The new platform is aimed at providing enhanced speed, ease and versatility to small business owners and independent agents
Nationwide and Bold Penguin have partnered to test an independent agent-facing commercial insurance quoting and selling platform to help agents meet evolving needs for small business customers.
As many people are working from home, small businesses are digitising their operations and independent agents are experiencing increased demand to offer online-first commercial lines quoting and binding, said the company.
Also, the company’s new commercial insurance quoting and selling platform is aimed at providing enhanced speed, ease and versatility to small business owners and independent agents.
Nationwide digitisation and innovation commercial lines vice president Tony Fenton said: “For several years, Nationwide has been investing in technology and digital capabilities to empower our distribution partners with quicker and easier quoting and selling experiences.
“We’re excited to continue our partnership with Bold Penguin as we test this new technology, learn from feedback and refine the offering to best support our agency partners and help them grow their businesses.”
Nationwide and Bold Penguin began partnership with the launch of Commercial Digital Storefront
Nationwide and Bold Penguin have initiated their partnership by launching the Commercial Digital Storefront, an easy to use, single entry software in 2019, which allows agents to reach the best markets in less time.
The new solution is a multi-product and multi-carrier quoting platform that features a complete set of insurance products offered by both Nationwide and its carrier collaborators including Hiscox, Markel, CNA, biBERK, and others.
The product is currently being tested with a controlled group of early adopters who will leverage the technology in July to serve small business customers.
The agent beta version is part of a collaborative effort to digitise products, including Commercial Auto, General Liability, Businessowners Policy (BOP), Workers’ Compensation and other future offerings.
Bold Penguin said that it has worked closely with Nationwide to select the initial set of agencies to be included in the testing of the multi-product quoting offering.
Furthermore, the companies are targeting early adopter agencies to test the tool and provide feedback before they iterate and start rolling out the solution.
Bold Penguin co-founder Marc DeLeonibus said: “Small businesses now, more than ever, need the trusted advice of an insurance professional.
“Rolling out an agent-friendly quoting platform with a forward-thinking insurance company, in our own backyard, isn’t just about innovation in the heartland, it’s about offering a complete digital panel so that insurance agents across the country can access more coverage options to serve more small businesses and spend less time between browser tabs, emails, and paperwork shuffling.”