Insurtech unicorn bolttech acquires AVA Insurance
bolttech General Manager Yen Yen Koh to oversee AVA’s operations.
Insurtech firm, bolttech, has announced that its acquisition of AVA Insurance Brokers and AVA Insurance Agency (AVA), a Singapore-based insurance intermediary and specialist broker, has been completed.
The acquisition follows bolttech’s completion of its $247m Series A last year, which propelled the insurtech firm to unicorn status.
Also read: Insurtech bolttech completes $180m series A funding, hits unicorn status
The acquisition of AVA will accelerate the deployment of bolttech’s insurance exchange in Singapore, connecting insurers, distributors and customers, making it easier and more efficient to buy and sell insurance.
Yen Yen Koh, general manager for bolttech in Singapore, will oversee AVA’s operations, which will be integrated with bolttech and subsequently rebranded later this year.
“We are delighted to welcome AVA to our growing team. Singapore has served as our home base and a crucial springboard for our global expansion since we launched in early 2020. We will continue to invest in Singapore, both as an international hub for innovation and as a market that presents bolttech with a significant opportunity to enhance the insurance experience for local customers and partners,” bolttech chief executive officer, Rob Schimek, said.
Based in Singapore, bolttech has grown its global footprint to 30 markets since its inception in 2020.
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