Ep151 Rob Schimek Group CEO bolttech: Cooperate to graduate

Todays’ guest is from Insurtech royalty. He’s part of a select
club of executives running youthful insurance businesses with
valuations exceeding a billion dollars.  Bolttech and its
Group CEO Rob Schimek have been in a hurry, building technology
and a licensed ecosystem that is connecting large companies and
their customers, brokers and other intermediaries, carriers and
thousands of their insurance products in 30 markets across three
continents. It’s done this from a standing start in only 2020 and
today billions of dollars of premiums are quoted through the
fluid connections that the business facilitates. I’ve been around
insurance and technology long enough to know that getting this
kind of traction this quickly is something special and that is
why I wanted to get Rob on the show. In the last two decades
insurance investment graveyards have been filled with big bold
ideas like this and I wanted to get to the heart of what Bolttech
is trying to do differently. It turns out that far from
disruption the firm’s approach is to bring collaboration and
flexibility to everything it does. It is also incredibly focused
on the hard and unglamorous technical yards of Insurance that
many more naïve insurtechs make the mistake of overlooking.
Dealing seamlessly with the complex regulatory aspect of
distributing thousands of products in different markets, perhaps
through unlicensed entities, is an enormous challenge that this
business takes just as seriously as the tech side of things. With
a very senior insurance career already under his belt Rob really
is one of us. So listen on for an idea of what the future of
general insurance distribution is going to look like. And if you
were ever dying to learn what all the fuss surrounding embedded
insurance is really all about, then you have absolutely come to
the right place! NOTES A couple of abbreviations smuggled
themselves in: OEM = Original Equipment Manufacturer - eg.
Samsung for mobile phones. API = Application Programming
Interface – ie a way of connecting up different computer systems
LINKS We thank our naming sponsor AdvantageGo:
https://www.advantagego.com/ And our advertiser Bolton
Associates: https://www.bolton-associates.co.uk/