Agents will now have additional coverage options that fill the unique, evolving needs of small business owners
COLUMBUS, OH (September 26 , 2023) – Bold Penguin has partnered with NEXT Insurance, a leading technology-first small business insurer, to enhance small business coverage options on the Bold Penguin Terminal. Founded in 2016 by insurance agents for insurance agents, Bold Penguin is on a mission to simplify small commercial insurance for carriers and agents. Through this partnership, Bold Penguin users will gain access to NEXT’s General Liability and Professional Liability products. This relationship also provides access to agents seeking additional markets, allowing them the opportunity to get a NEXT sub-appointment quickly through Bold Penguin, resulting in more quote opportunities.
With the integrated Bold Penguin product suite, agents can increase productivity and efficiency by eliminating the need for double data entry in the Bold Penguin Terminal.
“Our partnership with NEXT Insurance was a natural fit from the beginning. Our mutual goals of empowering small business owners, and the agents that serve them, is a win-win for all parties. Expanded coverage options will be an invaluable resource for our users, especially in regard to quoting and binding in current hardening market trends, and beyond,” said Nicole Farley, Bold Penguin’s Vice President of Carrier Operations.
According to a recent U.S. Census Bureau study, over 5 million Americans submitted new small business applications in 2022, confirming that new small business creation remains vital to the U.S. economy. However, a recent NEXT survey revealed that, 90% of small business owners aren’t confident they have enough coverage. Additionally, 53% of small business owners said their greatest barrier to getting insurance coverage is simply knowing what kind of insurance package their business needs. Small business owners can lean on expert guidance from agents who use the Bold Penguin Terminal for intuitive recommendations for coverage options that protect their investments.
“At the start of the year, NEXT set out to reaffirm its commitment to agents by providing them the tools and product capabilities to help them grow their businesses,” said Jack Ramsey, NEXT Insurance Vice President of Agent Business. "We are excited about this partnership with Bold Penguin, as the integration of its technology and NEXT’s digital underwriting will allow agents to find the best policies for their customers more quickly and with significantly less effort."
NEXT Insurance is trusted by over 490,000 business owners with an “A- Excellent” rating by AM Best, the industry standard for rating insurance companies. Bold Penguin has powered over 5M quote applications since 2016 and $4B+ in premium. Together, Bold Penguin and NEXT are bringing agents the best NEXT General Liability digital quote and bind experience.
About Bold Penguin
Bold Penguin is a leading integrated digital solution platform dedicated to simplifying small commercial insurance. Our technology makes the quote and bind process quick, effortless, and profitable for all parties - agents, brokers, and carriers. Bold Penguin’s innovative product suite has digitized and transformed a slow, manual process resulting in reduced costs, increased efficiency, and better overall outcomes. For more information, please visit www.boldpenguin.com.
About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital, affordable and tailored coverage. Trusted by over 490,000 business owners, NEXT offers policies that are easy to buy and provides 24/7 access to Live Certificates of Insurance, additional insured, and more. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. For more information, visit NEXTInsurance.com. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.
NEXT Insurance, Director of Corporate Communications
Bold Penguin Communications Manager