The Cambridge-based online insurance platform joins the growing list of companies integrating with the Columbus-based start-up
Another insurtech enters the commercial lines marketplace this month. Cambridge-based online insurance platform Everquote has partnered with Bold Penguin to launch a new commercial lines marketplace.
“We admire the technology and data platform that Bold Penguin has built to solve the biggest challenge in commercial lines insurance distribution today. We have great respect for Ilya, Ben and their team, and believe that working together we will have a larger impact on the commercial insurance landscape,” said Seth Birnbaum, CEO of EverQuote.”
By leveraging the Bold Penguin terminal and exchange infrastructure, Everquote says it can enter into the online commercial lines marketplace and “rapidly accelerate its path to market, while growing the market for online commercial insurance shoppers and providers.”
“Bold Penguin was designed to be an enablement platform and EverQuote’s ability to utilize the technology and execute has been exceptional,” says Ilya Bodner Founder and CEO of Bold Penguin. “We’re happy to power another initiative and work together to remove the inefficiencies in commercial insurance,” Bodner added.
Both Bold Penguin and Everquote acknowledged that by leveraging the unique assets and expertise of each company, they will be able to accomplish their shared goals of making insurance simpler and more efficient.
Bold Pengiun’s Growing List of Integrations
2019 has been a year of growth for the Columbus-based insurtech, Bold Penguin. After securing of approximately $32 million at the close of its Series B funding round, the company has also announced a number of interesting integrations and partnerships. In addition to joining forces with Everquote, the start-up also announced in July of 2019, that it would be powering Nationwide insurance’s new platform for commercial insurance. While in May of this year, it joined forces with fellow Ohio-based company Progressive, to power that insurer’s commercial lines platform as well.