What is the Exchange?
The Bold Penguin Exchange is a platform that allows agents to refer commercial prospects they cannot write to a qualified broker or carrier, with a 50/50 revenue split on successfully matched referrals.
How does the Exchange work?
The Exchange allows agents to quickly refer commercial prospects they’re unable to write. These confirmed-intent buyers are matched with a broker or carrier that can place coverage—ensuring the business still receives the protection it needs.
When you submit a risk to the Exchange, a qualified broker or carrier purchases that referral, or prospect, and works directly with the business owner. Your agency still delivers a great client experience—even when the risk falls outside your appetite.
The Exchange accepts referrals for thousands of NAICS codes across general liability, business owner’s policies, commercial auto, workers’ compensation, and more—providing a streamlined path for nearly any small commercial risk you can’t place in-house.
How does an agency send to the Exchange?
The Exchange is designed for agents who have volume. Therefore, we typically can only enroll agents who can commit to referring 75-100 prospects per month.
From there, you can refer prospects to the Exchange in one of two ways:
Via a warm phone call transfer (PREFERRED)
Sending the application data through the Terminal
Warm phone call transfers are preferred, as the match rate is over 80%, while data transfers usually yield only a 30-40% match rate.
How does an agency get paid for a matched prospect?
Each agency receives a 50/50 revenue split on all prospects successfully matched through the Exchange.
Here’s an example:
Let’s say you send a roofer that you are unable to write into the Exchange. The Commercial Insurance Center, the Exchange’s external-facing call cCenter, contacts the prospect and matches them with another agent who pays Bold Penguin $100 for the referral. You would earn 50% of that matched revenue, or $50.
You’ll receive a weekly report showing the status of every prospect submitted, including matches and commissions earned. Commissions are paid monthly — for example, commissions earned in May will be deposited into your account between June 15 and 20.
Unlock Additional Revenue Streams
If Jim Smith Agency sends 100 phone calls into the Exchange, and we match 80% of those, with an average matched price of $75:
100 calls × 80% match rate = 80 matched prospects
80 matches × $75 = $6,000 total revenue
50/50 revenue split = $3,000 paid to the agency
What’s the prospect’s experience?
Once a prospect is referred to the Exchange, a Bold Penguin Customer Success Advocate (CSA) from the Commercial Insurance Center will call them within a few minutes.
It is a best practice to set expectations with the prospect:
Inform them that a representative from the Commercial Insurance Center will reach out within an hour to assist with their insurance needs.
If they are not able to answer the call, the CSA will leave a voicemail with their callback information.
What classes perform well on the Exchange?
The Exchange accepts referrals for thousands of NAICS codes across general liability, business owner’s policies, commercial auto, workers’ compensation, and more.
Top classes are generally Contractors (General Liability) and Restaurants (all lines of business).