bolttech has accomplished the acquisition of AVA Insurance coverage Brokers and AVA Insurance coverage Company, a Singapore-based specialist dealer and insurance coverage middleman. The acquisition follows bolttech’s completion of its US$247 million Series A funding round final yr.
The acquisition of AVA will speed up the deployment of bolttech’s insurance coverage alternate in Singapore, connecting insurers, distributors and prospects, making it simpler and extra environment friendly to purchase and promote insurance coverage. Headquartered in Singapore, bolttech has grown its world footprint to 30 markets since its inception in 2020 as a part of its worldwide enlargement technique.
“We’re delighted to welcome AVA to our rising workforce. Singapore has served as our house base and a vital springboard for our world enlargement since we launched in early 2020,” commented Rob Schimek, group chief government officer, bolttech.
“We are going to proceed to spend money on Singapore, each as a global hub for innovation and as a market that presents bolttech with important alternative to reinforce the insurance coverage expertise for native prospects and companions,” he added.
“That is an thrilling and far anticipated milestone for the AVA workforce. Along with bolttech, we’ll considerably improve our means to carry new, progressive options to prospects in Singapore and the better area by way of bolttech’s pioneering insurtech capabilities,” mentioned Michael Chew, chief government officer, AVA.
Yen Yen Koh, basic supervisor for bolttech in Singapore, will oversee AVA’s operations, which will likely be built-in with bolttech and subsequently rebranded later this yr. The change in possession has no affect on AVA’s service to its companions or prospects, and the present AVA workforce stays intact publish integration.
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