Bold Penguin acquires xagent

Bold Penguin announced its acquisition of xagent , an independent, multi-quote platform for standard and surplus lines business insurance market. This acquisition will enable Bold Penguin to better serve carriers, brokers and agents through “increased scale and a single choice in the market, while maintaining its commitment to simplifying the commercial insurance process.”

The Bold Penguin Exchange connects businesses, agents and carriers to “the right commercial insurance quote efficiently and effectively.” The xagent solution for agents will be integrated with Bold Penguin’s Exchange.

“We are obsessed with upgrading the commercial insurance ecosystem – helping it evolve to meet the needs of all the players and catch up with the pace of technological innovation. xagent shares this vision and passion so instead of forcing the market to choose between our divided solutions, acquiring xagent gives customers one simple, comprehensive solution to trust.” – Ilya Bodner, Founder and CEO of Bold Penguin.

“Both of our business models back the ‘trusted advisor’ or agent, and our technology platforms keep things simple and enable the human connection people still want when buying insurance. xagent is proud to join forces with Bold Penguin, the leader in the insurtech industry, and work together to solve the same problem: simplifying and accelerating the process to obtain commercial insurance.” – Bryan Baird, President and CEO of xagent.