Bold Penguin's Exchange Drives Innovation in Commercial Insurance

Company worked with Progressive on recently launched small business quoting platform

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May 14, 2019, 08:22 ET

COLUMBUS, Ohio, May 14, 2019 /PRNewswire/ -- Bold Penguin, a commercial insurance technology provider, has announced that it is accelerating innovation in the sector by working with Progressive to power the insurer's new online quoting platform for small business owners, BusinessQuote Explorer® (BQX).

Building off the launch of an API-based approach and a significant expansion of the Bold Penguin Exchange, the work between Progressive and Bold Penguin continues to push the boundaries of innovation and user experience in the commercial insurance space.

"Commercial insurance can be a time-consuming and inefficient experience for all parties involved. We are pleased to work with Progressive, which continues to be a forward-thinking force in the industry," said Ilya Bodner, founder and CEO of Bold Penguin.

Bold Penguin operates an Exchange which utilizes a set of solutions to identify, triage, quote, and bind commercial insurance in a highly efficient and tech-enabled way. The technology handles, synthesizes, and standardizes time-consuming forms so that agents have the ability to focus on customer experience. Using the Bold Penguin Exchange, agents, brokers, and carriers can clearly and confidently choose the right customers to fit their business' preferences.

"We built a fully programmable stack that is used to power Progressive's .com storefronts, their agent-facing portals, and other native systems," said Ben Clarke, Bold Penguin's co-founder and CTO. "Progressive is a great group to work with as they allow us to deploy the latest methodologies. Like us, they are relentlessly working to engineer the value chain while emphasizing the importance of the human counsel and, ultimately, the human touch," Clarke added.

"We've enjoyed working with Bold Penguin as we continue to pursue innovations in the commercial insurance process," said Bill Kampf, General Manager at Progressive. "With our latest offering, BusinessQuote Explorer ® , we help make the process of selecting coverages and getting an accurate quote fast and easy so small business owners can get back to what matters most – running their business."

About Bold Penguin

Bold Penguin is where technology enhances the human touch in commercial insurance. With a 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. Learn more at www.boldpenguin.com.

CONTACT: Lauren D'Souza, [email protected]

SOURCE Bold Penguin