AXA Partners, a subsidiary of the AXA Group, and global insurtech bolttech have announced a long-term strategic partnership aimed at expanding embedded insurance and assistance solutions across the European Union, the UK, and Switzerland.
The collaboration will combine AXA Partners’ portfolio of B2B2C insurance and assistance services - including motor, home, travel, health, credit and lifestyle protection - with bolttech’s end-to-end insurance and technology solutions, including device protection.
According to a news release, the partnership seeks to create new commercial opportunities for business partners by enhancing upsell and cross-sell potential. Both companies will focus on developing strategic relationships with carriers, managing general agents (MGAs), reinsurers and distribution partners across multiple sectors, including telecommunications, financial services, utilities, travel, original equipment manufacturers (OEMs), and retail.
“This agreement marks an exciting step in bolttech’s growth across Europe, where we are seeing strong momentum for embedded insurance at scale,” said Stephan Tan, chief executive officer, EMEA at bolttech. “With AXA Partners, we’re bringing together complementary capabilities and a shared ambition to deliver more value to partners and their customers through innovative insurance experiences.”
Gunter Uytterhoeven, chief customer and strategy officer at AXA Partners, added that evolving customer expectations are driving demand for seamless, tailored insurance. “Customers now expect tailored insurance to be seamlessly embedded in what they buy,” he said. “AXA now offers the widest range of insurance solutions for B2B2C distribution in the European Union, UK and Switzerland markets.”
The agreement follows reports embedded insurance continues to gain momentum across Europe, with market value projected to rise from about US$3.05 billion this year to more than US$14 billion by 2030, according to Mordor Intelligence. Insurtech partnerships and API-driven distribution are driving this expansion, allowing insurers to reach customers directly through digital ecosystems. Industry reports also indicate that embedded products could represent up to 30% of property and casualty and 10% of life insurance sales in the region over the next decade.
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