(Re)in Summary
- bolttech and Bold Penguin have formed a global partnership to develop a commercial- and personal-lines offering across the US, Europe and Asia.
- The arrangement combines Bold Penguin’s commercial-lines exchange and DeX ai services with bolttech’s distribution capabilities, AI-enabled workflows and international network.
- The joint offering will target agents, insurers and embedded-insurance partners, while giving Bold Penguin’s US customers access to bolttech’s personal-lines solutions through one interface.
- The deal follows Bold Penguin’s recent DeX ai launch and bolttech’s appointment of Emma Butler as APAC CEO.
Singapore-headquartered insurtech bolttech has entered a global strategic partnership with US commercial-insurance platform Bold Penguin to develop a joint commercial and personal lines offering across the US, Europe and Asia, according to a 30 September announcement.
The companies said the arrangement will combine Bold Penguin’s commercial-lines digital exchange, carrier network and data-and-AI services through DeX ai with bolttech’s personal- and commercial-lines distribution capabilities, AI-enabled workflows and international insurance network.
The offering is intended for agents, insurers and embedded-insurance partners.
“Bold Penguin is the leading commercial insurance distribution platform,” said Rob Schimek, group CEO of bolttech. “Their submission automation, AI-powered underwriting workflows and commercial orchestration platform complement our technology capabilities, personal lines expertise, and insurance ecosystem globally.”
Peter B Settel, president and CEO of Bold Penguin, said bolttech’s embedded-distribution experience and global scale made it a suitable partner as Bold Penguin expands internationally. “The work Rob and team have done leading in embedded distribution and building the most globally scaled insurtech makes them the perfect partner for us to join with and offer our shared customers truly unique options and solutions,” he said.
Settel added that Bold Penguin would offer its US customers bolttech’s personal-lines solutions through a single interface.
The announcement follows Bold Penguin’s 25 September launch of DeX ai, the AI layer underpinning its Digital Exchange, which reads submissions and matches risks with carriers’ appetite.
Last month, bolttech appointed Emma Butler as CEO for APAC, succeeding Philip Weiner, who moved to become CEO for North America. Bolttech currently operates in 39 markets across Asia, Europe, North America and Africa.
