The collaboration is a strategic move that addresses the growing demand for excess and surplus coverage
COLUMBUS, OH (July 16 , 2024) – Digital solution platform, Bold Penguin, announced the addition of certain capacity offered through RT Specialty, a leading wholesale distributor of commercial excess and surplus (E&S) insurance products and services, to their Terminal carrier panel.
Through RT Connector, RT Specialty’s proprietary digital marketplace for E&S, agents utilizing the Bold Penguin Terminal quote platform will now have additional commercial insurance policy coverage options that fill the evolving needs of business owners. Across the industry, E&S submissions have increased by double-digits in the past year. The collaboration between RT Specialty and Bold Penguin is a strategic move that addresses this growing demand for E&S insurance by providing agents with enhanced tools and resources to better serve their clients. This collaboration not only improves operational efficiency for agents but also ensures that business owners have access to the specialized coverage they need in an increasingly complex risk environment. Through these innovative solutions, both companies strengthen their market positions and contribute to the overall resilience and adaptability of the commercial insurance industry.
Founded in 2016 by insurance agents for insurance agents, Bold Penguin is on a mission to simplify commercial insurance for carriers and agents. With the Bold Penguin Terminal, agents can access the best coverage in the admitted and non-admitted markets in minutes instead of hours or days, increasing their efficiency and streamlining their workflow.
“Our team received strong feedback from our customer base on the importance of integrating RT Specialty, and we are thrilled to share the exciting news that this has come to fruition. Our agents can now receive online quotes for standard and E&S lines through the Bold Penguin Terminal in just minutes,” said Nicole Farley, Bold Penguin’s Vice President of Carrier Operations.
With access to an extensive array of highly rated carriers, RT Specialty can provide access to insurance for several thousand business classifications. They offer access to commercial insurance policy coverage in six product verticals, in all 50 states and the District of Columbia, with up to $2.5M in limits. Their general liability, property, and commercial insurance policy package offerings specialize in artisan contractors, healthcare and social services, real estate, transportation and warehousing, and retail.
“At RT Connector, we are constantly looking to innovate and adapt to market needs. This collaboration allows us to do that by providing a platform to distribute our products and expertise through an automated digital channel. Bold Penguin understands the insurance space as much as they do technology, which is hugely important, underpinned by an entrepreneurial spirit and urgency that mirrors the culture at RT – we couldn’t ask for a better business opportunity,” says Will Jacob, Chief Underwriting Officer at The Connector by RT Specialty. “This collaboration enables us to meet our customers where they want to be met, providing them another access point to our E&S solutions and continuing to help them drive efficiencies in how small accounts are placed.”
Bold Penguin has powered over 6 million quote applications and $6 billion+ in premium since 2016. They work with dozens of national, regional, and specialty carriers, offering 12 coverage lines plus E&S to help agents find the right coverage for their customers.
RT Connector is RT Specialty’s Proprietary Digital Marketplace for Commercial E&S Business. The coverage process is streamlined, top-rated market access is multiplied, and robust third-party tools are harnessed – empowering RT Specialty contracted retail agents to do their best work without sacrificing due diligence, time or profitability.
Bold Penguin is a leading integrated digital solution platform dedicated to simplifying commercial insurance. Their 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.
Bold Penguin’s solutions can help commercial insurance agents, brokers, carriers, and channel partners through an integrated product suite, including the Terminal, Exchange, Storefront, and Analytics.
Contact Bold Penguin with questions about the Terminal, channel partnerships, or other ways to work together.
Members of the press may contact: Heidi Ames, Bold Penguin Communications Manager at press@boldpenguin.com with questions and requests.
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