Increase Revenue And Stickiness With Bold Penguin’s Exchange

In an ideal world, you would be able to match appetite for every customer. But let’s face it…that’s not always the case. You want to help them and also grow your business. Now what?


A big part of your success as a trusted advisor to your small and medium sized business (SMB) customers is understanding them and their insurance needs and facilitating solutions that address them. In an ideal world, you would be able to match appetite for every customer. But let’s face it…that’s not always the case. Sometimes you simply don’t have any carriers that fit your customer’s business needs. But you still want to help them and grow your business with them.

Now what?

The Bold Penguin Exchange is here to help

Since 2016, the Bold Penguin Exchange conveniently allows users to send and receive prospects so they can maximize revenue while growing their book of business. Our partners have been sending prospects to the Bold Penguin Exchange to address the commercial insurance needs of businesses that are “not a fit”, i.e., out-of-appetite for their agent.

Brokers, agencies, carriers, financial institutions, fintechs, SMB enabled marketplaces, and e-commerce brands all send prospects to the Exchange.

Once referred, Bold Penguin matches the prospects to agents within our ecosystem who have appetite for them via a warm phone transfer. When the prospect is matched, the sender receives a revenue split. What was a tedious and time-consuming process now enables SMBs to obtain commercial insurance quotes quickly and easily.

“The approximately 32 million SMBs in the US are very limited when it comes to time on a daily basis. Getting insurance for their business is time consuming and could take weeks. The Exchange makes finding insurance quick and easy for business owners” says Ron Cugino, Senior Customer Success Director at Bold Penguin. “It also provides an additional revenue stream for agents, brokers and other Bold Penguin partners as well as helping them better serve their customers.”

Use cases

Below are just a few examples of SMB prospects that might be referred to the Exchange:

●      Businesses whose carrier no longer has appetite for them

●      Customers whose operations may have changed (ex. expanding out of state) or expanded into a new line of business

●      New businesses struggling to find insurance with an agent who specializes in their niche

●      Prospects shopping for a better policy in terms of coverage and price

The Exchange has the answer for these and myriad other use cases where customers are struggling to find appetite for their unique circumstances.

How it works

There are four participants in the typical prospect Exchange workflow for commercial insurance leads:  

●      Prospects

●      Send-side partners who refer the Prospects

●      The Exchange who matches the Prospects’ requests

●      Receive-side partners who act as the matched agent

For send-side partners, the process couldn’t be easier. The partner simply refers the Prospect to the Exchange, is notified via daily reports when a prospect they referred is matched and then receives compensation monthly.

Receive side partners

The Exchange also creates an additional revenue stream for receive-side partners who now have warm prospects to quote and bind. They can also customize the prospects with whom they match via filters of state, business type, coverage needs, and price range. This ensures they only receive qualified leads, maximizing time, efficiency, and profitability.

Make more money on commercial insurance

The Bold Penguin Exchange has experienced record-breaking matches recently, facilitating business between thousands of send-side and receive-side partners.

The Exchange has become a “must have” for its send- and receive-side partners. Founded by insurance agents, for insurance agents, no other insurance software provides more vetted, warm prospects, seamlessly, like the Bold Penguin Exchange.

Recent Articles

Learn about a comparative rater application that simplifies the time-consuming and complex task of gathering comparative insurance rates from multiple providers, but also does much more.

Bold Penguin presents the latest issue of The Bold Brief, a recap of recent Bold Penguin innovations, carrier updates, and educational resources. We are thrilled to share this tool with our agents and partners to support your continued growth and success.

Ron Cugino, Bold Penguin National Account Director, provides insights on the Exchange and small business insurance coverage in this issue of 3 Questions.

Write More Commercial Insurance

Our newsletter will show you how
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.