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Done Deal: Bold Penguin Is Now a Subsidiary of American Family

Done Deal: Bold Penguin Is Now a Subsidiary of American Family February 16, 2021 Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses. The Bold Penguin technology 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. Bold Penguin, based in Columbus, Ohio, is now a subsidiary of the American Family Insurance group. Financial details of the transaction were not disclosed. Bold Penguin will maintain its name and business model. Bold Penguin employees, including founder and CEO Ilya Bodner and co-founder and Chief Data Officer Ben Clarke, are remaining with the company, according to the announcement.

American Family Insurance to Acquire Small Business Insurtech Bold Penguin

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.”

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