bolttech, an AI-led InsurTech operating across 39 markets, and Bold Penguin, a commercial lines digital exchange and carrier distribution network, have agreed a global strategic partnership to combine their insurance distribution capabilities.
The companies will develop a joint commercial and personal lines proposition for agents, insurers and embedded insurance partners across the US, Europe and Asia.
The partnership brings together two distinct positions in the insurance distribution value chain. Bold Penguin contributes its commercial lines digital exchange, data and AI services delivered through DeX ai, and an integrated network of commercial carriers.
bolttech adds access to personal and commercial lines products, AI-enabled workflows and international insurance distribution capabilities. The combined proposition is designed to give customers access to both lines through a more connected digital experience.
The companies said the partnership will help accelerate their respective product roadmaps while allowing each business to focus on its existing areas of expertise. Customers will be able to access the combined connections and functionality of both platforms.
A near-term outcome will see Bold Penguin’s US customers gain access to bolt’s personal lines solutions through a single interface. The arrangement also supports Bold Penguin’s plans to expand internationally.
bolttech describes its mission as building a technology-driven ecosystem for protection and insurance by connecting insurers, distributors and customers. The company operates across Asia, Europe, North America and Africa, with its North American business operating under the bolt brand.
Bold Penguin focuses exclusively on commercial lines. Its digital platform is designed to streamline quoting and binding for agents, brokers and carriers, replacing traditionally manual processes with digital workflows.
bolttech group chief executive officer Rob Schimek said, “Bold Penguin is the leading commercial insurance distribution platform. Their submission automation, AI-powered underwriting workflows and commercial orchestration platform complement our technology capabilities, personal lines expertise, and insurance ecosystem globally. Together, we can deliver a more seamless, connected insurance experience for distribution partners and customers around the world.”
Bold Penguin president and CEO Peter B Settel also commented, “We have great awareness and respect for bolttech’s mission to address the global protection gap. The work Rob and team have done leading in embedded distribution and building the most globally scaled insurtech make them the perfect partner for us to join with and offer our shared customers truly unique options and solutions. While we expand globally, we will also now offer Bold Penguin’s US customers bolt’s personal lines solutions through a single interface.”
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