Commercial insurance platform provider Bold Penguin is expanding commercial offerings on its exchange to include excess and surplus (E&S) coverage, after partnering with Markel Specialty.
Bold Penguin operates a digital exchange platform designed to help small-medium businesses, their brokers, and major carriers connect as fast as possible.
The company believes adding E&S coverage to its existing offerings (which include general liability, business owners policy, professional liability, workers compensation and commercial auto) increases the value of the exchange and gives extra support to more non-traditional small businesses.
This is the first time both standard commercial and E&S commercial options will be available on a single platform.
“We’ve noticed that now more than ever, E&S coverage is critical to modern SMBs,” said Mark Schauss, who heads up all binding P&C for Markel.
“Partnering with Bold Penguin was the natural next step in transforming E&S insurance.”
Ilya Bodner, founder, and Chief Executive Officer of Bold Penguin, added, “Our mission at Bold Penguin is to empower agents, brokers and carriers to find the ideal commercial insurance solution for each individual SMB, including those that are not traditional businesses.
“Our technology is unifying a fragmented market, and Markel is a major player in E&S underwriting, so partnering with them allows us to enter this space in an extremely impactful way.”