MoneyHero, bolttech new car insurance platform to expand in two markets

MoneyHero’s insurance segment accounts for 7% of total revenue in 2023.

MoneyHero launched a new car insurance platform in partnership with insurtech company bolttech. 

The platform, now live in Hong Kong, will expand to Singapore by the fourth quarter (Q4 2024) of this year and the Philippines by Q1 2025. 

This collaboration integrates bolttech’s insurance exchange technology into MoneyHero’s platform.

MoneyHero CEO Rohith Murthy said the partnership strengthens the company's digital insurance offering, giving consumers full control over the car insurance purchase process, from comparison to conversion. 

MoneyHero’s insurance segment accounts for 7% of total revenue in 2023. 

In Q2 2024, the insurance vertical grew by 89% year-over-year, contributing 11% of group revenues. The recent launch of its car insurance platform is expected to further accelerate this growth by tapping into the rising demand for digital insurance solutions across Greater Southeast Asia.