Done Deal: Bold Penguin Is Now a Subsidiary of American Family
February 16, 2021
Madison, Wisconsin-based American Family Insurance has closed the deal on acquiring the digital exchange Bold Penguin that serves small businesses.
The Bold Penguin technology is used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers. Bold Penguin reduces the complexity of small business insurance buying.
Bold Penguin, based in Columbus, Ohio, is now a subsidiary of the American Family Insurance group.
Financial details of the transaction were not disclosed.
Bold Penguin will maintain its name and business model. Bold Penguin employees, including founder and CEO Ilya Bodner and co-founder and Chief Data Officer Ben Clarke, are remaining with the company, according to the announcement.