Over the years, we’ve received and responded to many questions about commercial insurance leads for insurance agents in general and the Bold Penguin Exchange in particular. Here are just a few that we’ve answered from current and future send- and receive-side Exchange partners.
We know you’ve got questions about the largest prospect marketplace for commercial insurance leads. And we’ve got answers. It’s been almost ten years since we founded the Bold Penguin Exchange, so we’ve heard quite a range of inquiries. We gleaned that while many are familiar with the send-side and the receive-side within our prospect marketplace, fewer know the details that underpin decisions. For example, where our prospects originate, how we ensure a “warm transfer,” or what coverage lines we support. Below are nine questions we’ve heard most and the answers you’re seeking
Answer: Bold Penguin works with commercial insurance leads from many different send-side partners, like insurance carriers, brokers, Managing General Agents (MGAs), retail agents, 3rd party affiliates, and business owners who have found us through internet searches and referrals. If you are interested in becoming a send-side partner, click here.
Answer: Yes! We work with several different entities (not just insurance partners) that benefit from becoming a Bold Penguin channel partner. Our channel partners strive to empower SMB customers and help properly protect their investments just like we do. Some of the most common types of organizations we work with are financial institutions, fintechs, and e-commerce brands, among others.
Answer: The Exchange maximizes your efficiency by reducing the time spent quoting risks you ultimately deem ineligible. When you become an Exchange send-side partner, you are rethinking your sales flow for out-of-appetite prospects. You can keep the commercial insurance leads that fit within your risk appetite and refer the others – you might even gain potential revenue from the referral.
Answer: Once sign-up is complete, send-side partners can start leveraging the Exchange in as little as one or two business days, while receive-side partners can begin within one business week of registering.
Answer: Yes! Send- and receive-side Performance Reports are sent at a cadence of your choosing and include data points on performance metrics, like commercial insurance leads sent and received, to identify growth opportunities.
Answer: Customer Success Managers (CSMs) from the Bold Penguin Exchange will ask prospects several questions before sending the commercial insurance leads to the matched receive-side partner. Just a few examples of data points are name, address of operations, number of employees, business structure, years in business, and whether they are currently insured.
Answer: The Exchange supports commercial insurance leads for over 19,000+ NAICS codes for workers’ compensation (WC), general liability (GL), business owner’s policy (BOP), commercial auto, professional liability, and more.
Answer: Yes. Exchange partners have a dedicated CSM, which is a key differentiator compared to other prospect marketplaces. Your CSM is your trusted advisor for all things Bold Penguin Exchange, and is there every step of the way to ensure you get optimal results from the Exchange.
Answer: When we use the term “warm transfer,” we mean that the Bold Penguin CSM has vetted the commercial insurance lead to confirm intent to buy and will provide context about their insurance needs before completing the transfer (usually done by phone) to the receive-side partner. Bold Penguin CSMs work hard to ensure a smooth, efficient handover and a pleasant experience for all parties.
Still have questions about the Bold Penguin Exchange? Click here for more information.
Over the years, we’ve received and responded to many questions about commercial insurance leads for insurance agents in general and the Bold Penguin Exchange in particular. Here are just a few that we’ve answered from current and future send- and receive-side Exchange partners.
Agents, carriers, and consumers celebrate Small Business Week
This month, we feature Jake Hogan, Director of Distribution at Neptune Flood Insurance. Jake answers the question "what does flood insurance cover?” and more in this month’s edition of our 3 Questions (and a Bonus) series.