Commercial insurance exchange Bold Penguin has integrated the Thimble API into its platform to improve bindable quotes for customers in 48 US states.
The integration comes as part of a new partnership between the two InsurTechs.
Thimble will provide Bold Penguin’s exchange with bindable quotes, which include monthly and hourly options for businesses and the ability to change, pause and cancel policies instantly. Its coverage options are designed for businesses of all sizes.
The companies stated that as small businesses formations grow, they need more flexible insurance. This is where the new partnership will help.
Bold Penguin and Thimble have leveraged the flexible API to supply instant insurance quotes to small businesses and meet their needs.
Thimble hopes this partnership will help “improve the connection between carriers, agents, and the businesses we support.”
Bold Penguin COO Jim Struntz said, “Small businesses have faced many challenges this past year, and many agents are looking at new commercial insurance options. We know from a surge in quote starts on the Bold Penguin Exchange, that many are shopping around.
“Thimble offers a unique insurance option for the agents seeking convenience and flexibility for small businesses. We look forward to including Thimble on the Bold Penguin Exchange.”
Thimble insurance policies are underwritten by Markel Insurance Company.
Bold Penguin has formed a handful of partnerships over the past year. The InsurTech previously extended a deal with digital broker Mylo to improve customer experiences and accelerate quoting.
Copyright © 2021 FinTech Global
