Encova Insurance and Bold Penguin Expand Partnership and Distribution Capabilities

Encova strengthens its digital capabilities by offering more solutions within Bold Penguin's technology

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Jan 07, 2021, 09:00 ET

COLUMBUS, Ohio, Jan. 7, 2021 /PRNewswire/ -- Bold Penguin, a rapidly growing insurance technology provider, announces today that it has begun rolling out a digital commercial insurance solution in collaboration with Encova Insurance. Encova joins other regional and national key insurance companies to offer a quoting experience for business owners' policies for its independent agents.

As the small business space across the United States continues to move to digital, the need for accurate, efficient access to commercial insurance has increased. Small businesses and insurance agents alike benefit from expanded digital quoting capabilities that are powered by Bold Penguin's technology.

"Independent agents and businesses alike need a solution for quick, easy to use, accurate software when it comes to quoting small commercial opportunities. Encova has proven to be one of the more advanced organizations and we are happy to work together," said Marc DeLeonibus, Co-founder of Bold Penguin. "Our partnership with Encova is the latest example of how large insurance companies are being nimble and meeting their agency force in a more digital way."

Encova and Bold Penguin announced their partnership in 2018. Since then, the two organizations have been working closely on picking the right industries, products, and key agents to approach small commercial. The newly announced work streamlines the rate, quote and bind process and allows select Encova agencies to access their products.

"We're committed to creating the user experience our small business customers and our agents expect," Encova Executive Vice President, Commercial Lines and Life, Grady Campbell said. "Partnering with Bold Penguin allows us to execute this vision quickly and efficiently, allowing more small businesses to access the coverage they need to grow their businesses."

Bold Penguin continues its growth by offering access to its Exchange to brokers, agents, insurtechs, and select key partners who specialize in handling small business insurance. Since the initial launch of its platform, Bold Penguin has helped handle more than 2 million quote starts. The company has processed applications across all major lines of commercial coverage, including excess and surplus (E&S) and commercial auto by assisting a growing list of distribution and carrier partners.

About Encova Insurance.

A super-regional carrier ranked in the top 20 mutual insurance companies in the United States, Encova includes more than 1,200 associates writing in 28 states and the District of Columbia, premiums in excess of $1 billion, a surplus in excess of $1.65 billion and assets in excess of $4.3 billion. The group markets insurance solutions through more than 2,000 independent agencies in the Midwest, Northeast and South.

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. Bold Penguin was founded in 2016 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.

CONTACT: Amber Wuollet, Director of Marketing, [email protected]

SOURCE Bold Penguin