Bolttech announces new insurance partnership in Vietnam
Insurtech unicorn Bolttech has partnered with Viettel Telecom, one of Vietnam’s biggest telecommunications network operators, to launch a new insurance offering powered by Bolttech’s insurance exchange platform.
The new partnership will give Vietnamese customers access to products including health, travel, home, car and motorbike insurance through Viettel’s customer app, MyViettel.
Bolttech says it has partnered with Viettel and reputable insurers to create “an insurance ecosystem” that offers various products tailored towards the specific needs of Viettel’s customers.
Their insurance exchange is described by the company as “a dynamic digital marketplace” that allows businesses to add insurance options to their own customer journeys. It connects consumers with 150 different insurers and over 5,000 insurance products worldwide.
Ta Chien, insurance exchange director for Bolttech in Vietnam, says: “Our partnership with Viettel Telecom, a leading telecommunications provider in Vietnam, is an important milestone for Bolttech. By embedding an insurance platform into the Viettel customer experience, we can reach more customers in Vietnam with a choice of insurance to meet their needs and the convenience to access these products in a simple, easy way.”
Bolttech is already present in 30 markets across Asia, North America and Europe but said that the Viettel link-up would be “another step” in its partner-led expansion strategy.
In February, Bolttech acquired Singapore-based insurance intermediary and specialist broker AVA Insurance in a deal that the firm said would “accelerate the deployment” of its insurance exchange in Singapore. Last December, Bolttech and Samsung announced that they were expanding their device protection partnership, entitled Care+, into six additional countries in Europe to build upon the arrangements it already has in Asia.
It follows the completion of Bolttech’s US$247mn Series A funding round in September 2021 with investors including Singapore’s EBDI and Spain’s Mundi Ventures.
