How An Insurtech Unicorn Closes The Global Protection Gap
Presented by Oliver Wyman
In this episode of Oliver Wyman’s Reinventing Insurance podcast, Rob Schimek, founder and group CEO of bolttech, joins Paul Ricard to share his journey from working at leading insurers to building a global Insurtech unicorn.
Rob explains how his experience inside large incumbents shaped bolttech’s strategy, and why the company focuses on closing the global protection gap rather than disrupting the industry for its own sake.
The podcast conversation between Rob and Paul explores how ecosystems, embedded insurance, and AI are reshaping insurers' roles from claim payers to problem solvers. Rob also shares his partnership playbook, his views on online safety and cyber risk, and his advice for the next generation of insurance talent on using AI wisely while maintaining a balance between life and work.
Other discussion highlights from the episode include:
- Rob’s career journey from incumbent executive to Insurtech founder and CEO
- Reasons behind the increasing global protection gap, influenced by demographics, climate change, and technology
- The role of embedded insurance, exchanges, and ecosystem partnerships in bridging protection gaps
- The shift toward prediction, prevention, online safety, and service-led insurance models
- The potential of AI to empower agents, enhance customer service, and influence the future skills needed in the insurance industry
This episode is from Oliver Wyman’s Reinventing Insurance podcast, a series that explores best practices for taking a CustomerFirst approach to innovation within insurance. Throughout this series, host Paul Ricard discusses lessons, challenges, and new ways of working with guests who share their firsthand experiences.
Oliver Wyman’s Mick Moloney, partner and Global Head of Insurance and Asset Management, also has a Reinventing Insurance newsletter, where he shares reflections, market views, and insurance and private equity insights for industry reinvention.