InsurTech 100 company Bold Penguin acquires Xagent

InsurTech 100 company Bold Penguin acquires Xagent

Bold Penguin, an InsurTech 100 company, has acquired xagent, a multi-quote platform for standard and surplus lines business insurance.

The Reinventing Finance Podcast – Episode 10 with Chris Cheatham, VP of Product at Bold Penguin

Chris Cheatham – the Luke Skywalker of Insurance Policies – is the Vice President of Product at Bold Penguin, where he helps lead the Insurance Intelligence division. He has been working in insurance since 2006 and founded the Insurtech RiskGenius, which was acquired by Bold Penguin in 2020, and which was bought by American Family earlier this year.

Chris discussed the following topics with us in this episode:

➡️ How did the name “Luke Skywalker of Insurance Policies” come to be?

➡️ Which problem does Bold Penguin solve and what is the business model?

➡️ How has Covid impacted your business model?

➡️ American Family acquiring Bold Penguin: Did you find any pushback from commercial carriers?

➡️ What thesis do you have on the SME insurance market?

➡️ If you were to get a job for a commercial carrier in charge of SME for growth, what would you do and what would be the next steps you would take?

➡️ What is your view on the capabilities of carriers at this moment?

➡️ In your conversations with insurance executives, do you see that there is a switch in their mentality and a FOMO in terms of going digital and not waiting on the sidelines?

Small Business, Big Ideas S1:E4 – Evolution of Insurtech: Bold Penguin

Jim Struntz, Chief Operating Officer of Bold Penguin, joins CNA’s Albert Clark and Steve Marohn to discuss the continuing evolution of insurtech.

A Brief Interview w/ Amber Wuollet, Director of Marketing at Bold Penguin

In this brief interview, Amber and Nick discussed Bold Penguin’s new agency platform initiative. Bold Penguin’s mission is to make it easier for the agent/broker to be able to quickly and painlessly place business into the insurance ecosystem. Amber discusses the how easy it is, using AI (powered by penguins) to examine text wording to classify business and alleviate brokers from needing to understand mundane underwriting aspects of the exposure such as class codes. This way agents and brokers can focus on growing their business and protecting their customers by making sure the exposure is being protecting by the right carrier, in the right way. We also discussed a new initiative with which allows startups to quickly find an agent and the right insurance right from the website.

This interview was conducted at the Hartford Insurtech Symposium

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