On this episode of the Scouting For Growth podcast, Sabine VdL talks to Rob Schimek, Group CEO at bolttech, about how bolttech’s connector model is redefining global insurance distribution, from telcos to auto makers and beyond.

They also talk about why the future of protection will depend on trust, data and design more than policy documents and premiums, and what leadership really looks like when you are building at the intersection of revelation, innovation, and human impact. 

KEY TAKEAWAYS

If you have an hour to solve a problem you should spend 55 minutes on the problem and then 5 minutes on the solution. I’ve spent my career in the problem, the formation of bolttech is the attempt at the solution – it’s the path that I’ve chosen to bring that solution to the marketplace.

Our mission is to work out how to close a multi-billion-dollar protection gap that has existed for years, that’s getting bigger? In order to do that we need to really understand the problem. We think there are 4 basic drivers for this multi-billion-dollar protection gap that and they’re pretty irrefutable.

We’re trying to make a seamless connection between the buyers of protection products (insurers) and the distribution partners who have access to the customers so we can put those solutions into the hands of the customers. bolttech’s here to try to provide tailored, affordable, accessible, and convenience insurance in the hands of the customer on a B2B2C basis, connecting big partners who have lots of customers to the insurance providers.

Without the data there’s a tendency to paint everything with one brush, like it’s all the same. Data is accessible and available on a real-time basis today and it can be available with no intervention, straight from the vehicle telematics about the unique driver.

BEST MOMENTS 

‘We really want to connect people with more ways to protect the things that they value, we want to close the global protection gap.’ 

‘The more we make connections frictionless, the more the connection will happen and the more the protection gap will get closed.’‘

If the mission and the vision are super-well-known then nothing can distract you from solving that problem, regardless of what’s going on in the marketplace around you.’‘

If a customer doesn’t trust the use of AI in their interactions with you then AI won’t be successful in that space because it won’t be accepted in that space. Ultimately it comes back to do we do things the right way and give the customers a reason to trust us?’

ABOUT THE GUEST

Rob Schimek is Group Chief Executive Office at bolttech where he leads the team across its operations globally, overseeing its growth and partnership opportunities.

With more than 30 years of experience in the financial services industry, Rob previously held senior leadership roles, including Managing Director & Group Chief Operating Officer for FWD Group, President and Chief Executive Officer of AIG’s commercial insurance businesses worldwide, and Chief Executive Officer of the Americas for AIG. Prior to that, he served as President and Chief Executive Officer of EMEA for AIG, and was the Chief Financial Officer of AIG’s global property and casualty insurance business.

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ABOUT THE HOST

Sabine is a corporate strategist turned entrepreneur. She is the CEO and Managing Partner of Alchemy Crew a venture lab that accelerates the curation, validation, & commercialization of new tech business models. Sabine is renowned within the insurance sector for building some of the most renowned tech startup accelerators around the world working with over 30 corporate insurers, accelerated over 100 startup ventures. Sabine is the co-editor of the bestseller The INSURTECH Book, a top 50 Women in Tech, a FinTech and InsurTech Influencer, an investor & multi-award winner.

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This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/