Delivering More Efficiency In The Back Office
Our Q&A with TechCompanyNews.com
Founded by a group of entrepreneurs who spent their early days working with Allstate, Nationwide, Progressive, regional carriers and established insurance agencies, Bold Penguin is an insurtech portal provider delivering a more streamlined insurance experience via an online marketplace for commercial lines property and casualty (P&C) agents. Put another way, Bold Penguin is where technology meets the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin pushes the boundaries of user experience for businesses, is an easy tool for agents, and offers a streamlined process of underwriting for carriers. Below is our interview with Ilya Bodner, CEO & Founder of Bold Penguin.
Q: Bold Penguin recently expanded its Partnership with INGUARD; could you tell us something more?
A: In ramping up a new client, it was important to prove that we can inject the Bold Penguin offering into a client’s daily flow without interruption or training, and INGUARD was already looking for ways to take time, cost and complexity out of the commercial insurance process. Bold Penguin was at first rolled out on a limited basis to test success, and things went well. We started small, focusing first on a handful of states and only a few producers from INGUARD’s office. INGUARD’s producers took to the Bold Penguin platform right away. We were able to send data straight into the company’s CRM system, and receive the dispositions back on a consistent basis. With more time to spend proactively, INGUARD’s agents were soon handling multiple inbound quotes a day. And, since the Bold Penguin system quickly learned what INGUARD’s agents are good at working/closing and where inefficiencies existed, we drastically reduced the number of applications which were not a good fit. The expansion is what we are working on right now. INGUARD has rolled Bold Penguin out to their entire agency, and brought on a key person to oversee our initiative together. They also picked a new CRM tool which was easier for us to integrate with, which makes syncing data easier to do on a real-time basis.
Q: Can you give us more insights into your technology?
A: The Bold Penguin agent portal is our flagship product. There are several features that make sense for agents, agencies, brokers, MGAs, insurance carriers, and others in the commercial insurance space. The best way to get under the hood and learn about our tech is to sit in on a demo.
Q: What makes Bold Penguin a good choice?
A: We’re all about the agent, the trusted advisor. Everything we do is to help the agent be more efficient, be faster, be smoother in terms of completing day-to-day tasks. We are building tools for agents because at the end of the day insurance is a relationship business and agents are the industry’s best link to the customer.
Q: What are your plans for next six months?
A: In the next six months, Bold Penguin is focusing on onboarding key agency partners while continuing to build out new features and functionality in our agent portal with the objective of smoothing out the underwriting process.