How Bold Penguin is Uniting the Insurance Industry

Collaboration with Insurtech is Bringing the Small Commercial Market to a Single Platform to Benefit Customers


We are obsessed with simplifying and uniting the commercial insurance market. Why? Because it needs it, and customers deserve it. Historically, the industry has been known for its complexity, fragmentation and sluggish timelines – it could take up to 20 weeks for a small business owner to obtain commercial insurance. With 30.2MM small businesses in the United States, commercial insurance needed to evolve to both better meet the needs of the market and incorporate leading technology solutions. 

Bold Penguin recognized these challenges, and three years ago launched what is today the largest commercial insurance exchange in the market. We streamline the connections between insurance companies, small business owners, and the agents and brokers who serve them, reducing the time to obtain a commercial policy – by up to 91.6%. Our Exchange is a single source that enables rapid connections, and drives simplification and unification in the market. These advances benefit everyone in the commercial insurance market, but especially the small business owner. 

Because of the size of our Exchange, Bold Penguin makes a true difference in solving the industry’s problems and sees market collaboration and unification as a primary driver of future success. For example, we recently announced the acquisition of xagent, an independent, multi-quote platform for the standard and surplus lines business insurance market. The xagent platform will soon be integrated with Bold Penguin’s Exchange, which will help us better serve insurance carriers, brokers and agents through increased scale and a single choice in the market. Instead of forcing the market to choose between our divided solutions, acquiring xagent gives customers one simple, comprehensive solution to trust. Collaborations like these are the future for our industry because they drive real value such as: 

  • Efficiency – By welcoming new carriers and agents, and incorporating existing platforms like xagent’s, we create connections and efficiencies that never previously existed. This radically reduces the number of screens, portals and access points needed to get a quick and accurate quote. 
  • Empowerment – Empowerment, not displacement, is at the core of Bold Penguin’s solution because our technology enhances the human touch while preserving the value of the process. When we work together to leverage technology and support the human, we all succeed. 
  • Insurtech is Growing Up – Customers and partners demand and deserve value. Companies providing concrete, proven results are choosing to partner to fuel the future of the industry. We are stronger together, and bringing in more players to the Bold Penguin platforms best serves the commercial market as a whole. 

While we are a leader in the unification message within the industry, we are not alone. Since 2017, insurance companies and technology companies around the world have publicly announced more than 180 partnerships, according to KPMG. And, the firm estimates the actual number, including non-public agreements, to be significantly higher.* Major players and innovation leaders, like Nationwide and Progressive, have already adopted this model and joined forces with Bold Penguin. They are seeing steady returns including, helping to save small business owners a combined total of more than a billion hours along the way.

Bold Penguin connects a fragmented industry via one integration, and the xagent acquisition reinforces our strategic focus around uniting – not dividing – the commercial insurance industry. In this new and integrated scenario, everyone wins – especially the small business owner.


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