This collaboration integrates bolttech’s advanced insurance exchange technology into MoneyHero’s platform, revolutionising the consumer car insurance experience. The enhanced marketplace is now live in Hong Kong, with expansions planned for Singapore by Q4 2024 and the Philippines by Q1 2025.
The partnership strengthens MoneyHero’s position as a digital insurance leader by combining its expertise in financial product comparison with bolttech’s innovative insurance technology. The new platform offers consumers better insights, a wider range of options, and a seamless end-to-end purchase process, setting a new standard in the car insurance industry.
“This launch marks a significant milestone for MoneyHero as we expand our car insurance offerings,” said Rohith Murthy, CEO of MoneyHero. “By partnering with bolttech, we are elevating the user experience and taking full ownership of the car insurance purchase journey—from comparison to conversion—within our ecosystem.”
MoneyHero’s platform, powered by bolttech’s insurance exchange technology, enhances user experience with comprehensive comparison tools, accurate pricing, and a streamlined process. This allows consumers to make more informed and confident decisions about their car insurance.
Philip Weiner, CEO of bolttech Asia & Middle East, emphasised the partnership’s potential: “By digitally integrating with our platform, MoneyHero offers a transparent and seamless car insurance experience, giving customers greater control in their insurance decisions.”
With over 230 insurers and 6,000 products globally, bolttech’s expertise will provide MoneyHero customers access to a wide range of insurance options tailored to their needs.
MoneyHero’s insurance division has been a major growth driver, contributing 7% to total revenue in 2023, with an 89% year-over-year growth in Q2 2024. The new car insurance platform is expected to accelerate this growth by tapping into the increasing demand for digital insurance solutions in Southeast Asia.
“Our integrated approach to brokerage and this partnership positions us to capture a larger share of the car insurance market,” added Murthy, highlighting the importance of insurance as a key contributor to the company’s overall financial platform.
