Bold Penguin, an InsurTech portal for commercial lines property/casualty agents, named a former State of Ohio deputy treasurer as its new chief financial officer.

Seth Metcalf will be tasked with helping the Ohio company financially and strategically position itself for new growth. Bold Penguin touts its portal as streamlining the new business and renewal process and also creating efficiencies well beyond manual processes or other portal products for commercial lines P/C insurance.

The startup said its portal helps agents more easily find appropriate business in an online marketplace and achieve better speed-to-market by automating much of the underwriting process.

Previously, Metcalf has been involved with initiatives targeting inefficiencies in the capital markets and money-market product segments, as well as using technology to enable financial transparency and to make better savings options available for individuals with disabilities. He also was previously a tax and transactional finance attorney with the law firm Squire, Sanders & Dempsey LLP.

In a statement, Metcalf said he was looking forward to using his experience to help Bold Penguin “transform the commercial lines process for agents and insurance companies.”

Bold Penguin founder and CEO Ilya Bodner said that Metcalf will “help lead us through this period of rapid growth.”

Source: Bold Penguin