Partnership to allow increased productivity, speed to market
Sutherland, a digital transformation business, has partnered with Bold Penguin, a digital platform that simplifies commercial insurance.
According to Sutherland, the collaboration will allow the companies to accelerate digital transformation in client acquisition, new business, and underwriting for the commercial insurance market.
Sutherland’s AI-based underwriting environment will be integrated with Bold Penguin’s analytical capabilities as part of the partnership. According to Sutherland, the companies’ combined capabilities will provide higher-quality data to underwriters, enhancing productivity, speed to market, and decision-making.
Sutherland’s Direct Policy Acquisition environment will also complement Bold Penguin’s Exchange and Terminal systems, reducing the time required to quote and bind commercial insurance.
According to Sutherland, the agreement will enable commercial insurance carriers to lower the cost of new and renewal business, improve underwriting quality, and speed the move to straight-through processing (STP) underwriting.
“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,” said Vijay Pahuja, senior vice president and head of analytics at Sutherland. “It will enable our clients’ underwriters to make more informed, proactive risk assessment decisions.”
“This partnership combines our strong suite of experience transformation and digitization solutions, as well as 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 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,” said Jim Struntz, Bold Penguin’s chief operating officer. “Our team is thrilled to be combining 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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