Insurance Veteran Lou Geremia Joins Bold Penguin as Chief Revenue Officer
Staff Writer | December 07, 2017
Bold Penguin is pleased to announce Lou Geremia, an industry veteran with more than 15 years leading some of the largest online insurance organizations, including Insurance.com, Bankrate Insurance, and Goji, has joined the company as chief revenue officer (CRO).
While much of Geremia’s career has been spent in personal lines property and casualty (P&C) insurance, most recently, he led Internet Insurance Group (IIG), a national, commercial lines agency focused on selling small businesses coverage. Today, he regularly shares his industry expertise as an advisor to startup and growth companies in the emerging InsurTech space.
“Given the high volume of business IIG’s agents processed daily, we needed a technology platform that enabled rapid quoting, binding, and issuance of new policies,” said Geremia. “As co-founder and CEO, I was continuously evaluating partner and vendor relationships. Bold Penguin delivered excellent results for our operation, and our agency was additionally able to send business that we couldn’t write to the Bold Penguin marketplace for monetization.”
Based in Boston, Geremia’s focus in 2018 will be expanding the number of insurance company partners participating in the Bold Penguin online marketplace and enhancing the company’s recommendation engine by identifying and recruiting key partners. In addition to building a strong East Coast presence for Bold Penguin, Geremia will also work closely with the company’s technology team to help manage the process of bringing new partners onto the platform.
“Lou’s extensive personal and commercial lines experience, as well as his leadership running high-growth InsurTech companies, will provide enormous value to the Bold Penguin team, as well as our customers,” said Ilya Bodner, founder and CEO of Bold Penguin.
Since launching in 2016 during the InsureTech Connect Conference, the company’s customer base has grown rapidly with firms like Hiscox and INGUARD processing significant business on the platform. Bold Penguin’s platform uses flexible APIs and a newly-announced rules engine, Emperor, to help agents go from consideration to quote and bind in a matter of minutes, hours, or days, instead of weeks or months. Bold Penguin’s online marketplace transforms the way commercial lines agents and insurers work together, making it easier to find appropriate business, achieve better speed-to-market by automating much of the underwriting process, and close business faster using a rapid response process.
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