Insurtech: Bold Penguin, NEXT Insurance to Expand Product Offerings on Terminal

Bold Penguin has partnered with NEXT Insurance, a 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.”

Nicole Farley, Bold Penguin’s Vice President of Carrier Operations, said:

“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.” 

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.”

Jack Ramsey, NEXT Insurance Vice President of Agent Business, said:

“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.”

As covered, NEXT Insurance claims that it is “transforming small business insurance with simple, digital, affordable and tailored coverage.”

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