Bolttech Raises 147M to Expand Embedded Insurance Globally

In today’s digital economy, timing is everything—especially for companies selling ancillary products like insurance. The key challenge is presenting the right offer at the exact moment customers are ready to add value to their purchase. This is where embedded insurance shines, seamlessly integrating protection products into the buying journey to capture that crucial upsell opportunity.

Singapore-based Bolttech has emerged as a leader in this space by acting as the connective tissue between insurers, distributors, and customers. Founded in 2020 by Eric Gewirtzman and insurance veteran Rob Schimek, Bolttech specializes in embedded insurance with a B2B2C model that has rapidly gained traction worldwide.

Recently, Bolttech closed a $147 million Series C funding round at a $2.1 billion valuation, led by Dragon Fund and joined by investors like Baillie Gifford, Generali, Sumitomo Corporation, and Iberis Capital. This fresh capital will fuel expansion into Africa and North America, enhance R&D efforts, and advance insurance technology, particularly in data analytics and artificial intelligence.

Bolttech’s platform currently connects approximately 700 distribution partners with over 230 insurers, offering more than 6,500 products globally. While the number of partners has remained stable since their Series B round, the company’s total annualized premiums have surged to around $60 billion, up from $55 billion just months earlier.

One notable development is Bolttech’s joint venture with Japanese conglomerate Sumitomo to deliver embedded insurance and comprehensive end-to-end services across Asia. This partnership exemplifies how collaboration can accelerate market penetration and improve customer access to protection products.

The embedded insurance market is growing rapidly, driven by changing consumer habits and the shift to online shopping. Bolttech competes with traditional insurers, tech-focused startups, and in-house solutions, but embraces a philosophy of “coopetition” — collaborative competition — to expand insurance access globally.

Major insurers like Tokio Marine and MetLife back Bolttech, and the company partners with global brands including Allianz, Apple, AXA, Liberty Mutual, Orange, Progressive, Lazada, Samsung, and Home Credit. These relationships underscore the trust and scale Bolttech has achieved in the embedded insurance ecosystem.

Looking ahead, Bolttech’s focus on AI and data analytics will be critical to refining risk assessment, personalizing offers, and optimizing the customer journey. As embedded insurance becomes a standard part of online commerce, companies like Bolttech are poised to transform how protection products are bought and sold worldwide.