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bolttech's Stephan Tan recognised as Executive of the Year - Insurtech at the SBR Management Excellence Awards

His vision and dedication continue to drive the company’s mission to build the world’s most internationally scaled technology-enabled insurance ecosystem.

Stephan Tan, bolttech’s Group Chief Strategy Officer, and CEO – Insurance Solutions has been named the Executive of the Year - Insurtech at the SBR Management Excellence Awards. The award recognised his exceptional leadership and strategic prowess, which have played a pivotal role in the company's remarkable growth and success.

Founded in 2020, the insurtech company has rapidly expanded its footprint, serving customers in over 35 markets across the United States, Asia, Europe and Africa. bolttech is known for its cutting-edge digital and data-driven capabilities, facilitating seamless connections between insurers, distributors, and customers, thus transforming the way insurance and protection products are bought and sold.

Leading bolttech’s record-breaking Series B fundraise

Stephan Tan's achievements in 2023 have been marked by bolttech’s record-breaking Series B fundraising, which raised an impressive US$246m for the company and welcomed new investors Tokio Marine, MetLife, Khazanah Nasional and LeapFrog Investments. This achievement represents the largest ever Series B round for an insurtech, at an upround valuation of over US$1.6b. 

This milestone comes less than two years after bolttech secured the largest-ever Series A round for an insurtech, attaining unicorn status. In a time when mega-round funding for the global insurtech sector is at its lowest levels since the first quarter of 2020, Stephan's leadership stands out as visionary and forward-looking.

Achieving strategic growth as a world-leading insurtech

As a founding member of bolttech's executive team, Stephan has consistently collaborated with the senior leadership team across various functions, positioning bolttech as a formidable force in the insurtech and fintech industries. Furthermore, he has spearheaded initiatives to accelerate market leadership in embedded insurance and protection. 

Leading bolttech's Strategy and Investment team, Stephan’s responsibilities include driving corporate strategy, investments, and mergers and acquisitions. He has successfully secured inorganic acquisition opportunities to support the company’s growth ambitions. 

In October this year, bolttech acquired Digital Care, based in Poland, to reinforce its market-leading position in embedded protection. This acquisition marks bolttech's entry into four new markets (Poland, Croatia, Lithuania, and South Africa), expanding its global footprint and product offerings, whilst significantly enhancing its operational scale and embedded protection distribution partner network. 

Rob Schimek, CEO of bolttech Group, commends Stephan's contributions, saying, "As part of the founding executive team, Stephan has been instrumental in guiding bolttech's strategic direction and continued growth as a world-leading insurtech since day one. Our recent record-breaking Series B fundraiser, defying the current capital markets backdrop, is a testament to his exceptional contributions and leadership. His ability to lead his team to develop and execute our strategic initiatives, coupled with his relentless dedication to our company's mission, has been a great inspiration to the entire team."

In August, Stephan expanded his leadership responsibilities to take on the additional role of CEO – Insurance Solutions, overseeing bolttech's underwriting and reinsurance businesses. In this new expanded role, he is set to drive the growth of the company's general insurance arm in Hong Kong.

Moreover, Stephan plays a crucial role in developing and growing bolttech's global strategic partnerships, including with investors such as Tokio Marine and MetLife, as well as with strategic partners like Allianz. These partnerships bring complementary capabilities and partner networks to expand bolttech's market reach, distribution channels, and customer access.

Outside the office, Stephan is actively engaged with the fintech and insurance community, representing the company in key industry events. He is also passionate about education and continuous learning, organising internal Masterclass workshops and serving as a guest lecturer at the NUS Business School in Singapore, nurturing the next generation of business leaders.

Stephan Tan's remarkable achievements at bolttech, including the groundbreaking Series B fundraiser and his significant contributions to the company's strategic priorities, have undoubtedly earned him the title of Executive of the Year at the SBR Management Excellence Awards. 

The SBR Management Excellence Awards is presented by Singapore Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's employee engagements and management initiatives, please contact Julie Anne Nuñez at [email protected].

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