Draft:Bolttech
Submission declined on 20 September 2024 by Johannes Maximilian (talk).
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| Submission declined on 18 January 2024 by Mach61 (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by Mach61 9 months ago.
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| Submission declined on 4 November 2023 by SunDawn (talk). This draft's references do not show that the subject qualifies for a Wikipedia article. In summary, the draft needs multiple published sources that are: Declined by SunDawn 12 months ago.
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| Submission declined on 14 January 2023 by TheChunky (talk). This submission appears to read more like an advertisement than an entry in an encyclopedia. Encyclopedia articles need to be written from a neutral point of view, and should refer to a range of independent, reliable, published sources, not just to materials produced by the creator of the subject being discussed. This is important so that the article can meet Wikipedia's verifiability policy and the notability of the subject can be established. If you still feel that this subject is worthy of inclusion in Wikipedia, please rewrite your submission to comply with these policies. Declined by TheChunky 21 months ago. | |
Comment: Unfortunately, most of this draft is based on routine business coverage that doesn't indicate notability, cf. WP:ORGTRIV. Best, --Johannes (Talk) (Contribs) (Articles) 18:52, 20 September 2024 (UTC)
| Company type | Private Limited Company |
|---|---|
| Industry | Financial Technology |
| Founded | 2020 |
| Headquarters | Singapore |
Key people | Rob Schimek, CEO |
Number of employees | 1500[1] |
| Website | bolttech |
bolttech is a Singapore-headquartered financial technology company, active in more than 35 markets across Asia, Europe, North America and Africa.[2] It operates a technology-enabled insurance exchange,[3] with $50+ billion in quoted premiums annually.[4]
Company history
[edit]bolttech was launched in 2020,[5] Rob Schimek, was appointed as the Group CEO.[6] In July 2021, bolttech closed a series A round, initially raising US$180 million.[7] Total funding was later raised to US$247 million.[8] Following the series A funding round, bolttech achieved Unicorn (finance) status.[9]
Also in July, bolttech acquired Zurich-based Insurtech B2BB2C platform i-surance, expanding its footprint into European markets.[10] In October 2022, bolttech secured series B investment. Japanese insurance company Tokio Marine invested US$50 million into bolttech.[11] The total funding for bolttech’s series B was US$246 million as of September 2023, with key investors including global life insurance company MetLife, Malaysia’s sovereign wealth fund Khazanah Nasional, and impact investment firm LeapFrog.[12]
Business structure
[edit]bolttech provides a cloud computing-powered insurance exchange which connects insurers, distributors and customers to trade insurance products.[13] The exchange platform allows insurance companies to offer products within and beyond their specialisations by partnering with others on the platform.[14] Non-insurance companies are also able to provide coverage for their customers in the same way.[13] The company also provides 5.6 million active device protection policies across Asia and Europe.[15]
Acquisitions
[edit]2021
bolttech acquired i-surance, a B2BB2C digital insurance platform.[16]
2022
bolttech acquired Singapore-based AVA Insurance Brokers and AVA Insurance Agency.[17]
bolttech acquired majority shareholding in Indonesia-based Axle Asia.[18]
2023
bolttech acquired Poland-based Digital Care.[19]
References
[edit]- ^ "Insurtech Unicorn Bolttech Raises $196 Million in Latest Funding Round". The Wall Street Journal. May 17, 2023.
- ^ Sebastian, Dave (May 17, 2023). "Insurtech Unicorn Bolttech Raises $196 Million in Latest Funding Round". The Wall Street Journal.
- ^ Md Nur, Nurdianah (September 29, 2021). "Making insurance more accessible". The Edge Singapore.
- ^ PricewaterhouseCoopers. "Bolttech CEO on finding balance in a high-growth stage". PwC.
- ^ Tan, Gillian; Chew, Elffie; Baigorri, Manuel (October 17, 2023). "Singapore's Insurtech Unicorn Bolttech Weighs $300 Million US IPO". Bloomberg.
- ^ Javier, Rozelle Alyssa (April 7, 2020). "Insurtech bolttech names group CEO". S&P Global Market Intelligence.
- ^ Lee, Jane (July 1, 2021). "Insurance tech startup bolttech raises $180 mln, valued at over $1 bln". Reuters.
- ^ Sebastian, Dave (May 17, 2023). "Insurtech Unicorn Bolttech Raises $196 Million in Latest Funding Round". The Wall Street Journal.
- ^ Agarwal, Harish (November 15, 2021). "How Asia's Latest Insurtech Unicorn Is Transforming The Insurance Industry". Forbes.
- ^ Olano, Gabriel (July 23, 2021). "Insurtech unicorn bolttech acquires European firm i-surance". Insurance Business Asia.
- ^ Salim, Ilyas (October 17, 2022). "Tokio Marine leads Series B round of insurtech startup bolttech with US$50m investment". The Business Times.
- ^ "Revolutionising Insurtech: Rob Schimek, CEO of Bolttech, on the Power of Connection". EDBI. October 10, 2023.
- ^ a b "bolttech: connecting insurers, distributors and customers". InsTech. August 1, 2022.
- ^ Scott, Alwyn (September 7, 2021). "Major U.S. insurers jump on distribution platforms to gain customers, sales". Reuters.
- ^ "Device Protection". bolttech. 15 May 2021.
- ^ "Bolttech Expands Global Footprint". Finews. July 26, 2021.
- ^ Bhushan, Kul (February 16, 2022). "Bolttech buys SG insurance firm Ava". Tech In Asia.
- ^ Vaswani, Simran (October 6, 2022). "SG Digest: bolttech acquires majority stake in Axle Asia; Proterra invests in Apeiron Bioenergy". Deal Street Asia.
- ^ "SG Digest: bolttech buys Poland's Digital Care; Princeton Digital eyes raising $1b debt". Deal Street Asia. October 18, 2023.
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