Bold Penguin, Inc.

Bold Penguin, Inc. provides advanced insurance technology solutions that simplify and expedite the commercial insurance process for agents, brokers, and carriers, enhancing efficiency in insurance transactions. Founded in 2016 and headquartered in Columbus, US, Bold Penguin specializes in insurance technology solutions. The company was co-founded by Benjamin Clarke, Ilya Bodner, and Marc DeLeonibus.

In January 2021, American Family Insurance acquired Bold Penguin for an undisclosed amount. Bold Penguin has completed a total of 7 deals, with its most recent funding being a Series B round in January 2021, raising USD 32. 00 mn from investors including Guggenheim Life and Annuity Company, Hudson Structured Capital Management, and others. The company currently holds a valuation of USD 187.

98 mn. Bold Penguin specializes in insurance technology and quoting software designed to streamline the commercial insurance process. The company offers a comprehensive suite of integrated products, including the Terminal, Exchange, Storefront, and Analytics, enhancing speed and efficiency in insurance transactions. The Terminal allows agents to quote and bind coverage rapidly using a universal quoting application, while the Exchange serves as a marketplace for small commercial insurance agents, enabling them to find new leads and monetize out-of-appetite risks.

The Storefront provides agencies with a branded online presence for managing digital quotes, catering to small and medium-sized businesses (SMBs) around the clock. Analytics solutions utilize artificial intelligence to enrich data from submission documents, thereby improving underwriting processes. Bold Penguin primarily serves independent agents, brokers, carriers, and managing general agents (MGAs) across the United States and other targeted markets. Bold Penguin generates revenue through a structured model centered on partnerships with agents, brokers, and carriers.

The company offers various subscription-based services for its flagship products, which include the Terminal and Exchange. These services facilitate B2B transactions, allowing insurance agents to provide rapid quotes and bind coverage directly to their clients. The pricing structure for these services typically involves a subscription fee, granting access to the suite of tools necessary for agents to enhance their operational efficiency and revenue generation. Furthermore, the Exchange allows agents to access high-quality leads, contributing to their business growth and potential revenue increases.

This transactional model fosters a collaborative environment among stakeholders, ensuring agents can meet the evolving needs of SMBs effectively. Bold Penguin is focused on future growth through the development of new products and expansion into new markets. The company aims to enhance its product suite and release updates that will further streamline operations for agents and brokers. Following the recent acquisition by American Family Insurance in January 2021, Bold Penguin plans to leverage its resources for expansion into additional geographic regions and markets, although specific target areas have not been disclosed.