Insurtech bolt partners with Ohio Mutual to offer smartphone insurance coverage

bolt, the insurtech with the technology-enabled insurance exchange and a leader in device protection programs, today announced a partnership with Ohio Mutual Insurance Group (Ohio Mutual), the insurance company that has worked with independent agents to distribute property and casualty insurance for more than 100 years.

The partnership embeds bolt’s innovative smartphone protection cover into Ohio Mutual’s all digital D2C purchase journey.

We are constantly striving to delight our members with the latest in innovative tech-based product offerings. We found a like-minded partner in bolt. Through the partnership, our members are now able to purchase their smartphone insurance through the same company they trust for all their insurance needs

Chad Combs, VP of Personal Lines Underwriting, Ohio Mutual Insurance Group

bolt’s device protection solutions are turnkey, simplifying the process for partners like Ohio Mutual Insurance Group to go live with products by leveraging bolt’s filings, 24/7 digital claims portal, and nationwide footprint of quality repair providers.

With no underwriting requirements the product can be seamlessly integrated into Agent or D2C purchase flows.

With coverage for all active smartphones in the household, customers can save hundreds of dollars when they purchase the best value device protection in the market direct from Ohio Mutual

Clayton Bodnarek, Executive Vice President of Alternative Distribution at bolt

BOLT Solutions Inc. is a market-leader in insurtech – from the number of customers that pass through our ecosystem to the value of products we provide on our platform. BOLT is the world’s biggest marketplace for P&C insurance. We bridge the gap between traditional distribution models and the digital age.

Insurtech bolttech announced it raised $196 mn in connection with its Series B with an up-round valuation of $1.6 bn.

New investors including MetLife and Khazanah Nasional alongside existing and new shareholders, join Series B funding round led by Tokio Marine.

The round was led by Tokio Marine – Japan’s first insurance company with a 140-year history. Other key investors include global life insurance giant MetLife through its subsidiary MetLife Next Gen Ventures, Malaysia’s sovereign wealth fund Khazanah Nasional, as well as new and existing shareholders.

Peter Sonner   by Peter Sonner