Bold Penguin partners with Thimble to add flexibility for coverage by the hour
The Thimble API is integrated into the Bold Penguin Exchange for bindable quotes in 48 states
New York (April 6, 2021) Bold Penguin, the largest commercial insurance exchange, has partnered with Thimble, the insurtech startup that helps businesses succeed through instant, scalable coverage.
Thimble offers a unique product among Bold Penguin’s diverse carrier panel. The Bold Penguin Exchange will now have Thimble’s bindable quotes, which include flexible monthly or hourly options for businesses and the ability to change, pause or cancel policies instantly. Thimble’s coverage options are designed for businesses of all sizes–from the most nascent startups that purchase insurance by-the-job, to mature organizations that want more control over their monthly and annual policies.
As small business formations and Bold Penguin quote starts continue to grow, agents and small businesses are requesting insurance flexibility, like that offered by Thimble. By combining the Bold Penguin Exchange and insurtech solutions, like Thimble, agents and small businesses can tackle insurance in a whole new way.
“Small businesses have faced many challenges this past year, and many agents are looking at new commercial insurance options. We know from a surge in quote starts on the Bold Penguin Exchange, that many are shopping around,” said Jim Struntz, Chief Operating Officer of Bold Penguin. “Thimble offers a unique insurance option for the agents seeking convenience and flexibility for small businesses. We look forward to including Thimble on the Bold Penguin Exchange.”
Bold Penguin and Thimble leveraged their flexible APIs to provide instant insurance quotes to small businesses. As a new entrant to the insurance market, Thimble is focused on leveraging technology to evolve and offer product offerings not typical in the commercial insurance market.
“Thimble has always centered around giving small businesses the ability to protect themselves at a scale that makes the most sense for their business. In today’s economic climate, control and flexibility are vital for keeping those small businesses running,” said Jay Bregman, CEO and founder of Thimble. “We are proud to partner with Bold Penguin to improve the connection between carriers, agents, and the businesses we support.”
Thimble insurance policies are underwritten by Markel Insurance Company, which also participates on the Bold Penguin Exchange.
About Bold Penguin
Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Bold Penguin was founded in 2016 by a group of entrepreneurs who spent their early days working with Allstate, Nationwide and Progressive alongside regional carriers and established insurance agencies. For more details, please visit www.boldpenguin.com.
About Thimble
Thimble’s mission is to make business insurance simple, to help businesses succeed on their own terms. Its flexible insurance policies are designed with small businesses in mind, who face great uncertainty in normal times, and are now on the road to economic recovery. Available via monthly subscription or for as little as one hour, Thimble coverage takes less than one minute to obtain and can be scaled up, adjusted or paused at any time. Thimble has sold over $175B in insurance coverage since its inception.
Founded by Jay Bregman and Eugene Hertz, Thimble is based in New York City and has raised over $30 million in funding from IAC, Open Ocean and other top firms. All General Liability and Professional Liability policies are underwritten by Markel Insurance Company. For more information, visit www.thimble.com.