AVA Insurance Brokers and AVA Insurance Agency, a Singapore-based insurance intermediary and speciality broker, have been acquired by Singapore-based insurtech company bolttech.
Boltech completed its $247 million Series A funding round last year, with significant backers including Singapore’s EDBI.
The acquisition of AVA would hasten the launch of bolttech’s insurance exchange in Singapore, which will connect insurers, distributors, and clients, making insurance buying and selling quicker and more efficient.
Boltech works with insurers, telecoms, merchants, banks, e-commerce, and digital destinations to integrate insurance into their customer journeys at the moment of need, using a suite of digital and data-driven capabilities.
Boltech has serviced consumers in 30 regions spanning North America, Asia, and Europe since its founding in 2020.
AVA’s service to its partners and customers is stated to be unaffected by the change in ownership, and the existing AVA staff is said to stay intact following the integration.
