Insurtech unicorn Bolttech partners with Thailand's Max Card
Insurtech unicorn Bolttech is partnering up with Max Card, the digital wallet provider in Thailand, to offer insurance products directly through the company’s mobile app.
Powered by Bolttech's insurance exchange, the Max Me application will provide Max Card customers with a quick and easy way to purchase insurance from a full suite of products including vehicle, travel and accident insurance.
It is the latest expansion partnership for Bolttech, which, in the space of just two years, has built the world’s largest insurance exchange. Headquartered in Singapore, Bolttech already serves customers in 30 markets across North America, Asia and Europe, partnering with more than 800 distribution partners and reaching millions of customers.
In May, the firm partnered with Viettel Telecom, one of Vietnam’s biggest telecommunications network operators, to provide Viettel customers with access to insurance products in the MyViettel app. Its latest partnership with Max Solution – the operators of Max Card – is its latest venture into Asia, where it is already active in 10 different markets.
Bolttech enabling insurance ‘at the touch of a finger’
The announcement comes less than two months after insurance giant Tokio Marine led a Series B investment in Bolttech, which has raised over US$200mn to date.
A H Salah Uddin Ahmad, Head of Insurance Exchange for Bolttech Thailand, says: "We share Max Solution's vision of offering customers convenient digital ways to manage their personal finances. We are proud to help launch a choice of insurance products suited to the various lifestyle needs of Max Card customers. This is an incredibly exciting opportunity to make it easy for customers in Thailand to access the protection they need, in a seamless digital experience with a trusted and familiar brand like Max Card."
Promsak Jaranyagorn, Managing Director of Max Solution, continues: "Max Solution is determined to provide solutions for a new generation of customers that expect digital experiences and easy financial services that meet their needs. As such, we strive to continuously find products, services and experiences that add value to Max Card members and are easily accessible on the Max Me application. Together with Bolttech's technology, we've developed a new insurance purchasing experience at the touch of a fingertip."
