For a second consecutive year, Lakshan DeSilva is recognized for innovations that modernize insurance
COLUMBUS, OH (October 2, 2022) — Lakshan DeSilva, Chief Data Scientist at Bold Penguin, has been named to PropertyCasualty360’s Insurance Luminaries Class of 2023 in the category of Technology Innovation. DeSilva leads Bold Penguin’s data science team, developing machine learning and artificial intelligence (AI) products to help automate data processes. Bold Penguin is a leading integrated digital solution platform that simplifies commercial insurance.
This recognition celebrates technology innovation in the property and casualty insurance industry. The program spotlights top professionals, teams, organizations, programs, practices, and products within the sector that strive to modernize and humanize the business. A panel of industry experts selected the 2023 honorees based on the following:
“Today’s top insurance organizations recognize the industry’s history and purpose while embodying contemporary processes and services,” says NUProperty & Casualty Executive Editor Elana Ashanti Jefferson. “My colleagues and I are thrilled to be able to recognize pace-setting insurance organizations, programs, practices, teams, and individuals as part of the annual NU PropertyCasualty360 Luminaries recognition program.”
DeSilva is spearheading the development of in-house-built AI and data tools for Analytics, one of the four core products in Bold Penguin’s product suite. Analytics offers leading-edge business intelligence tools specifically designed to support the insurance underwriting process for carriers, managing general agents (MGAs), and managing general underwriters (MGUs) – transforming them into data-driven enterprises through technology innovation.
Bold Penguin’s Analytics solutions include SubmissionLink™ and ClauseLink™. Used independently or together, they leverage proprietary AI to extract, enrich, and comprehend data from submission documents and coverage forms and inject it into the insurance underwriting process. Data-driven products like these are essential to insurers’ efforts to deliver faster, more accurate quotes on the Bold Penguin platform.
“To be recognized as a Technology Innovator in the 2023 Luminaries Class for the second time is a real honor,” said DeSilva. “I am looking forward to what the third generation of artificial intelligence tools brings to the commercial insurance industry and how Bold Penguin can leverage them to bring best-in-class service to our partners.”
Prior to joining Bold Penguin, DeSilva was Head of Business Solutions at QBE Insurance, where he saw underwriters run basic internet searches for data, and identified a need for data science solutions in insurance. He pioneered some of the earlier versions of these solutions before building a firm around the second-generation technology.
DeSilva is a graduate of both Harvard Business School and Singularity University, where he also taught a course designed for Fortune 500 executives on what and how to invest in AI solutions.
About Bold Penguin
Bold Penguin is a leading integrated digital solution platform dedicated to simplifying small commercial insurance. Our technology makes the quote and bind process quick, effortless, and profitable for all parties - agents, brokers, and carriers. Bold Penguin’s innovative product suite has digitized and transformed a slow, manual process resulting in reduced costs, increased efficiency, and better overall outcomes. For more information, please visit www.boldpenguin.com
To learn more about the PropertyCasualty360 Insurance Luminaries 2023 Award, visit https://www.event.propertycasualty360.com/insurance-luminaries/3486928
Small commercial insurance applications can originate from the Veruna Agency Management System, launch into the Bold Penguin Terminal, and return quotes seamlessly to Veruna
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