Bolttech has bought mTek, a digital insurance platform from Kenya. This helps Bolttech grow its business in East Africa and strengthens its global embedded insurance services.
mTek, started in 2019, allows people in Kenya to compare, buy and manage insurance easily through an online app.
The company partners with major insurers like GA Insurance, Sanlam and Britam. In September, it also teamed up with Mastercard to bring embedded insurance products to more people across East Africa.
mTek’s platform focuses on making insurance more accessible by offering a simple, clear and paper-free experience.
Bolttech said it will combine mTek’s technology and local expertise with its own global insurance ecosystem. This acquisition supports Bolttech’s plan to expand further in East Africa and strengthen its embedded insurance services around the world.
mTek’s leadership team, led by CEO Bente Krogmann, will continue running operations in East Africa. This is meant to ensure stability for customers, partners and employees during the transition.
The company will switch to Bolttech branding later on. Both Bolttech and mTek stated that they will work closely to ensure a smooth transition and uninterrupted service for employees, customers and partners.
Stephan Tan, Chief Executive Officer, EMEA, bolttech said,“This represents an exciting step forward for bolttech as we expand our footprint in Africa. mTek’s innovative platform and talented team share our vision of using technology to make protection more accessible.
Together, we can accelerate digital transformation in insurance and extend the reach of embedded protection across the region.”
Bente Krogmann, Chief Executive Officer, mTek, said,“Joining the bolttech family marks an exciting next chapter for mTek.
Our technology, local insight, and commitment to inclusive insurance have transformed how customers access protection in Kenya, and this partnership allows us to scale that impact even further – bringing more innovative and relevant insurance solutions to customers at scale.”
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