Bolttech and Bold Penguin Forge Global Insurance Partnership
Singapore-based insurtech Bolttech and US firm Bold Penguin have established a global partnership. The collaboration aims to develop joint commercial and personal lines insurance offerings across multiple markets.
Bolttech, a Singapore-headquartered insurtech operating in 39 markets, has announced a global partnership with US-based commercial insurance digital platform Bold Penguin. The collaboration, effective September 30, seeks to enhance insurance distribution and product development.
The companies intend to co-develop commercial and personal lines insurance offerings for agents, insurers, and embedded partners in the US, Europe, and Asia. This initiative will integrate Bold Penguin’s digital exchange for commercial lines, its data and AI services, and carrier network with Bolttech’s extensive access to both commercial and personal insurance products and protection services.
The partnership is expected to streamline insurance processes through the combined strengths of both companies. Bolttech’s AI-enabled workflows and distribution capabilities will be merged with Bold Penguin’s technological infrastructure, aiming to provide a more efficient experience for insurance intermediaries and customers.
Furthermore, Bold Penguin will gain the ability to offer Bolttech’s personal lines products to its US customer base through a unified interface. This strategic alliance underscores a move towards greater digitalization and expanded global reach within the insurance industry for both Bolttech and Bold Penguin.