Indonesian insurance coverage middleman Axle Asia has been renamed PT Bolttech Insurance coverage Dealer and rebranded to bolttech, following the acquisition by insurtech firm bolttech.
The Monetary Providers Authority of Indonesia, Otoritas Jasa Keuangan, has accepted the title change, aligning with the nation’s goal to foster the expansion of the insurtech trade.
Based in 2008 and primarily based in Jakarta, the insurance coverage middleman specialises in serving a broad spectrum of purchasers, providing company traces and worker advantages insurance coverage.
Singapore-headquartered bolttech acquired a majority stake in Axle Asia in October 2022.
The insurtech stated the rebranding and renaming strengthen its providing within the Indonesian market because it retains rising its portfolio of company and shopper insurance coverage options.
It is not going to have an effect on bolttech Indonesia’s present companies or agreements with companions and clients, guaranteeing continuity of their choices.
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PT Bolttech Insurance coverage Dealer president director Srinath Narasimhan stated: “Now we have an thrilling alternative forward of us to leverage bolttech’s worldwide insurtech capabilities to attach extra folks with methods to guard the issues they worth whereas enabling the insurance coverage trade in Indonesia to thrive. We look ahead to a fruitful journey forward working alongside our valued companions to serve the wants of extra clients collectively”.
Final month, bolttech expanded into the Center East by a partnership with stc Group, a telecommunications firm.
Collectively, they plan to ship embedded system safety options and take into account extending their collaboration to incorporate Web of Issues-enabled companies for numerous digital life-style elements together with residence home equipment, well being electronics and cyber property.
In February, Bolttech Insurance coverage, the Hong Kong subsidiary of bolttech, unveiled a brand new journey insurance coverage product named MyTravel.
This two-tiered journey insurance coverage is on the market completely by FWD’s on-line insurance coverage platform, marking one other milestone in bolttech’s increasing suite of insurance coverage options.
