Bold Penguin, a leading commercial insurance distribution platform, has appointed Peter Settel as its new chief executive officer (CEO) and president.
Settel, who has over 25 years of experience in property and casualty insurance markets, will guide the company through its next phase of innovation and growth.
Headquartered in the US, the firm is renowned for its digital technology and AI-driven tools that simplify and transform commercial insurance distribution.
Its integrated platform, which includes products like the Terminal, the Exchange, Storefront, and Analytics, aims to enhance the operational efficiency and profitability of its partners, agents, and customers.
Settel brings a wealth of experience to Bold Penguin, having previously served as enterprise chief strategy and technology officer at American Family Insurance.
In this role, he was instrumental in transforming the company’s capabilities and advancing its customer-focused strategy.
He was also executive vice president and CIO at Homesite Insurance, where he played a pivotal role in growing the company into a multibillion-dollar property insurer. He holds a Bachelor of Science degree in finance from Babson College.
Settel succeeds founder Ilya Bodner, who served as CEO, and co-founder Ben Clarke, who was the company’s chief data officer.
Both Bodner and Clarke will transition to strategic advisor roles. The company emphasised that Settel’s long-standing relationship with Bold Penguin makes him uniquely suited to lead its next chapter.
Commenting on his new role, Peter Settel said, “There is a tangible excitement within Bold Penguin for our mission to simplify and transform commercial insurance. I am honoured to lead this team and excited for the road ahead — to increase shared value for our partners, agents, and customers.”
Ilya Bodner, Bold Penguin’s founder, said, “We are thrilled to have Peter join Bold Penguin as CEO. This is a great step at a great time. Working closely with Peter as a key partner to Bold Penguin over the past couple of years, it became clear that he shares our vision for an even greater company.”
Under Settel’s leadership, Bold Penguin plans to strengthen existing relationships and explore new strategic partnerships to expand its offerings in the commercial insurance sector.
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