Through RT Connector, RT Specialty’s proprietary digital marketplace for E&S, agents using the Bold Penguin Terminal quote platform will have additional commercial insurance policy coverage options which fulfil the evolving needs of business owners.
Across the industry, E&S submissions are increasing double-digits, year-on-year. The partnership addresses this growing demand by providing agents with more tools in an increasingly complex risk environment.
Bold Penguin, founded in 2016, seeks to simplify the insurance lifecycle for carriers and agents. With the Bold Penguin Terminal, agents can access coverage options efficiently.
Nicole Farley, Bold Penguin’s VP of Carrier Operations, commented: “Our team received strong feedback from our customer base on the importance of integrating RT Specialty, and we are thrilled to share the exciting news that this has come to fruition. Our agents can now receive online quotes for standard and E&S lines through the Bold Penguin Terminal in just minutes.”
RT Specialty operates across the whole of the US and has up to $2.5 million in limits. Their general liability, P&C commercial insurance policy package offerings specialise in artisan contractors, healthcare and social services, real estate, transportation and warehousing, and retail.
Will Jacob, Chief Underwriting Officer at RT Specialty, said: “At RT Connector, we are constantly looking to innovate and adapt to market needs. This collaboration allows us to do that by providing a platform to distribute our products and expertise through an automated digital channel. Bold Penguin understands the insurance space as much as they do technology, which is hugely important, underpinned by an entrepreneurial spirit and urgency that mirrors the culture at RT – we couldn’t ask for a better business opportunity.
“This collaboration enables us to meet our customers where they want to be met, providing them with another access point to our E&S solutions and continuing to help them drive efficiencies in how small accounts are placed,” Jacob added.
Bold Penguin has processed over 6 million quote applications and $6 billion+ in premium since 2016. They work with dozens of national, regional, and specialty carriers, offering 12 coverage lines plus E&S to help agents find the best value for their customers.
Source: Fintech Finance
