bolttech partners with Sumitomo Corporation

Sumitomo Corporation has announced an investment in bolttech , a Singapore-based point-of-sale insurance platform operating in 37 countries.

The two companies also announced a joint venture set to launch in the first half of fiscal 2025, to deliver technology-enabled embedded solutions to distribution partners across a number of markets in Asia. The service will offer installment-based device sales and upgrade programs, targeting approximately 10 million customers across Asia by 2030

“We are thrilled to join forces with bolttech, a partner with proven track record in offering technology-enabled solutions to address consumer needs. We are confident that this partnership will enable us to leverage our combined expertise and resources to deliver industry-leading device lifecycle management services, driving growth and innovation across the Asia region.” – Shinichi Kato, Group CEO of Media & Digital Group at Sumitomo Corporation.

“We are delighted to welcome Sumitomo Corporation as our strategic partner. We are confident that Sumitomo Corporation’s expertise in devices and vast network, combined with our distribution capabilities, will drive us forward in creating a better protection experience for consumers in Asia. We are excited to continue our journey in shaping the future of insurance, working towards our vision of connecting people with more ways to protect the things they value.” – Rob Schimek, Group CEO, bolttech.