Rob Schimek - Bolttech - ITC DIA Europe

Why It Matters

Bolttech’s scalable embedded‑insurance and exchange platform could reshape how consumers buy protection, unlocking a multi‑trillion‑dollar market while positioning the firm for profitable growth.

Key Takeaways

• bolttech operates in 31 markets across three continents
• Embedded insurance platform drives $60B premium volume in four years
• Device protection replaces phones instantly, boosting customer satisfaction
• Insurance exchange offers real‑time quotes and multi‑carrier choice via APIs
• Recent $196M Series B funds EBITDA path and strategic acquisitions

Summary

At the ITC DIA Europe event, bolttech CEO Rob Schimek outlined the company’s rapid rise as a global insurtech, highlighting its presence in 31 markets across North America, Europe and Asia and its recent $196 million Series B round.

Schimek explained that bolttech’s core is a dual‑track platform: a leading embedded‑insurance engine that sold roughly $60 billion of premium in just four years, and a technology‑driven insurance exchange that matches carriers and distributors via APIs, delivering up to 28 homeowner quotes per minute.

He illustrated the model with the “hero product” – device protection that replaces a lost or broken phone within hours – and cited a partnership with Progressive that bundles auto and home policies using bolttech’s recommendation engine, showcasing real‑time choice for consumers.

The discussion underscored the broader $5 trillion embedded‑insurance opportunity over the next decade and bolttech’s strategy to reach EBITDA positivity, leverage Singapore’s fintech‑friendly ecosystem, and pursue selective acquisitions to cement its market‑leading position.

Original Description

Discover the Phenomenal Rise of bolttech: In this exclusive interview at the MAPFRE Booth at ITC DIA Europe, CEO Rob Schimek shares bolttech's strategic approach, how it drove their impressive $200 million funding and $1.6 billion valuation. Learn how their technology-enabled marketplace empowers a new form of insurance distribution and their vision for shaping the future of the insurance industry through innovative collaborations.

From Embedded Insurance to leaving the industry wondering if it will ever be the same again, when it comes to insurance, bolts of inspiration can strike at any moment - make sure to watch them first on this video.