Bolttech and Sumitomo to launch JV to protect the device in Asia

Insurtech Bolttech, which is based in Singapore, has cooperated with the Japanese company Sumitomo Corporation to form a joint venture (JV) to protect devices in Asia.

JV will provide guaranteed solutions that support technology to distribution partners across Asia, focusing on device life cycle management services including devices.

The partnership will start with the device’s upgrade program in Southeast Asia using the Bolttech Distribution Network and SMITOMO financing experience.

“We are happy to join Bolttech, a partner with a busy record in providing solutions that support technology to meet the needs of consumer,” said Shinichi Kato, CEO of Sumitomo Corporation Media & Digital Group.

“We are confident that this partnership will enable us to benefit from our joint experiences and resources to provide the services of the leading devices life cycle management services in the industry, and to push growth and innovation throughout the Asia region.”

This initiative aims to enhance distribution partners’ offers, and enable them to provide “comprehensive solutions” to their customers.

“We are pleased to welcome Sumitomo Corporation as our strategic technician. We are confident that the experience of Sumitomo Corporation in the wide devices and network, along with our distribution capabilities, will push us forward in creating a better protection experience for consumers in Asia.

“We are excited to continue our journey to form the future of insurance, and work to see us to link people to more ways to protect the things they appreciate.”

Bolttech operates in 37 markets, providing a range of digital capabilities based on data that links insurance companies, distributors and customers.

In December 2024, the company launched Series Financing round C.Led by Dragon Fund, by liquidity and MUFG, Bolttech rating at $ 2.1 billion ($ 2.72 billion Singapore).

“Bolttech and Sumitomo to launch JV to protect the device in Asia” was originally created and published International Life InsuranceThe brand owned by Globaldata.

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