Bold Penguin Adds Business Auto to Its Commercial Insurance Exchange
Most In-Demand Coverages Now Available on a Single Digital Platform
COLUMBUS, OH, February 19, 2020 — Bold Penguin, a rapidly growing commercial insurance technology provider, announced today the addition of commercial auto insurance to its platform. The newly added capability allows business use auto insurance to be quoted alongside the other types of coverage in a bundled fashion through a single application.
Commercial auto represents 12% of the growing $100 billion small commercial market for the 30.2M small businesses in the United States. The growing demand for being able to efficiently review all types of coverage stemmed from the 1M businesses Bold Penguin powered to date.
“We are excited to go live with commercial auto which was in high demand from our existing broker partners,” said Ilya Bodner, founder and CEO of Bold Penguin. "This is a significant enhancement to our platform, which now allows for other lines such as general liability and workers comp to be quoted alongside business auto through a single, uniform, tightened up application flow. Following this announcement, we will be expanding commercial auto options and continuing our expansion into E&S.”
Nationwide Mutual Insurance Company is one carrier now offering commercial auto insurance, amongst other small business coverages, utilizing the latest technology advancement in its Commercial Digital Storefront. The company won the highest ranking for overall customer satisfaction two years in a row in J.D. Power’s 2018 and 2019 U.S. Small Commercial Insurance Satisfaction Studies.
“Nationwide is proud to have spent the last 90 years empowering and protecting small business owners,” said Nationwide Property & Casualty President and COO Mark Berven. “Integrating Commercial Auto into our Commercial Digital Storefront tool with Bold Penguin allows us to continue to support small business owners with an efficient, user-friendly experience.”
Bold Penguin’s technology allows agents to quote and bind policies for SMBs 3 times faster than the traditional process. The addition of commercial auto to the platform, now the largest commercial insurance exchange, streamlines the quoting experience for General Liability, Business Owners Policy (BOP), Professional Liability, and Workers Compensation.
About Bold Penguin
Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Founded by a group of entrepreneurs who spent their early days working with Allstate, Nationwide, and Progressive alongside regional carriers and established insurance agencies. For more details, please visit www.boldpenguin.com.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by both A.M. Best and Standard & Poor's. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; pet, motorcycle and boat insurance. For more information, visit www.nationwide.com. Follow us on Facebook and Twitter.
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