InsurTech Innovator Bold Penguin Doubles Down on the Independent Agent Channel
Company launches its New Agent Terminal to Key Agencies
COLUMBUS, Ohio, Sept. 20, 2019 /PRNewswire/ -- Bold Penguin, a rapidly-growing commercial insurance technology provider, has opened up its agent-facing technology in cooperation with key carrier stakeholders. The Agent Terminal gives agencies an innovative, rules-based tool to write commercial insurance quickly, accurately, and more profitably than previously possible.
"Our belief in the trusted advisor, the insurance agent, is one of the cornerstones of Bold Penguin," said Marc DeLeonibus, co-founder and director of the Agent Terminal. "We are thrilled to be able to empower independent agents with the help from major carriers such as Nationwide Insurance in order to give technology that makes the process of quoting and binding commercial insurance more efficiently, in some cases as much as 300% efficiency gain."
Up until now the Agent Terminal, a name given to the product which allows its users to triage, quote and bind commercial insurance, has only been open to Top 100 Brokers. The high-tech, high-touch solution is available in all 50 states across most business categories. Coverage types include most common inquiries in general liability, workers compensation, professional liability, business owner's policy (BOP), and bonds.
"Attune has built a business around digital – utilizing data, analytics and modern technology - to deliver main street and specialty insurance products to independent agents in real-time," said James Hobson, CEO of Attune, an MGA who recently joined the platform. "Bold Penguin shares this passion and we are excited to partner and integrate with them as they extend their presence further in the agency channel," Hobson added.
The company's technology has been recently adopted by Nationwide, Attune, Hiscox, CNA and other leading carriers, and to date helped handle over 950,000 small to midsize businesses get a commercial quote. As a result of the wide adoption, the company has doubled year over year.
"Bold Penguin has been a fantastic partner for our group of agencies," said independent agent Matt Simon, principal at Hill & Hamilton Insurance Agency. "By implementing rules specific to my agency's preferences into the platform, we get the proposals we want when we want them. Because of Bold Penguin, we've been able to leverage relationships with far more carriers, sell more policies, and in far less time compared to the traditional underwriting process."
The company will showcase the Agent Terminal at the upcoming InsureTech Connect conference in Las Vegas, September 23-25.
About Bold Penguin
Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Founded by a group of entrepreneurs who spent their early days working with Allstate, Nationwide, and Progressive alongside regional carriers and established insurance agencies. For more details, please visit www.boldpenguin.com.
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SOURCE Bold Penguin