Bold Penguin extends partnership with Mylo

Bold Penguin, an InsurTech100 company, has extended its partnership with digital broker Mylo to improve personalised insurance recommendations.

The companies have expanded their partnership via a simplified quoting interface that gives small business owners with an enhanced customer experience and faster quoting of personalised insurance recommendation.

The two InsurTechs have built upon their existing partnership, which began two years ago.

Mylo CEO David Embry said, “Our goal is to recommend the best coverage and carrier for each small business owner based on their unique circumstances.

“Expanding our partnership with Bold Penguin enables us to leverage technology that supercharges our brokerage and creates efficiencies our agents need to provide a great quoting experience.”

The partnership sees Mylo leverage Bold Penguin’s exchange service, which recently surpassed one million small business quoting experiences. It also deploys the multi-product quoting experience, which finds the best products for users.

Bold Penguin is a commercial insurance exchange which connects businesses, agents and carriers to the right quote. Its platform gives a single location for brokers to triage risks, access real-time rates from participating carriers and rand carrier partners based on customizable algorithms.

Mylo is a digital insurance agency which makes it easy for businesses and individuals to compare and purchase top-rated insurance products.

Bold Penguin founder and CEO Ilya Bodner said, “We’ve seen the obstacles large brokerages face when quoting small commercial. Some of them are tech and others are financial in nature.

“Today we’re able to help solve for both through a technology solution that addresses the centralization and ease of use challenges.  We’re just happy to have such a great partner, a fantastic carrier panel that continues to expand their capabilities, and a joint team that brings forward solutions that ease the experience of getting an insurance quote for the agents, businesses and carriers in the mix.”

Bold Penguin was recently named in the InsurTech100, a list of the most innovative companies in the industry.

The InsurTech recently acquired xagent, a multi-quote platform for standard and surplus lines business insurance, and plans to make additional announcements throughout the year.

Copyright © 2020 FinTech Global

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