Bold Penguin’s integration with Coterie Insurance adds Coterie’s digital insurance for small businesses to the Bold Penguin digital exchange used by insurance agents, brokers, and other distributors to match, quote, and issue policies.
Coterie Insurance today announced a new partnership with Bold Penguin, a commercial insurance technology provider focusing on the small business quote and bind experience. This partnership further enhances the digital expansion of Coterie’s insurance products including general liability, professional liability, and business owners’ policy for small businesses through the Bold Penguin Exchange.
“This partnership strengthens the Bold Penguin platform’s selection of business coverage while also expanding the reach of Coterie’s digital small business insurance,” said Ray Lynch, VP of digital agent and broker distribution. “Coterie Insurance and Bold Penguin share a common goal of streamlining small commercial insurance, and Bold Penguin’s innovative technology platform helps us achieve that.”
“The fact that we were able to seamlessly integrate Coterie Insurance into Bold Penguin’s digital exchange speaks to our mutual determination to simplify the quote and bind experience for agents. We are thrilled to grow our product offering for agents through this partnership with Coterie,” said Karnina Szymanski, President of Insurance at Bold Penguin.
What is Bold Penguin?
Bold Penguin operates the world’s largest commercial insurance Exchange. The company connects businesses, agents, and carriers in a digital platform, reducing the quote-to-bind time by close to 92%. Bold Penguin selectively adds carriers to the Exchange to ensure users can access a comprehensive selection of options to meet their customers’ coverage needs. In addition to integrating carriers, Bold Penguin offers its technology to a variety of distribution users who are looking to build storefronts, offer multi-product and multi-carrier experiences to its small business end customers, and overall have a more streamlined quoting experience.
How does this integration benefit independent agents & brokers?
In addition to real-time quoting, Coterie provides the latest in policy management technology including instant access to policy documents, insurance certificates, renewals, billing, and claims.
Coterie’s simple and easy-to-use APIs integrate with leading insurance Bold Penguin to simplify small business insurance by:
- Totally digital upfront underwriting (via Coterie)
- Data delivers instant, simple, and bindable quotes
- Simplified application allows agents to extend quoting digitally to their customers
- New innovations and features developed and rolled out by both Coterie and Bold Penguin
With both Coterie’s tech-based approach to insurance offerings, and Bold Penguin’s efficient single-entry quoting process, quote time is further reduced for independent agents, allowing policies to be issued for General Liability Insurance or Business Owners Policies faster than ever.
With Coterie Insurance’ss future roadmap plans to integrate further into Bold Penguin’s marketplace, agents can expect more tech enhancements to follow. The Bold Penguin-Coterie partnership will put real-time product recommendations, target classes, underwriting eligibility, and marketing information in the hands of Coterie’s agents faster than ever before.