(Image source: IIR.)
bolttech (Singapore) and Bold Penguin (Dublin, Ohio) have formed a global strategic alliance to develop a combined commercial and personal lines insurance distribution offering for agents, insurers and embedded distribution partners in the U.S., Europe and Asia.
The companies say the arrangement will combine Bold Penguin’s commercial lines distribution technology and carrier network with bolttech’s personal lines capabilities, AI-enabled workflows and international insurance distribution infrastructure.
Rob Schimek, Group CEO, bolttech.
For Bold Penguin, the alliance provides a route to expand its commercial lines capabilities internationally while adding bolttech personal lines offerings for its U.S. customers through a single interface.
Bold Penguin provides a commercial lines digital exchange, an integrated carrier network and data and AI capabilities through DeX ai, and an integrated commercial carrier network. bolttech operates insurance distribution and protection platforms across commercial and personal lines in 39 markets.
“Bold Penguin is the leading commercial insurance distribution platform,” comments Rob Schimek, Group CEO, bolttech. “Their submission automation, AI-powered underwriting workflows and commercial orchestration platform complement our technology capabilities, personal lines expertise, and insurance ecosystem globally.”
Combining Commercial and Personal Lines
Peter Settel, President and CEO, Bold Penguin.
The companies position the alliance as a way to let customers use capabilities from both platforms without each company independently replicating the other’s technology and distribution strengths.
Bold Penguin President and CEO Peter B. Settel says the arrangement will support the company’s international expansion while giving its U.S. customers access to bolttech’s personal lines capabilities.
“While we expand globally, we will also now offer Bold Penguin’s U.S. customers bolt’s personal lines solutions through a single interface,” Settel comments.
The companies say the combined offering will support agents, carriers and embedded distribution partners across commercial and personal lines while allowing each organization to continue developing its respective areas of specialization.
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