American Family Insurance closes Bold Penguin acquisition

American Family Insurance Mutual Holding Co. has completed its acquisition of Columbus, Ohio-based insurance technology company Bold Penguin Inc.

The acquired entity will operate as a subsidiary of the American Family Insurance group. Bold Penguin's team, including Ilya Bodner, founder and CEO, and Ben Clarke, co-founder and chief data officer, will remain with the company.

Bold Penguin's digital exchange enables insurance agents, brokers and other distributors to match, quote and bind policies from a range of insurers.