BOLT® Solutions, Inc. Continues Focus on Powering Insurers With 21st Century Distribution Capabilities, Resulting in Company's Strong Growth Momentum
NEW YORK, March 08, 2016 (GLOBE NEWSWIRE) -- BOLT® Solutions, Inc. (www.boltinc.com), the leading 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 2015 with both strong revenue growth and market momentum, BOLT Solutions remains focused on its goal to enable insurers to successfully deliver products and service through the consumer's channel of choice.
The expanding use of the BOLT Platform over the past two years has been staggering with premium driven through the platform growing from $200,000 to $1.3 billion. The number of users during the same timeframe increased from 1,600 to almost 48,000 today, translating to close to 3,000% growth, with new business sold via the platform increasing 2,000%.
BOLT's success and market momentum is strong evidence the company's investment in establishing and driving the digital channels market has been time and money well spent in helping insurers successfully redefine distribution models and best serve today's consumers and small businesses.
To support the company's growing market footprint and the business volume flowing through the BOLT Platform, BOLT continued to expand and mature its operation in 2015 with a 20% increase in sales staff and the expansion of the executive team with the addition of Kathleen Garlasco as senior vice president of enterprise marketing. More recently, Scott Van Slyck has joined as executive vice president of enterprise sales. BOLT has also continued its strong investment in the platform, adding new features such as mobile capabilities.
Eric Gewirtzman, BOLT® Solutions, Inc. CEO, commented, "In the past two years, we have enjoyed a great growth trajectory at BOLT, but the most gratifying achievement has been seeing the insurance market's strong adoption of the BOLT Platform to offer consumers their preferred purchasing and servicing channels. We are also seeing rapidly increasing market interest in our approach to integrating traditional and digital distribution channels."
Gewirtzman added, "We appreciate the insurance carriers who have chosen BOLT as a trusted partner and look forward to continuing to work with them and future customers to further refine their respective distribution capabilities and market reach."
About BOLT Solutions Inc.
Founded in 2000, BOLT® Solutions, Inc. enables property & casualty insurance carriers to offer products and services through direct distribution channels. The BOLT Platform is a Software as a Service (SaaS) offering designed to connect carriers and their agents directly to consumers and deliver the ideal and optimized experience customers expect today. The BOLT Platform is compatible with an insurer's existing infrastructure, providing a single interface and a seamless process from consumer to back office systems, as well as a rich data set for reporting, analytics, and market and consumer intelligence. For additional information on BOLT Solutions and the BOLT Platform, visit www.boltinc.com.