bolttech has acquired Kenya-based digital insurance coverage platform mTek, strengthening its presence in East Africa and increasing its international embedded insurance coverage capabilities.
Based in 2019, mTek gives a digital platform that lets prospects in Kenya evaluate, buy and handle insurance coverage on-line.
The corporate works with GA Insurance coverage, Sanlam and Britam, and in September introduced a collaboration with Mastercard to introduce embedded insurance coverage options throughout East Africa.
Its platform is designed to enhance entry to insurance coverage by way of easy, clear and paperless experiences.
bolttech mentioned it would combine mTek’s know-how and native market experience into its international insurance coverage and safety ecosystem.
The acquisition helps bolttech’s technique to develop its footprint in East Africa and improve its embedded insurance coverage capabilities worldwide.
mTek’s management group, led by chief government Bente Krogmann, will proceed to supervise operations in East Africa to offer stability for purchasers, companions and staff in the course of the transition.
The corporate will undertake bolttech branding at a later stage.
bolttech and mTek mentioned they may work collectively to make sure continuity for workers, prospects and companions all through the combination.
Stephan Tan, Chief Government Officer, EMEA, bolttech mentioned,
“This represents an thrilling step ahead for bolttech as we broaden our footprint in Africa. mTek’s modern platform and proficient group share our imaginative and prescient of utilizing know-how to make safety extra accessible.
Collectively, we are able to speed up digital transformation in insurance coverage and prolong the attain of embedded safety throughout the area.”
Bente Krogmann, Chief Government Officer, mTek, mentioned,
“Becoming a member of the bolttech household marks an thrilling subsequent chapter for mTek.
Our know-how, native perception, and dedication to inclusive insurance coverage have remodeled how prospects entry safety in Kenya, and this partnership permits us to scale that affect even additional – bringing extra modern and related insurance coverage options to prospects at scale.”
Featured picture: Edited by Fintech Information Singapore, primarily based on picture by tsyhun through Freepik
