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bolttech: Embedding insurance ecosystems into non-insurance market innovators

bolttech
Singapore
Insurtech 2021

Elevator pitch

Leveraging the bolttech platform, we enabled LINE, Thailand’s super app, to provide over 10 insurance products from more than 20 insurance carriers via a single integration – all of which took just three months. This case study speaks to the power of not just forging new partnerships but enabling those partnerships to evolve. Because in just one year we’ve gone from pitch to profit (over US$1 million to be precise) by bootstrapping our own insurance ecosystem into the ecosystem of one of Thailand’s biggest super apps. This partnership has already spawned a new and evolved business model (set to launch Q2 2021) and clearly demonstrates that everyone can diversify their business model – non-insurers can sell insurance, and insurers can integrate products vertically elsewhere and in doing so, diversify into new and alterative distribution channels. Watch our case study video here: https://vimeo.com/531686921 (password: bolttech!)

Innovation Presentation

We’re bolttech, a digital-first insurer with three key capabilities: digital insurance, a range of device protection products, and our hyper-connected insurance exchange which forms an ecosystem of its own. Now meet LINE, Thailand’s super app, first launched in 2015, and currently used by over 47 million Thais. LINE focuses on bundling multiple B2C services into its award-winning app - including Rabbit LINE Pay, an e-wallet launched in 2018. In January 2020 we integrated our ecosystem of insurance products into Rabbit LINE Pay, creating an exclusive, co-branded partnership. For us, this is about offering insurance in new and alternative distribution channels. For our partners, it’s about creating more choice and expanding the customer offer…

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