Bold Penguin Announces Partnership with Hiscox International
Staff Writer | June 14, 2017
Bold Penguin, an insurtech portal provider delivering a more streamlined insurance experience via an online marketplace for commercial lines P&C agents, announces a partnership with Hiscox International, the U.S. arm of the global specialty insurer, Hiscox.
With U.S. headquarters in New York, Hiscox International operates in all U.S. states and the District of Columbia, and offers a range of specialty insurance products through U.S.-based brokers, as well as directly online to small businesses. Via this partnership and integration, agents using Bold Penguin’s online marketplace will gain access to real-time pricing for the risks already coming through the portal, which enables agents to be able to write more business more profitably.
“The insurtech industry is continuing to grow exponentially and there is a tremendous opportunity for insurance agents to better serve clients, who are already accustomed to operating in a digital world,” says Kevin Kerridge, Hiscox’s executive vice president of small business insurance. “We value partnerships with companies like Bold Penguin and look forward to working together.”
Commercial P&C insurance has become fiercely competitive due in part to emerging technologies, which aggregate data and streamline the process of underwriting risk. Bold Penguin’s portal for P&C commercial lines agents originates, evaluates, and places new and renewing business faster, smoother and simpler than possible manually. Agents using the Bold Penguin portal see more of the right business in an online marketplace, spend less time going back and forth with insurance companies, and achieve better speed-to-market by automating much of the underwriting process with insurers.
“Today’s commercial lines agent is a trusted advisor and is absolutely here to stay,” said Ilya Bodner, founder and CEO of Bold Penguin. “Everything we build puts another tool in the agent’s tool belt. Hiscox International is a world-class partner focused on the modern-day business owner and committed to delivering a superior insurance experience for agents, insureds and partners. This promises to be a very productive relationship which will help everyone in the commercial lines insurance value chain keep up with consumer demand going forward.”
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