Leading B2B2C insurance provider, Allianz Partners, joins forces with global insurtech giant, bolttech, to introduce advanced device and appliance insurance in the Asia Pacific and the US.

This strategic alliance leverages the unique strengths of both companies, aiming to seamlessly integrate insurance offerings during customer interactions.

This collaboration will offer integrated solutions for businesses like e-commerce platforms, telecom providers, banks, insurers, and OEMs.

The goal? Simplifying the process for consumers to secure protection for various household items, from digital gadgets to home appliances.

With Allianz Partners’ global reach and bolttech’s tech prowess, this partnership promises a wider array of services.

Allianz brings its vast market presence, underwriting skills, and diverse insurance offerings. In contrast, bolttech contributes its technological and service capabilities, ensuring a blend of digital and traditional customer experiences.

The need for such protection is evident. Despite a global insurance penetration of just 7% of GDP, the demand for device and appliance insurance is skyrocketing.

The market for extended warranties and accidental damage coverage for electronics and appliances is projected to surge from US$160 billion to over US$210 billion in the next four years.

Tomas Kunzmann, CEO of Allianz Partners, expresses his enthusiasm about the venture, emphasizing the combined strengths of both companies in redefining device protection insurance. Rob Schimek, Group CEO of bolttech, echoes this sentiment, highlighting the potential of this expanded collaboration.