Strategic partnerships, embedded channels, and AI: how bolttech is redefining insurance distribution
At the recent InsureTech Connect (ITC) conference in Las Vegas, bolttech Group CEO Rob Schimek shared his perspective on how strategic partnerships, embedded insurance, and artificial intelligence are transforming the global insurance landscape. Speaking with Laura Chordas of AM Best TV, Schimek discussed how bolttech’s business model is built on partnerships and data-driven innovation to close the world’s multi-trillion-dollar protection gap.
Partnerships at the core of bolttech’s business model
According to Schimek, strategic partnerships are fundamental to how bolttech operates and scales. “The bolttech business model focuses on embedded insurance, and it’s very much a B2B2C model,” he explained. “The only way for this business model to work is through ecosystem partners.”
In practice, that means collaborating with carriers that provide insurance products and distribution partners that offer access to customers. These partnerships are not limited to traditional insurance players. Increasingly, bolttech works with organisations that have never offered insurance before, such as telecom operators, e-commerce platforms, and consumer brands, helping them deliver relevant protection at the point of need.
By combining carriers’ product expertise with partners’ customer reach, bolttech enables insurance to be delivered directly within everyday experiences, from purchasing a smartphone to booking a trip. This approach, Schimek noted, is key to addressing the world’s vast protection gap.
Embedded insurance: meeting customers where they are
As insurance becomes more deeply integrated into everyday products and services, embedded insurance is changing how coverage is offered and consumed. Schimek described bolttech’s approach as delivering protection “at the exact point when customers need it, where they need it, and how they need it.”
That means using data and technology to provide tailored, affordable, accessible, and convenient experiences. For customers, it translates into hyper-personalised coverage offered in real time – often within the same digital journey where they make their purchase.
This model benefits not only consumers but also carriers and partners, driving growth through new distribution channels. Schimek observed that traditional models, while effective, have left significant segments of the population underinsured. “If we try to solve the same problem in the same way, we’ll get the same result,” he said. “We’re doing different things, new things, in new ways.”
AI as a catalyst for efficiency and empowerment
Artificial intelligence is another critical driver of change. Schimek highlighted how AI is enabling- not replacing – agents and insurers across the insurance value chain. “If an agent can save half of their time through AI-powered tools, that’s time they can reinvest in serving customers and growing their business,” he said.
From underwriting to claims and customer servicing, AI helps streamline operations, reduce costs, and enhance decision-making. At ITC Vegas, bolttech announced its new AI for Agents initiative, a conversational and workflow automation tool designed to make it faster and easier for agents to quote, bind, and service policies.
For Schimek, AI represents the next major leap in how insurance will be distributed and managed: “AI is at every step of the value chain – from the first customer call to post-sale servicing. It’s going to be the key to change in this industry.”
Toward a more connected, inclusive future
As insurance becomes increasingly digital and data-driven, bolttech’s approach underscores the importance of collaboration. By combining the reach of its distribution partners, the product capabilities of its carrier partners, and the intelligence of its technology, the company is redefining how protection is accessed worldwide.
For Schimek, the vision is clear: “The opportunity lies in creating tailored coverages based on data-driven insights so customers receive the right product, at the right time, in the right way.” Through its embedded insurance platform and expanding global ecosystem, bolttech continues to build a future where protection is not an afterthought but an integrated, seamless part of everyday life.
Watch the original interview on AM Best TV: https://www.ambest.com/video/video.aspx?s=1&rc=schimeck1025
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