Empowering Small Businesses: The Digital Insurance Revolution

In a groundbreaking move, Bold Penguin has joined forces with NEXT Insurance, a pioneering tech-driven insurer for small businesses, to amplify the insurance offerings available on the Bold Penguin platform. Established in 2016 by seasoned insurance professionals, Bold Penguin’s crusade has been to demystify the complex terrain of small business insurance for both carriers and agents.

This alliance unlocks NEXT’s General Liability and Professional Liability products for Bold Penguin’s clientele, providing a significant expansion in market access for agents. It facilitates a swift NEXT sub-appointment process through Bold Penguin, paving the way for an increased volume of insurance quotes.

Integrating Bold Penguin’s comprehensive product suite translates into a surge in productivity for agents. They can now avoid redundant data entries within the Bold Penguin Terminal, streamlining their workflow. Nicole Farley, Bold Penguin’s Vice President of Carrier Operations, expressed that the collaboration with NEXT Insurance was a harmonious match from the outset. The shared vision of bolstering small business owners and their agents promises a mutually beneficial outcome. The broadened insurance options are set to become a critical asset for Bold Penguin users, particularly when navigating the challenges of the current market.

An abstract digital illustration symbolizing the partnership between an insurance technology platform and a digital insurer. The image should convey innovation, protection, and support for small businesses. Include visual metaphors such as digital networks, protective shields, and small business icons like storefronts and gear cogs. The color scheme should be modern and professional, with blues and greens to represent trust and growth.
insurance ecosystem

Recent statistics from the U.S. Census Bureau underscore the significance of new small business formations, with over 5 million new applications filed in 2022—a testament to the sector’s importance to the American economy. Yet, a NEXT survey highlighted a concerning trend: a staggering 90% of small business owners doubt their insurance sufficiency. Moreover, over half are hindered by the daunting task of identifying the appropriate insurance solutions for their enterprises.

Agents utilizing the Bold Penguin Terminal can offer professional advice, steering small business owners toward suitable insurance options that safeguard their ventures. Jack Ramsey, Vice President of Agent Business at NEXT Insurance, remarked that the company had commenced the year with a renewed pledge to empower agents. By equipping them with enhanced tools and products, NEXT aims to foster business growth within the agent community.

NEXT Insurance stands out with its commitment to revolutionizing small business insurance, offering solutions that are straightforward, digital-first, affordable, and customized to the unique needs of each business.

Our Perspective: Pinnacle Digital Advisors on Bold Innovation

As digital transformation experts at Pinnacle Digital Advisors, we recognize the significance of the partnership between Bold Penguin and NEXT Insurance. In today’s rapidly evolving market, this collaboration is a testament to the power of innovation and consumer-centric design in insurance services. By integrating cutting-edge technology with a deep understanding of small business needs, Bold Penguin and NEXT are setting a new standard for the industry. Agents empowered with these tools can deliver tailored solutions that not only meet the current demands of small business insurance but also anticipate future challenges.

This article was originally published in: https://www.crowdfundinsider.com/2023/09/213529-insurtech-bold-penguin-next-insurance-to-expand-product-offerings-on-terminal/

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