Allianz, bolttech partner on embedded insurance in Asia & US
Allianz Partners has entered into a strategic partnership with fast-growing insurtech bolttech to provide embedded device and appliance protection insurance across Asia Pacific and the US.
The collaboration aims to address the growing customer demand for embedded insurance solutions for device and appliance protection.
The cooperation between Allianz Partners and bolttech will deliver embedded solutions for business partners such as retailers and e-tailers for electronic products and household devices, telecommunication providers, banks, insurers, and original equipment manufacturers (OEMs).
Allianz Partners brings its worldwide presence to the cooperation. This includes a strong market footprint across APAC and the US, along with the capacity to support the growth of the business, as well as underwriting expertise and servicing capabilities in appliance protection and a range of other insurance products including travel, mobility, cyber and home insurance, among others.
Tomas Kunzmann, CEO of Allianz Partners, said: "We are thrilled to collaborate with bolttech around the rapidly growing business segment of appliance and device protection in Asia-Pacific and the US. As a global leader in assistance and insurance services, we will leverage our strong market presence and wide range of product offerings to co-create new solutions that protect consumers' financial investments and deliver peace of mind. bolttech is an insurtech with a proven track-record in technological innovation, and our partnership will allow us to jointly create a seamless and unique setup for growth in the area of mobile device protection. We look forward to working closely together to re-imagine the future of device protection insurance."
Rob Schimek (pictured), group chief executive officer of bolttech, said: "What makes this partnership so exciting is the tremendous opportunity to collaborate with Allianz, one of the world's leading insurers, to reduce risk for customers in their daily lives and increase financial inclusion in the digital age. We are already working with Allianz Partners on a number of exciting opportunities, such as embedding device protection for customers of a leading electronics brand in Thailand. We can't wait to uncover the possibilities of this extended partnership."
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