Nationwide Offers Independent Agents a Commercial Insurance Digital Storefront
July 22, 2019 by Nationwide
Giant insurer Nationwide is partnering with an insurtech in an effort to speed up its product underwriting for commercial lines property/casualty agents.
The technology Nationwide is deploying was developed by Ohio-based Bold Penguin. The portal offers real time commercial risk analysis and rating.
Nationwide says the technology will provide its agents with a digital storefront that efficiently matches customers with appropriate coverage options. Bold Penguin’s technology enables quick building of user interfaces while keeping operations flexible, Nationwide added.
Nationwide announced in April 2018 that it would shift to an independent agency distribution model by 2020. Roughly 2,000 of its existing agents operating under the Nationwide brand have been given the opportunity to transition to the independent agency model, according to the company, which already has relationships with more than 10,000 independent agents across the U.S.
Click HERE to read the full article via Insurance Journal.
