Q: Can you tell us about your role as the VP of Partnerships at Bold Penguin and how it revolves around fostering collaborations via channel partnerships to benefit small businesses?

A: Bold Penguin is a forward-thinking insurance technology company making business insurance simple and intuitive for insurance companies, insurance agents and small businesses. Our Partnerships team leads our channel partnerships’ efforts as we bring our powerful digital solutions and commercial insurance services to adjacent industries through channel partnerships (think: banks, home services, payment/accounting platforms etc.) within the small business space. Our number one priority is to identify and launch win-win partnerships with channel partners that can ultimately benefit both their small commercial customers as well as insurance agencies and carriers within the Bold Penguin ecosystem.

Q: Can you walk us through the process of identifying partnerships with channel partners and assessing how Bold Penguin can collaborate with them to contribute to the commercial insurance services needs of small businesses?

A: For channel partners, our goal is to help them build stronger and more durable relationships with their customers by introducing small commercial insurance services as a value-added product that creates additional customer loyalty and extends relationship value. Bold Penguin has powered over 5M small business quote applications (to date), helping them get access to insurance. We have lots of data that enables us to identify potential channel partners in industries where insurance is relevant and top of mind for small business customers as well as the channel partner. We have a well-defined internal process that allows us to guide the Channel Partner as we conceptualize and bring the partnership to life.

Q: Building partnerships often requires aligning different business objectives. How do you navigate potential challenges and ensure that both parties find value in these collaborations?

A: Mutual alignment for these types of channel partnerships is a critical success factor and something that is top of mind as we go through discovery and business meetings, and scope out partner program requirements and delivery. With that in mind, our North Star is value creation for the channel partners and ultimately their small business customers. The entire partnership concept and execution revolves around that value creation focus. At the end of the day, creating value for small businesses by offering a unique, intuitive, and efficient commercial insurance service experience is what will help us build sustainable ongoing channel partnerships at scale.

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