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FT Partners Advises Bold Penguin on its Acquisition of RiskGenius

Overview of Transaction

  • On October 6, 2020, Bold Penguin announced its acquisition of RiskGenius, a pioneer in insurance document intelligence software
  • The RiskGenius platform is an AI-driven, SaaS-based solution made specifically for the insurance industry; it applies machine learning to insurance policies, allowing users to rapidly understand terms of coverage across a library of policy documents including policy review, compliance, competitive analysis and emerging risk assessments
  • Bold Penguin operates the largest commercial insurance exchange powering over 100,000 quote starts every month
  • The acquisition will add RiskGenius’s data and analytics products along with its highly skilled and seasoned team

Significance of Transaction

  • With this acquisition, RiskGenius will join Bold Penguin’s insurance intelligence effort, which leverages data and has a focus on intuitive workflow processing
  • This is Bold Penguin’s second acquisition this year, continuing to build on its position as the market leader in the $300 billion commercial insurance space

FT Partners' Role

  • FT Partners served as exclusive financial and strategic advisor to Bold Penguin in this transaction
  • This transaction underscores FT Partners' deep domain expertise and transaction experience across the InsurTech sector