bolttech forms JV with Sumitomo on device protection in Asia

They expect the device protection market in the region to outpace global growth.

Insurtech firm bolttech has entered a joint venture with Sumitomo Corporation to provide embedded device protection solutions to distribution partners across several Asian markets.

The partnership will focus on delivering technology-enabled services such as end-to-end device lifecycle management, including device upgrade programmes. 

The initiative aims to help partners offer seamless device protection and upgrade options to consumers, starting with a rollout in Southeast Asia.

Rising smartphone prices and growing adoption in emerging markets, particularly in South Asia and Southeast Asia, are driving global demand for device protection services. 

The trend is being fuelled by younger demographics and increased interest in affordable, high-performance used smartphones. 

The companies expect the device protection market in the region to outpace global growth, creating further opportunities for technology-driven insurance and protection solutions.