Since 2011, i-surance has been providing powerful mobile insurance products for companies in multiple segments, such as hearing aids, electronics, optics, tires, utilities, cyber risks, furniture industry, and events. Its product Telcoverager.com, is a source of business knowledge for telecom and insurance professionals, which is catered specifically to mobile providers ready to become disruptors in the traditional insurance industry by implementing mobile device insurance as an alternative revenue stream. Over the years, the company maintained exponential growth. With a team of 60 employees, it has gained over 500,000 active contacts in 15 markets.
bolttech, Insurance unicorn and the leading technology-enabled ecosystem for protection and insurance, has acquired the Switzerland based company to leverage its growth. Launched in 2020, botltech’s insurance exchange is the largest in the world, with US$5 billion premium on the platform, providing a gateway to more than 5,000 products and 150 insurance providers. Supported by a team of 1,400 employees, bolttech currently serves more than 7.7 million customers. bolttech recently raised US$180 million, the largest ever series A for an insurtech, valuing the business in excess of US$1 billion.
The acquisition of i-surance extends bolttech’s global footprint from 14 to 26 markets across North America, Asia, and Europe, adding 12 new countries in Europe including Belgium, France, Germany, Liechtenstein, Luxembourg, Monaco, Netherlands, Poland, Portugal, Spain, Switzerland, United Kingdom.
i-surance partners with leading brands across its markets, including telecommunications providers, retailers, and manufacturers, to offer market-leading protection products. The transaction will bring together i-surance’s differentiated product set and geographic footprint with bolttech’s rapidly growing European partnerships, digital native protection and insurance capabilities. The combined entity will continue to drive innovation and enhance speed to market to deliver more value to partners and customers across Europe. bolttech intends to build out its market-leading insurance exchange capabilities in Europe, providing partners and customers with more choice through its B2B2C insurance exchange as it has done in the United States and Asia.
i-surance founder Jens Schädler, will remain with the business. He will continue to apply his deep experience and expertise as part of the team led by Andrew Cons, bolttech’s General Manager for Europe, to realise the full potential of the bolttech and i-surance partnership and capture the extensive opportunities that exist in the region. i-surance and bolttech’s customers and partners will not be impacted by the transfer of ownership and rebranding, and all services and agreements will continue uninterrupted.