COLUMBUS, OH (December 30, 2024) — Leading commercial insurance distribution platform, Bold Penguin, announced that Peter Settel will become their new President and Chief Executive Officer. Settel brings over twenty-five years of experience in US-based property and casualty markets, with impact through technology, strategy, and innovation driving market expansion and profitable growth. 

“There is a tangible excitement within Bold Penguin for our mission to simplify and transform commercial insurance. I am honored to lead this team and excited for the road ahead — to increase shared value for our partners, agents, and customers,” stated Settel. “Bold Penguin has been an industry pioneer with digital technology, data, and AI. We will invest and build on this, through this critical technology and industry cycle — and grow with our teams, and with our partners.”

Bold Penguin’s market-leading integrated platform, including the Terminal, the Exchange, Storefront, and Analytics, bolsters the bottom line for all commercial insurance industry stakeholders and helps protect the businesses they serve. Under Settel’s guidance, the Bold Penguin team will look to extend its existing relationships and expand its offerings through new strategic partnerships.

Settel succeeds outgoing CEO and founder, Ilya Bodner. Bodner and outgoing Chief Data Officer and co-founder, Ben Clarke, will both serve as strategic advisors. “We are thrilled to have Peter join Bold Penguin as CEO,” says Bodner. “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. We are excited to support him as he begins the CEO role and look forward to continuing our relationship with him and Bold Penguin in this next phase of growth.”

Peter Settel is a business and technology leader with a proven track record of technology-led growth. From start-ups to Fortune 250 enterprise-scale companies, Peter describes his career as one connected and continuous journey. Prior to Bold Penguin, he was the Enterprise Chief Strategy and Technology Officer at American Family Insurance, and served as a member of the senior leadership team that oversaw the transformation of their capabilities and strengthened its customer-driven strategy. Before that, as EVP and CIO, he was among a handful of senior executives who led Homesite Insurance from its inception to the multibillion-dollar property insurer it is today. Peter spent his early career at Cambridge Technology Partners and was co-founder of MediaLink Interactive. Settel holds a Bachelor of Science degree in Finance from Babson College.

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About Bold Penguin

Bold Penguin is a leading integrated digital solution platform dedicated to simplifying commercial insurance. Our technology makes the quote and bind process quick, effortless, and profitable for all parties - agents, brokers, and carriers. Bold Penguin’s innovative product suite has digitized and transformed a slow, manual process resulting in reduced costs, increased efficiency, and better overall outcomes. For more information, please visit www.boldpenguin.com or follow us socially on LinkedIn, Facebook, and X. 

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