American Family Insurance has closed its acquisition of digital exchange Bold Penguin, a technology used by insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers.
According to insurance Journal, Bold Penguin, now a subsidiary of the American Family Insurance group, 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 an announcement.
Financial details of the transaction were not disclosed.
