News about the Bold Penguin closing was shared earlier today with American Family employees:
Feb. 16, 2021 – As announced on Jan. 14, American Family Insurance Mutual Holding Company (American Family) is continuing its innovative and collaborative approach to serving customers with the acquisition of insurtech company Bold Penguin. The acquisition of Bold Penguin by American Family officially closed today.
The Bold Penguin acquisition provides an opportunity for our Enterprise to engage in a digital space in a way we have not historically.
“We are excited about American Family’s investment in digital innovation within the independent agency channel as it helps MSA support growth of independent agencies while moving the industry forward,” said Sarah Bourdeau, head of sales. “Bold Penguin’s platform provides independent agents and brokers a solution that makes quoting and binding commercial policies faster and more streamlined.”
Bold Penguin brings value to independent agency channel by delivering a Single-Entry Multiple Company Interface that enables agents to enter information once, obtain quotes from multiple companies and select a company for placement. In doing so, the exchange creates efficiencies that improve independent agency owners’ ability to increase revenue.
Some MSA-appointed agents partner with Bold Penguin today; the benefits and value of those partnerships will remained unchanged.
The acquisition also complements Main Street America Insurance’s mission to take care of our customers better than anyone else by providing an exceptional digital quote to issue experience, agnostic of products and platforms.