Bold Penguin continues acquisition spree with RiskGenius

  • Bold Penguin continued its acquisition spree with RiskGenius to further enhance its Software as a Service platform.
  • And this purchase will help the insurtech further enhance its platform.
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The US-based B2B insurtech has entered a definitive agreement to acquire RiskGenius, per a press release; details around the acquisition haven’t been disclosed.

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Bold Penguin acquires insurtech RiskGenius for its its Software as a Service platform.

Business Insider Intelligence


RiskGenius has developed document intelligence software along with other data and analytics products, which will become part of Bold Penguin’s existing Software as a Service (SaaS) platform under the acquisition. This marks Bold Penguin’s second acquisition this year, following the purchase of multiquote platform for standard and surplus lines business insurance market xagent.

Bold Penguin provides technology solutions for the $300 billion commercial insurance space—and the latest purchase will help it enhance its platform. Bold Penguin partners with brokers and insurers to make underwriting small commercial policies a viable business.

Its products include a commercial insurance exchange that connects businesses, agents, and carriers to the right quote, as well as an agent terminal that lets agencies quote and bind commercial insurance. Its clients include Nationwide, which teamed up with Bold Penguin to enhance the underwriting of its commercial insurance line. RiskGenius will enhance the fintech’s existing product suite, as it focuses on the renewal stage of the policy lifecycle and leverages AI and machine learning to understand terms of coverage, including policy review, compliance, and emerging risk assessments.

Underwriting policies is becoming increasingly difficult for insurers, as the process is becoming more complex due to emerging risks, like cybercrime. Emerging risks, including cyber threats and disruptive environmental patterns, make

Amazon Echo: Alexa’s new smart speaker home just got a bold redesign

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Amazon rounds out the Echo.


Amazon

Amazon line of smart speakers is switching up its look; the new Amazon Echo will be spherical. The price will be $100 (£90), which is what the company’s previous, third-generation Amazon Echo went for. The new Echo speaker will be available Oct. 22, and its fabric-covered body will come in three different colors: charcoal, glacier white and twilight blue. It’s open for preorder now.

For specifics about its design as regards sound quality, Amazon says, “Its 3.0-inch woofer, dual-firing tweeters, and Dolby processing delivers stereo sound with clear highs, dynamic-mids, and deep bass that automatically adapts to any room.”

While the woofer appears to be the same as the previous Echo’s, Amazon has packed a second .8-inch tweeter into the speaker, which should fill out its mid- and high-range sound. In addition, Amazon says the speaker will adapt to the acoustics of any room it’s put in, which I’m excited to test out.

The tech giant’s lineup of smart speakers includes its budget-friendly Echo Dot, which is also getting the spherical treatment, as well as the high-end Echo Studio announced at last year’s hardware event and released for the holidays. Though a wall-plug speaker called the Echo Flex and a Dot with Clock (which is also getting spherical) were announced at last year’s event and released soon after, Amazon seemed more concerned with new generations of speakers than all new products this year.

Amazon Ring Echo Fire TV 2020

Amazon/Screenshot by Juan Garzon/CNET

With its built-in Zigbee receiver for connecting with smart home devices, the new spherical Echo speaker will replace both 2019’s Amazon Echo and 2018’s Amazon Echo Plus.

See also: Every new Alexa feature

California Ushers In A Bold New Era Of Board Diversity

Efforts to secure diversity on corporate boards have reached a new level of intensity. Governor Gavin Newsom of California signed a statute into law on Wednesday, September 30, which will require publicly held corporations whose principal executive offices are located in California to satisfy mandated levels of racially, ethnically and other diverse directors beginning in 2021.

By emphasizing the interests of “underrepresented communities,” the new legislation promises to significantly increase the level of boardroom engagement on matters of leadership diversity. In so doing, it serves to broaden existing concepts of diversity to include specific ethnic groups and matters of sexual orientation. It is also a dramatic supplement to 2018 California legislation that required public companies headquartered in the state to assure the appointment of specified numbers of women to the board of directors—a groundbreaking development at the time.

While California politics are unique in many ways, this new law may well spark similar legislative initiatives in other states— as occurred with California’s 2018 legislation. For that and other reasons, the new law is noteworthy to the board nominating committees of public, private, and nonprofit corporations across the country and across industry sectors. Many boards may already believe, with some justification, that they have made great strides on matters of diversity. They just may no longer be enough, given the goals and objectives of the California statute, and the likelihood that they will be broadly promoted by corporate stakeholders and other interested parties.

The law provides for an escalating level of racial and ethnic diversity on the board, to be implemented over the next several years. Specifically, the new law requires affected companies to ensure that their boards have a minimum of one director from an