Insurtech Bold Penguin expands commercial insurance exchange

Bold Penguin, a commercial insurance technology provider, has added commercial auto to its insurance exchange platform.

The Ohio-based company said that it will allow users to quote auto insurance alongside other types of coverage, including general liability, business owners policy (BOP), professional liability and workers compensation.

Bold Penguin claims that its technology allows agents to quote and bind policies for small and medium-sized businesses three times faster than the traditional process.

The company is planning to further expand the commercial auto options and continue its expansion into the excess and surplus (E&S) lines.

"We are excited to go live with commercial auto which was in high demand from our existing broker partners," said Ilya Bodner, founder and CEO of Bold Penguin. "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."

Nationwide property & casualty president and COO Mark Berven, said: "Nationwide is proud to have spent the last 90 years empowering and protecting small business owners. Integrating Commercial Auto into our Commercial Digital Storefront tool with Bold Penguin allows us to continue to support small business owners with an efficient, user-friendly experience."