The digital exchange designed to streamline the quote-to-sale process for small small business insurance will continue to operate under its name and leadership.
The financing will be used to accelerate insurer integrations, expedite agent onboarding, augment software engineering teams, and enhance sales, support and marketing organization.
Hub will acquire the Insureon digital insurance agency and brand while Bold Penguin will acquire the Insureon technology platform.
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.
The startup’s agent portal provides a place for all the parties to a commercial insurance transaction to work in a single place.
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.
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.
RiskGenius’s qualitative policy review capabilities will become part of Bold Penguin’s insurance intelligence effort, which leverages data and has a focus on intuitive workflow processing.
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.