American Family Insurance to Acquire Small Business Insurtech Bold Penguin
Madison, Wisconsin-based American Family Insurance is acquiring insurtech company Bold Penguin that serves small businesses.
The Bold Penguin digital exchange is used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers. Bold Penguin reduces the complexity of small business insurance buying.
The insurtech, based in Columbus, Ohio, will become a subsidiary of the American Family Insurance group, pending regulatory approval and closing.
Financial details of the transaction were not disclosed.
The announcement said that Bold Penguin will maintain its name and business model, “operating with a relentless commitment to neutrality and confidentiality with its insurer, broker and agent customers.”
Share this article
MELBOURNE, Fla., Jan. 13, 2021 /PRNewswire/
MyFloodInsurance.com is now available for real estate agents and homebuyers to receive instant flood insurance quotes from multiple flood insurance companies, as well as the National Flood Insurance Program (NFIP). This expedited quoting and purchase process allows for smoother real estate transactions.
In just three simple steps, homebuyers and real estate professionals can instantly recieve multiple flood insurance quotes.
The My Flood Insurance widget can be added to any website to allow for direct access to the quoting system.
The Flood Disaster Protection Act of
1973 made flood coverage mandatory for federal mortgages on properties in high-risk flood zones.