Digital transformation technology and service provider Sutherland has partnered with digital commercial insurance platform Bold Penguin.
Through the partnership, Sutherland’s AI-based underwriting ecosystem will join Bold Penguin’s data enrichment and validation analytics solution with the aim of improving productivity, speed to market and decision-making processes for underwriters, the company says.
Sutherland’s Direct Policy Acquisition ecosystem and Bold Penguin’s Exchange and Terminal platforms will accelerate the quote and bind process for commercial insurance. Together, the solutions will reduce costs, improve underwriting quality and help the industry to prepare for straight-through processing underwriting.
Vijay Pahuja, senior vice president and head of insurance at Sutherland, says: "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.
“This partnership combines our experience, transformation and digitisation solutions and decades of expertise in commercial insurance with Bold Penguin's solutions for submissions data enrichment, prospecting and quoting, allowing us to jointly transform the commercial insurance landscape.”
Jim Struntz, chief operating officer at Bold Penguin, comments: “Bold Penguin brings expertise helping carriers 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.”
