To strengthen its integrated insurance capabilities globally and expedite its strategic expansion in East Africa, bolttech, a global InsurTech, has acquired Kenya-based digital insurance platform mTek.

Bolttech can now combine its existing worldwide insurance and protection network with mTek’s digital platform and local market knowledge thanks to the acquisition.

Increased regional innovation and the extension of embedded protection products across many African markets are anticipated to be supported by the combined capabilities.

By providing straightforward and transparent digital services, the company has gained recognition for enhancing insurance access and promoting financial inclusion in Kenya.

Major industry players including GA Insurance, Sanlam, and Britam have partnered with the company thanks to its approach, and in September it joined forces with Mastercard to improve embedded insurance solutions throughout East Africa.

bolttech EMEA Chief Executive Officer, Stephan Tan 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.”

mTek Chief Executive Officer, Bente Krogmann 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.”

To maintain continuity for clients, staff, and partners, Krogmann and the rest of mTek’s executive team will continue to oversee activities in East Africa. After the merging, the company will also rename.

Both businesses have stated that they will collaborate closely to guarantee a seamless transition for all parties involved.