Wednesday, June 19, 2024

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Sutherland and Bold Penguin partner to develop innovative solutions for commercial insurance

Sutherland, a leading digital transformation technology and services company, has entered a partnership with Bold Penguin, a digital platform with integrated solutions that simplify commercial insurance. This partnership allows Sutherland and Bold Penguin to drive digital transformation in customer acquisition, new business, and underwriting for the commercial insurance industry.

Sutherland’s end-to-end AI-based underwriting ecosystem will integrate with Bold Penguin’s state-of-the-art analytics solution for data enrichment and validation. The combined capabilities deliver superior data quality and intelligence to underwriters increasing productivity, speed to market, and decision-making.

In addition, Sutherland’s Direct Policy Acquisition ecosystem complements Bold Penguin’s Exchange and Terminal platform solutions, reducing the time it takes to quote and bind commercial insurance. This partnership will allow commercial carriers to significantly reduce the cost of new and renewal business, improve underwriting quality, and accelerate the shift towards straight-through processing (STP) underwriting.

Sutherland’s Vijay Pahuja, SVP & Head of Insurance, said: “Infusion of Bold Penguin’s industry-leading platforms and data expands our automation and AI ecosystem for commercial insurers, making the benefits of AI more accessible than ever before. It will allow our client’s underwriters to quickly make intelligent, more proactive risk assessment decisions. This partnership combines our strong suite of experience transformation and digitization solutions, and decades of functional expertise in commercial insurance, with Bold Penguin’s innovative solutions for submissions data enrichment, high-quality prospecting, and quoting; allowing us to jointly transform the commercial insurance landscape.”

Bold Penguin’s Jim Struntz, Chief Operating Officer, says: “Bold Penguin brings a wealth of expertise helping carriers efficiently distribute their digitally enabled products to agents and brokers in support of millions of small business owners annually. Our team is excited to further serve an industry we’re passionate about as we combine Bold Penguin’s digital quote-to-bind and analytics platforms with Sutherland’s AI-powered business operations in support of a streamlined commercial underwriting process.”

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  1. finova Upgrades Award-Winning Origination Platform Apprivo To Drive Operational Efficiency For Clients Amid Rate War Read more
  2. Gilion Appoints Andreas Hedlund as New CFO and Deputy CEO Read more
  3. FINOM Brings Integrated E-Invoicing and Business Banking to Italian SMEs with Launch of Business Accounts and Local IBAN Read more
  4. More Than Two Thirds Of Financial Services Organisations Say Network Security Threats Have Increased In The Last 18 Months, According To New Daisy Research Read more
  5. Monavate and Know Your Customer Collaborate to Reinvent Compliance Across the European Payment Solutions Read more