NEW YORK, April 19, 2017 /PRNewswire/ -- BOLT® Solutions, Inc. (www.boltinc.com), the leading digital distribution platform to the property and casualty (P&C) insurance industry, today announced its continued strong growth in all aspects of the business and the industry's adoption of the BOLT Platform. Ending 2016 with both strong revenue growth and market momentum, BOLT Solutions remains focused on its goal to enable insurers to successfully deliver products and service in one stop.
The expanding use of the BOLT Platform over the past year has skyrocketed, resulting in BOLT's continued momentum:
- Annualized opportunities flowing through the platform up to 4.1 million in 2016 compared to 1.9 million in 2015
- Carrier connections grew to 5,557 in 2016 from 4,900 in 2015
- Users on the platform increased to 75,000 in 2016 from 50,000 in 2015
To support its clients and further expand its reach into the InsurTech field, BOLT recently released version 8.0 of the groundbreaking BOLT Platform™ available in two versions, BOLT ENTERPRISE and BOLT PREMIER. BOLT 8.0 meets the needs of insurers at any point in their digital distribution journey, offering the ability to integrate traditional and digital distribution capabilities with a tightly integrated market network of robust product options.
All BOLT products rapidly bring insurers up to today's customer-centric standards by expanding product selection and digital channels of engagement. Since the platform easily scales to meet current and future needs, regardless of the insurers current business model or digital standing, BOLT customers are positioned to exceed strategic growth objectives by creating the "customer-obsessed" environment of tomorrow, today.
"Our strong growth underscores our position as an InsurTech innovator committed to partnering with P&C incumbents to turn industry disruption into strategic advantage," said Eric Gewirtzman, CEO, BOLT Solutions. "Insurance companies, once considered to be late adopters, now have all the tools they need to evolve with the rapidly changing expectations of the insurance consumer. We recognize the native advantages of existing insurers and build on their inherent strengths."
BOLT is committed to providing the digital capabilities and product choice that incumbents require to flourish. BOLT's success and market momentum is positive proof that the company's strategic investments and leadership in expanding digital channels are a winning strategy.
"While our growth is gratifying, it's more exciting to see how our efforts are advancing incumbent insurers," said Ari Katz, president of BOLT Solutions. "BOLT is the original InsurTech committed to helping insurers expand their digital reach, and our powerful tools are just the beginning of how we can revolutionize the insurance industry."
About BOLT Solutions Inc.
BOLT® Solutions, Inc. (www.boltinc.com), the leading provider of digital distribution solutions to the P&C insurance industry, is helping insurers transform the way they sell and market their products to consumers and small business owners. Compatible with existing infrastructure, The BOLT PlatformTM provides a single interface that connects seamlessly with back-office systems and improves carrier reach through a vast market network of new products. Insurers gain the ability to bundle their offerings with those from other carriers, positioning them to meet all of the customer's needs without underwriting additional risk. Designed to connect carriers and their agents directly to consumers and business owners, The BOLT Platform delivers the optimized solutions, and ideal experience customers expect today. BOLT is an Actua company (Nasdaq: ACTA).
SOURCE BOLT Solutions, Inc.