American Family Insurance is set to acquire the insurance technology provider, one of its own portfolio companies.
Insurer American Family Insurance has agreed to buy US-based insurance technology provider Bold Penguin for an undisclosed amount, providing an exit for insurance and risk management services provider Lockton.
Bold Penguin provides a digital platform that helps commercial insurance brokers and distributors select and receive quotes on products from a number of insurance providers. Following the close of the deal, it will operate under the same branding, as a subsidiary of American Family.
American Family was an early investor in…
