Bolttech, an insurtech company led by Robert Schimek, has raised $246 million in a Series B funding round to support the expansion of its platform insurance business from the United States to Asia. In the U.S., Bolttech operates an insurance marketplace called Bolt Exchange, connecting insurers, insurtechs, and distributors to build comprehensive insurance offerings. In Asia and Europe, the company specializes in embedded consumer protection for mobile phones and other digital devices. The funding aims to integrate these two business models, fueling expansion into new markets and supporting M&A activities, such as Bolttech’s recent acquisition of Polish device insurer Digital Care. Major investors in this round include Tokio Marine, MetLife Next Gen Ventures, and LeapFrog. Bolttech’s strategic goal is to unite its marketplace capabilities with its device protection services, although market entry poses licensing and regulatory challenges.

Insurtech, Telecommunications, Financial Services,United States, Asia, Europe, Singapore

https://www.raptorgroup.com/news/bolttechs-funding-to-bring-platform-insurance-to-asia/