Bolt Solutions, Inc.: Own the Insurance Customer Relationship Regardless of their Need

Eric Gewirtzman, CEO
The insurance sector has come a long way from agents on foot or in their storefront being the only insurance distribution option. Like many business-to-consumer transactions today, insurance buying and selling is moving online and shifting to an “Omni-channel distribution” model. However, moving insurance from a traditional agent/consumer model to provide more buying options through an Omni-channel relies heavily on technology. Yet, traditional insurance IT environments were rarely designed to be consumer-facing. As a result, the move to Omni-channel brings with it new challenges for insurers, in technology, product options, and process. “Today’s focus is on creating an easier way for insurers and their customers to do business,” remarks Eric Gewirtzman, CEO of Bolt Solutions, Inc. Before, a sale took place face-to-face between agent and prospect, typically followed by an underwriting process that could take weeks to complete. But, companies like Apple, Google and Amazon have changed consumer expectations when it comes to the buying experience. Today’s consumer wants all the information at their fingertips, the options presented in an easily understood format, and the ability to make a decision and have insurance coverage in minutes rather than days or weeks. “What we enable our insurance company customers to do is to effectively deliver an Omnichannel distribution experience, as well as meet the needs and expectations that come with it,” notes Gewirtzman. “In doing so, it is also important for insurers to recognize the value of that customer relationship, because in today’s world, owning the relationship for the long term is more valuable than a one-time sale.”

The BOLT Platform combines a SaaS-based technology offering with all the other elements required—the people, processes, and markets—to provide a powerful sales and distribution Omni-channel environment. “The BOLT Platform acts as a bridge between buyers of insurance, whether it’s the consumers or agents, and the markets for insurance,” explains Gewirtzman. “Our platform allows any insurance company to provide any insurance product and the best possible customer service across virtually any channel.”
The platform acts as a window to the broader insurance market, and enables insurance companies to go beyond their own portfolio of products and offer products from another insurance carrier to provide the best fit for their customer–because the relationship is more important than the sale of a specific product. In addition, insurance carriers spend heavily on advertising. “We help them to better capitalize on their huge advertising spend. Consumers tend to buy a brand, so when an insurer can address the customer need, even if it’s with a competitor’s product, they are still selling the brand with the goal of fostering a relationship for life,” expounds Gewirtzman.


The BOLT Platform acts as a bridge between buyers of insurance, whether it’s the consumers or independent agents, and markets for insurance


But a technology solution is only one component of the Bolt Platform and what Bolt Solutions offers. The BOLT Platform offering has as an option for carriers to leverage The Bolt Insurance Agency, which is an online agency fully licensed to distribute insurance in all 50 states in U.S., providing another distribution option for Bolt’s insurance company customers. “Given consumer buying trends, the move to online for transacting business, and the way insurance landscape is shaping up, our belief at Bolt is that the winners among insurance carriers are going to be those who do the best job of owning the customer relationship by consistently meeting expectations in product and service,” explicates Gewirtzman. “As consumer expectations continue change and impact insurance distribution, we intend to be the enabler to help insurers respond, give the customer what they want and establish a relationship for life.”

Company
Bolt Solutions

Headquarters
New York, NY

Management
Eric Gewirtzman, CEO

Description
Offers the leading online sales and client service platform for anyone who wants to sell or buy insurance online