Digital insurance coverage dealer MoneyHero has entered right into a partnership with insurtech firm bolttech to launch a automobile insurance coverage platform.
The collaboration goals to reinforce the patron expertise by integrating bolttech’s insurance coverage alternate know-how with the MoneyHero platform.
MoneyHero operates throughout Singapore, Hong Kong, Taiwan and the Philippines.
The platform is already reside in Hong Kong, with future expansions scheduled for Singapore by the fourth quarter of 2024 (This autumn 2024) and the Philippines by the top of Q1 2025.
This improvement is predicted to fortify MoneyHero’s standing as a digital insurance coverage chief within the area.
The partnership combines MoneyHero’s experience in monetary product comparability and conversion optimisation with bolttech’s insurance coverage capabilities.
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The improved automobile insurance coverage market is designed to empower shoppers with improved insights, a wider vary of choices, and a extra seamless buy expertise.
MoneyHero’s insurance coverage unit has been instrumental in driving the corporate’s development, contributing 7% to complete income in 2023.
The vertical has seen an 89% year-on-year improve in Q2 2024, accounting for 11% of group revenues throughout the identical interval.
The launch of the brand new automobile insurance coverage platform is predicted to considerably enhance this development trajectory.
MoneyHero CEO Rohith Murthy mentioned: “This launch marks a major milestone for MoneyHero as we broaden our automobile insurance coverage choices and improve our capabilities as a number one digital insurance coverage brokerage.
“With bolttech’s experience, we’re providing an unmatched stage of perception and ease that can reshape how shoppers select their automobile insurance coverage. This partnership strengthens our place as a market chief, and collectively, we’re setting the stage for the way forward for digital insurance coverage.”
bolttech CEO of Asia & Center East Philip Weiner mentioned: “We’re thrilled to companion with MoneyHero to create an enhanced buyer expertise for automobile insurance coverage throughout South East Asia.
“By digitally integrating with our insurance coverage alternate platform, we’re empowering MoneyHero to supply a seamless and clear person expertise, giving prospects larger management and readability of their automobile insurance coverage choices.”
In March this yr, bolttech expanded operations within the Center East via a partnership with stc Group.
