The financing will be used to accelerate insurer integrations, expedite agent onboarding, augment software engineering teams, and enhance sales, support and marketing organization.
The solution uses data points aggregated from the company’s online marketplace to better predict optimum placement of insurance risks in a significantly reduced timeframe.
Through the new partnership, agents using Bold Penguin’s online marketplace will gain access to real-time pricing for the risks already coming through the portal.
The startup’s agent portal provides a place for all the parties to a commercial insurance transaction to work in a single place.
Bold Penguin’s infrastructure has allowed the Lockton company to supercharge its brokerage and has created efficiency that our agents need during the quoting experience.
Having begun using Bold Penguin for a small number of states and producers, INGUARD has now adopted the platform for its entire agency.
The company’s search engine capabilities specific to appetite, eligibility and product highlights have been integrated with Bold Penguin’s commercial lines agent portal.
Prior to 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 partnership enables agent and broker users of the Bold Penguin platform to rapidly triage, quote, and bind commercial insurance coverages through an API integration.
By broadening the reach of its Exchange, the acquisition will enable Bold Penguin to better serve insurance carriers, brokers and agents through increased scale and a single choice in the market.