Insurtech unicorn bolttech acquires i-surance
The insurance technology firm bolttech, part of Pacific Century Group based in Hong Kong, has announced it has acquired i-surance, a Business-to-Business-to-Customer (B2B2C) digital insurance platform based in Europe.
As part of its expansion strategy, bolttech’s i-surance transaction comes after its insurtech series A funding round, giving the company its unicorn status. We are excited to welcome the i-surance team to the bolttech family,” said bolttech’s CEO Rob Schimek. “We have an aligned vision to connect people with more ways to protect the things they value, and we will build upon bolttech and i-surance’s strong foundations in Europe to accelerate our growth across the region. I look forward to seeing the powerful combination of our people, product and digital capabilities deliver even more value for our business partners and customers.”
i-surance is a firm that partners with several companies such as telecommunications providers, retailers and manufacturers to offer protection products to their customers.
Growing Bolttech’s carbon footprint
The acquisition also aims to grow the company’s global footprint, rising from 14 to 26 markets in North America, Europe, and Asia. The current European markets include Belgium, France, Germany, Liechtenstein, Luxembourg, Monaco, Netherlands, Poland, Portugal, Spain, and Switzerland.
Led by Andrew Cons, General Manager for bolttech Europe, the new business will see Dr. Jens Schadler, Founder of i-surance, remain in the company. “As the market leader in several European countries for mobile device protection and hearing insurance, we’re delighted to be joining such an ambitious and innovative business as bolttech,” said Schädler. “As part of the bolttech family, we are now able to provide our partners with global solutions.”