Key facts
- Capital: The bolttech Series C closed on 4 June 2025 with US$147m of shares acquired by Series C investors, at a company valuation of US$2.1bn.
- Capital: Sumitomo Corporation and Iberis Capital joined Dragon Funds, Baillie Gifford and Generali's Lion River in the round, and Sumitomo also formed an embedded insurance joint venture with bolttech for Asia.
- Ownership: The group owns bolt Inc., its North American insurance distribution business.
- Timeline: On 11 June 2026 ING selected bolttech as a strategic partner for insurance and protection products as it scales embedded insurance across Europe.
- Leadership: Rob Schimek is group chief executive.
Focus areas
About
bolttech is a Singapore-headquartered insurtech launched in 2020 that runs a technology platform for protection and embedded insurance. It connects insurers with distribution partners such as banks and telecoms operators, and supplies device protection, B2B2C insurance products and a repair, remediation and logistics servicing network. bolttech operates in 39 markets across Asia, Europe, North America and Africa, and owns bolt Inc. in North America. Its Series C closed in June 2025 at a US$2.1bn valuation, with Sumitomo Corporation joining as investor and joint-venture partner.
How they use AI
bolttech already has hundreds of agentic AI agents in action across the business, built on major cloud platforms, and expects every role to gain an AI co-pilot. Group Chief Technology and Operations Officer David Lynch points to smaller specialised models trained on insurance data as a faster, cheaper route to enterprise AI, and to conversational interfaces that let customers discover and buy insurance in real time.
Products and services
- Embedded insurance platform — Platform for partners to run insurance programmes and launch new protection business models
- B2B2C protection platform — Protection and insurance products sold through partners' customer journeys
- Device protection — Protection, extended warranty and lifecycle programmes for phones and lifestyle gadgets, sold through telecoms operators
- Servicing ecosystem — Repair, remediation and logistics network of partners and service providers
Key people
- Rob Schimek — Group Chief Executive Officer
- Stephan Tan — Chief Executive Officer, EMEA
- David Lynch — Group Chief Technology & Operations Officer
Investors
- Sumitomo Corporation
- Iberis Capital
- Dragon Funds
- Baillie Gifford
- Generali's Lion River
