Insurtech firm bolttech has named Ridhi Chaudhary (pictured), chief investment officer of Dragon Fund by Liquidity and MUFG, to its board of directors as a non-executive director.
The appointment follows bolttech’s Series C funding round, led by Dragon Fund, and comes at a time when the insurance industry is accelerating its adoption of digital technology.
Chaudhary has a background in private equity and technology investments, with experience spanning technology, healthcare, and sustainability sectors in Singapore, India, and the US.
Her addition to the board is expected to support bolttech’s expansion strategy as it continues to scale its platform and enhance digital insurance capabilities.
Rob Schimek, bolttech’s group chief executive officer, said that Chaudhary’s expertise would provide valuable guidance as the company advances its technology-driven insurance solutions.
“Her diverse experience advising high-growth companies across fintech, health-tech, and other sectors will bring valuable insights to bolttech as we continue to scale. As lead investor in our Series C funding round, Dragon Fund has been a strong supporter of the impact of bolttech’s work, reinforcing our commitment to reshaping the insurance industry through technology and innovation,” he said.
Chaudhary said that bolttech’s model aligns with broader industry trends.
“bolttech has established itself as a leading force in the insurtech space, leveraging its innovative, technology-driven ecosystem to deliver tailored and accessible insurance solutions across diverse sectors,” she said. “I’m impressed with the calibre of the team, and the strength of bolttech’s partnerships, as they work to make protection more seamless and accessible for customers worldwide. I am honoured to join their board and look forward to contributing to bolttech’s continued growth.”
The appointment reflects a growing focus on digital innovation in the insurance industry, as companies invest in technology to remain competitive.
A report by ACORD has found that while digitalisation is a priority for many insurers, only 25% have fully integrated digital technologies into their operations. More than 10% of insurers surveyed have made little progress in adopting digital solutions, while over half are still assessing their digital transformation strategies.
The 2025 ACORD Insurance Digital Maturity Study examined 210 insurance companies across property and casualty, life, and reinsurance sectors. The study evaluated the companies’ level of digital maturity, the impact of digitalisation on business performance, and challenges insurers face in implementing new technologies.
A new section in this year’s report, “AI & Digital Maturity,” explored how artificial intelligence is influencing insurers’ digital strategies.
The study found that AI-driven solutions could reduce operating costs for property and casualty insurers by up to 14.6%, translating into potential annual savings of more than $480 billion across the industry. For life insurers, AI-enabled efficiencies could generate over $300 billion in added value per year.
