Encova Insurance has expanded its partnership with insurance technology provider Bold Penguin to roll out a digital commercial insurance solution.
This new solution is designed to streamlines the rate, quote and bind process and allows select Encova agencies to access their products.
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It is said to enhance the quoting experience for business owners’ policies for the insurer’s independent agents.
As the small business space across the US continues to move to digital, the need for accurate, efficient access to commercial insurance has increased, the companies noted.
Bold Penguin co-founder Marc DeLeonibus said: “Independent agents and businesses alike need a solution for quick, easy to use, accurate software when it comes to quoting small commercial opportunities. Encova has proven to be one of the more advanced organizations and we are happy to work together.”
Founded in 2016, Bold Penguin focuses on enhancing user experience for businesses, while creating easy tools for agents, and streamlined underwriting process for carriers.
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By GlobalDataEncova and Bold Penguin, which first partnered in 2018, have been collaborating on picking the right industries, products, and key agents to approach small commercial business segment.
Commenting on the development, Encova Executive Vice President, Commercial Lines and Life, Grady Campbell said: “Partnering with Bold Penguin allows us to execute this vision quickly and efficiently, allowing more small businesses to access the coverage they need to grow their businesses.”
Last October, Bold Penguin agreed to buy RiskGenius, which provides insurance document intelligence software.
The acquisition is expected to bolster Bold Penguin’s existing SaaS platform with the addition of RiskGenius’s data and analytics solution as well as its team.
