IVANS Insurance Solutions has announced a partnership with commercial insurance exchange Bold Penguin. Under the partnership, Bold Penguin will connect to the IVANS Distribution Platform, a platform for commercial lines marketing and sales distribution. The connection will expand agency access to more insurers.
“We have been big fans of IVANS and its leadership team for some time,” said Jim Struntz, COO of Bold Penguin. “Connecting Bold Penguin and IVANS together allows us to collectively scale integrations and completeness of the panel faster. We are very excited to partner with IVANS to further expand market access and accelerate the quote-and-bind process.”
IVANS Distribution Platform supports both straight-through processing and more complex risks that require the attention of an underwriter. The platform also identifies market appetite as part of the process to increase efficiency and submission volume and lower declination rates.
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“The cost of time and expense in maintaining individual connections to agency technology requires insurers and MGAs to be selective in the distribution partners they work with, limiting independent agents’ access to products that could be best for their policyholders,” said Reid Holzworth, CEO of IVANS Insurance Solutions. “We are thrilled to connect with the Bold Penguin Exchange to expand the markets they provide to their agency customers, further broadening the distribution channel to create more business opportunities for all stakeholders.”
The Bold Penguin Exchange allows agents to identify qualified small business prospects, evaluate real-time eligibility for a diverse collection of carriers and quote and bind multiple products through a single application.