Bold Penguin, a commercial insurance technology developer, has released a new auto insurance service to its platform.
Its new capabilities support business-use auto insurance to be quoted alongside other types of cover in a bundled fashion and through a single application.
Agents can use Bold Penguin to quickly quote and bind policies for small and medium businesses. The company streamlines the quoting experience for general liability, business owner’s policy (BOP), professional liability and workers compensation.
Brokers can use the platform to triage risks, access real-time rates from participating carriers and rand carrier partners based on customizable algorithms.
Bold Penguin founder and CEO Ilya Bodner said, “We are excited to go live with commercial auto which was in high demand from our existing broker partners.
“This is a significant enhancement to our platform, which now allows for other lines such as general liability and workers comp to be quoted alongside business auto through a single, uniform, tightened up application flow. Following this announcement, we will be expanding commercial auto options and continuing our expansion into E&S.”
The InsurTech recently acquired xagent, a multi-quote platform for standard and surplus lines business insurance. The value of the deal was not disclosed.
Bold Penguin hopes the acquisition will help it to improve services for insurance carriers, brokers and agents.
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