Bold Penguin and NOW Insurance to Partner to Quote Professional Liability

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Partnership Will Make Professional Liability Insurance Easier to Quote and Bind

Bold Penguin, the world’s largest commercial insurance exchange, announced today a new partnership with NOW Insurance (NOW), an AI-enabled insurance platform designed to match small business owners and professionals with affordable insurance coverage. NOW Insurance will offer its medical malpractice and general liability coverage through Bold Penguin’s Agent Terminal in late 2021, opening its products to a network of thousands of agents across the United States. With the addition of NOW to the Terminal, Bold Penguin’s agency partners will gain online access to traditionally difficult classes of coverage, enabling them to quote and bind policies for professional customers in minutes.

“Two things we always look for in new carrier partners are a commitment to digital enablement and the ability to fill gaps in our existing offerings,” said Jen Tadin, Bold Penguin’s Chief Growth Officer. “NOW Insurance is a perfect fit for us on both fronts. They believe in the power of technology to make small commercial insurance easier just as much as we do, and their professional liability coverage will add more options in the exchange, ensuring a lot of added value for both NOW and our customers.”

“Professional liability can be a challenging sector in small commercial insurance, especially in the healthcare sector where the entire system is under an enormous amount of stress in the wake of COVID-19,” added Tadin. “Our partnership with NOW is going to make it easier than ever for people like registered nurses, physicians assistants, doctors, accountants -- basically any professional that might not have access to online professional liability solutions -- to get the coverage they need to take on consultative roles and leverage their experience to help others while protecting themselves.”

NOW Insurance currently operates on a direct-to-consumer model, offering a fast, easy quote-to-bind process. The company’s partnership with Bold Penguin marks their first venture into an agent-facing channel, extending its reach into a new market while maintaining the effortless buying experience at the core of its business.

“Whether you are a healthcare professional, a technology consultant, or anything in between, getting professionals the insurance they need shouldn’t require you to jump through hoops or pay exorbitant premiums,” said Philip Cabaud, CEO and co-founder of NOW Insurance. “Everything we do at NOW is rooted in the philosophy to eliminate the friction professionals currently encounter when evaluating and selecting their coverage options. By partnering with Bold Penguin, we are increasing accessibility to first-class coverage that meets the customers’ exact needs and requirements at affordable prices.”

The partnership between Bold Penguin and NOW Insurance also represents a significant opportunity for the thousands of insurance agents across the country using Bold Penguin’s Terminal to quote and bind small commercial policies. Not only will the addition of NOW ’s products enable them to offer their clients more choice, it also opens up new possibilities for niche specialization.

“Access to small commercial insurance is a pain point for all businesses, but it’s especially difficult for professionals working for themselves rather than bigger organizations like hospitals or firms,” said Karnina Szymanski, Bold Penguin’s President of Insurance. “The kind of access to professional liability coverage this partnership is going to give agencies is almost unheard of, and it’s going to open doors for certain forward-thinking agents to drive growth by laser-targeting underserved markets like medical malpractice.”

About NOW Insurance

NOW Insurance, a data-driven, AI-powered insurtech, is designed to disrupt a centuries-old business model to deliver a range of customizable, affordable and flexible coverage options that meet the needs and requirements of the modern business and professional. By leveraging advanced, next generation technologies such as predictive analytics and machine learning, NOW Insurance has transformed previously intricate and complex insurance processes into seamless, frictionless customer experiences. Located in San Francisco and Houston, NOW Insurance was founded in 2019 by industry veteran Philip Cabaud to provide best-in-class service for professionals and businesses in ways they have yet to experience with traditional, legacy insurers. For more information, please visit www.nowinsurance.com.

About Bold Penguin

Bold Penguin simplifies commercial insurance for everyone. Bold Penguin started out by building the world’s largest commercial insurance exchange, which has connected millions of small businesses to agents and underwriters. By leveraging the Bold Penguin technology, agents quoted over 1 million small businesses in 2020. Agents use the Bold Penguin Terminal, complete one application, and receive multiple quotes back from a diverse carrier panel. Bold Penguin was founded in 2016 by a group of entrepreneurs who spent their early days as agents working with carriers like Allstate, Nationwide and Progressive. For more details, please visit www.boldpenguin.com.

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