bolttech Group CEO Bob Schimek
UK-based digital insurance advisory Sherpa said today it has received an undisclosed sum in strategic investment from Singapore- and US-based insurtech unicorn bolttech.
It is part of a collaboration to expand the international presence of Sherpa’s digital insurance and protection advisory tool, Sherpa Score.
Sherpa Score is a data-driven advisory platform that provides consumers with a customised visualisation of their insurance and protection gaps to inform their decision making. Businesses selling insurance can integrate the platform into their channels to drive increased engagement and understanding for a better experience for their customers.
The Sherpa Score platform will expand further into Asia and the US.
Also Read: iPhone co-inventor-backed insurtech unicorn bolttech adds US$30M to Series A
Sherpa CEO Chris Kaye said: “Combining Sherpa Score’s AI-driven technology with the reach of bolttech’s insurance exchange will enable us to integrate customer education and awareness into insurance purchasing journeys seamlessly. This will equip more customers with the insights and information to make better insurance decisions.”
Rob Schimek, bolttech’s Group CEO, added: “Our strategic investment in Sherpa will deepen our collaboration to enhance customers’ experience and drive engagement within our tech-enabled insurance exchange. By integrating Sherpa Score’s personalised insights into bolttech’s ecosystem of products and services, customers will better understand their protection needs and have the access and choice of relevant insurance products to meet those needs.”
Launched in 2020, bolttech aims to make connections between insurers, distributors and customers easier and more efficient to buy and sell insurance and protection products. It works with insurers, telcos, retailers, banks, e-commerce and digital destinations to embed insurance into their customer journeys at the point of need.
Also Read: bolttech adds BRV Capital Management as strategic investor to support international growth plan
Last December, bolttech added BRV Capital Management as a strategic investor in the company. This followed a US$30 million investment towards its US$180-million round from EDBI and Spanish firm Alma Mundi.
bolttech’s other backers are Tony Fadell (Principal at Future Shape, inventor of iPod, and co-inventor of iPhone), Alpha Leonis Partners, Dowling Capital Partners, B. Riley Venture Capital, and Tarsadia Investments.
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