Ep151 Rob Schimek Group CEO bolttech: Cooperate to graduate
Todays’ guest is from Insurtech royalty. He’s part of a select club of executives running youthful insurance businesses with valuations exceeding a billion dollars.
Bolttech and its Group CEO Rob Schimek have been in a hurry, building technology and a licensed ecosystem that is connecting large companies and their customers, brokers and other intermediaries, carriers and thousands of their insurance products in 30 markets across three continents.
It’s done this from a standing start in only 2020 and today billions of dollars of premiums are quoted through the fluid connections that the business facilitates.
I’ve been around insurance and technology long enough to know that getting this kind of traction this quickly is something special and that is why I wanted to get Rob on the show.
In the last two decades insurance investment graveyards have been filled with big bold ideas like this and I wanted to get to the heart of what Bolttech is trying to do differently.
It turns out that far from disruption the firm’s approach is to bring collaboration and flexibility to everything it does. It is also incredibly focused on the hard and unglamorous technical yards of Insurance that many more naïve insurtechs make the mistake of overlooking.
Dealing seamlessly with the complex regulatory aspect of distributing thousands of products in different markets, perhaps through unlicensed entities, is an enormous challenge that this business takes just as seriously as the tech side of things.
With a very senior insurance career already under his belt Rob really is one of us.
So listen on for an idea of what the future of general insurance distribution is going to look like.
And if you were ever dying to learn what all the fuss surrounding embedded insurance is really all about, then you have absolutely come to the right place!
NOTES
A couple of abbreviations smuggled themselves in:
OEM = Original Equipment Manufacturer – eg. Samsung for mobile phones.
API = Application Programming Interface – ie a way of connecting up different computer systems
LINKS
We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/
And our advertiser Bolton Associates:
https://www.bolton-associates.co.uk/
