offer instant access to compensation if users experience flight delays and cancellations, including access to airport VIP lounges and duty-free store shopping coupons.

Upgrades to the product planned for later this year will see enhancements such as domestic airport express entry and boarding, food and drink vouchers, airport pick up service and emergency medical access added.

F-LITE accesses real-time data to provide help for customers as they need it, without needing to contact their travel insurance company, making it more efficient for consumers and providers.

Judges at the Asian Digital Insurance Forum, traditionally one of the biggest events of its kind in the world, hailed F-LITE's potential and said it reflected a "customer-first" philosophy.

Jason Walsh, CEO at CPP Group said:

"Winning this award is a reflection of the CPP ethos and corporate vision, where we only develop products based on insight and that help solve genuine consumer issues. This allows us to offer reassurance to those same consumers while adding significant value to our partners.

"This approach, combined with a strong belief in the power of local knowledge, has helped our transformation into a truly global business, allowing us to adapt, innovate and grow in markets across the world."

Enquiries:

CPPGroup Plc

John Brenan, Head of Communications

Email: john.brenan@cpp.co.uk

Tel: +44 (0)7764 378589

About CPP:

CPP Group is a partner focused, global product and services company, specialising in the financial services and insurance markets. We use our local knowledge from 12 country markets within Asia, Europe and Central America to provide our business partners with technology-led product, marketing and distribution expertise that deliver commercial benefits and bring meaningful solutions to over 10 million end customers worldwide.

CPP's diverse range of insurance and assistance products can be designed to suit the bespoke needs of our business partners through providing their customers with peace of mind by reducing the stresses of everyday life, ranging from protection of mobile phones, payment cards and household belongings to keeping travel plans moving and the monitoring of compromised personal data.

For more information on CPP visit https://international.cppgroup.com

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