bolttech, a global InsurTech specialising in AI-led insurance distribution, and Bold Penguin, a commercial lines digital exchange and distribution network, have formed a global strategic partnership to combine their insurance distribution capabilities.
The partnership will create a combined commercial and personal lines proposition for agents, insurers and embedded partners across the US, Europe and Asia.
Bold Penguin will contribute its commercial lines digital exchange, data and AI services delivered through DeX ai, and an integrated network of commercial carriers. bolttech will bring access to insurance and protection products across commercial and personal lines, alongside AI-enabled workflows and experience distributing insurance internationally.
The companies expect the partnership to accelerate their respective product roadmaps while allowing each business to focus on its core capabilities. Customers will gain access to the connections and functionality of both platforms through a single digital experience.
As part of the agreement, Bold Penguin’s US customers will be able to access bolt’s personal lines solutions through a single interface. The move supports Bold Penguin’s plans to expand its distribution capabilities internationally while giving bolttech a route into a broader commercial insurance network.
bolttech operates across 39 markets spanning Asia, Europe, North America and Africa. The company aims to build a technology-driven ecosystem for protection and insurance by connecting insurers, distributors and customers and simplifying the buying and selling of insurance.
In North America, bolttech operates under the bolt brand. Bold Penguin focuses on commercial lines and provides a digital platform designed to streamline quoting and binding for agents, brokers and carriers. Its technology replaces manual processes with digital tools intended to reduce costs and improve efficiency.
bolttech group chief executive officer Rob Schimek said, “Bold Penguin is the leading commercial insurance distribution platform. Their submission automation, AI-powered underwriting workflows and commercial orchestration platform complement our technology capabilities, personal lines expertise, and insurance ecosystem globally. Together, we can deliver a more seamless, connected insurance experience for distribution partners and customers around the world.”
Bold Penguin president and CEO Peter B Settel said, “We have great awareness and respect for bolttech’s mission to address the global protection gap. The work Rob and team have done leading in embedded distribution and building the most globally scaled insurtech make them the perfect partner for us to join with and offer our shared customers truly unique options and solutions. While we expand globally, we will also now offer Bold Penguin’s US customers bolt’s personal lines solutions through a single interface.”
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