MoneyHero is set to leverage bolttech’s cutting-edge insurance exchange technology to power its newly launched car insurance platform and enhance the consumer experience across Greater Southeast Asia.
The collaboration integrates bolttech’s advanced insurance exchange technology into the MoneyHero platform, enhancing its car insurance marketplace.
The platform has launched in Hong Kong, with expansion to Singapore and the Philippines scheduled for 2024 and 2025.
This partnership aims to elevate MoneyHero’s position as a regional digital insurance leader by offering consumers more options and a seamless insurance purchasing experience.
The integration of bolttech’s technology allows MoneyHero to provide users with better insights and smoother transactions when comparing and buying car insurance, setting a new benchmark in the industry.
The partnership offers several advantages. MoneyHero’s new platform provides comprehensive comparison tools, accurate pricing, and a streamlined user journey. By integrating bolttech’s insurance exchange technology, consumers can access a broader selection of car insurance options, with an emphasis on simplicity and transparency.
Additionally, this partnership plays a crucial role in MoneyHero’s strategic growth. In 2023, its insurance vertical contributed 7% to the company’s total revenue, with year-over-year growth reaching 89% in Q2 2024, contributing to 11% of Group revenues in the same period.
This new platform is expected to drive further growth by capitalising on the rising demand for digital insurance in Southeast Asia.
Rohith Murthy, CEO of MoneyHero, said, “This launch marks a significant milestone for MoneyHero as we expand our car insurance offerings and enhance our capabilities as a leading digital insurance brokerage. By partnering with bolttech, we are not only elevating the user experience but also taking full ownership of the entire car insurance purchase journey—from comparison to conversion—within our ecosystem.”
Philip Weiner, CEO – Asia & Middle East, bolttech, added, “We are thrilled to partner with MoneyHero to create an enhanced customer experience for car insurance across Southeast Asia. By digitally integrating with our insurance exchange platform, we are empowering MoneyHero to offer a seamless and transparent user experience.”
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