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Insurance · head to head

Bold Penguin vs Riskonnect

Bold Penguin logo

Bold Penguin

Insurance

Business insurance marketplace for brokers

From
Free
Rated
-
Full reviewWebsite
Riskonnect logo

Riskonnect

Insurance

Integrated risk management and claims administration for corporate risk teams

From
On request
Rated
-
Full reviewWebsite

The short version

  • Only Bold Penguin has a free tier, so it costs nothing to try first.
  • Each has a real cost: Bold Penguin no public pricing available; entirely quote-based sales model; Riskonnect total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • They diverge on capability: Bold Penguin covers Multi-carrier quoting, Riskonnect covers Claims administration.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Bold Penguin and Riskonnect actually diverge.

Attributes where Bold Penguin and Riskonnect differ
AttributeBold PenguinRiskonnect
Starting priceFreeOn request
Pricing modeltransactionquote
Free tierYesNo
Founded2019Unknown

Identical on both: platforms (Web, Ios, Android), user rating (Not yet rated), category (Insurance).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Bold Penguin

  • Multi-carrier quoting
  • Instant quotes
  • Online binding
  • Customer portal
  • Commission tracking
  • Mobile app
  • API access
  • Reporting

Only in Riskonnect

  • Claims administration
  • Total cost of risk reporting
  • Policy and exposure management
  • Enterprise risk management
  • Health and safety
  • Business continuity
  • Third party risk
  • Data integration

What people use each for

The jobs each tool is most often brought in to do.

Bold Penguin

  • Routing and triaging commercial insurance submissionsnot Riskonnect
  • Automating submission to bind through the Terminal platformnot Riskonnect
  • Handling complex middle market submissions with SubmissionLinknot Riskonnect
  • Policy checking with ClauseLinknot Riskonnect

Riskonnect

  • A self insured employer that wants to own its workers compensation loss data rather than depend on the broker or TPA system it will lose at renewalnot Bold Penguin
  • A risk manager building a defensible total cost of risk figure for the CFO across claims, premium, retained losses and collateralnot Bold Penguin
  • A third party administrator running claims for multiple clients that needs separate entity structures on one platformnot Bold Penguin
  • A multinational consolidating claims, safety incidents and enterprise risk registers onto one entity hierarchy for board reportingnot Bold Penguin

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Bold Penguin

  • No public pricing available; entirely quote-based sales model
  • B2B enterprise solution with custom pricing based on organizational needs
  • No published tiers or plan features; feature set and cost determined during sales consultation

Riskonnect

  • Total first year cost is dominated by implementation rather than licence; vendor professional services frequently approach the annual licence figure and the internal staff time to define data structures and migrate historic claims is a comparable third cost that never appears in the quote.
  • The platform grew through acquisitions including Ventiv and Sword GRC, so module interfaces and administration models are not uniform and staff trained on one module do not transfer cleanly to another.
  • Licensing is modular, so the price quoted for a claims deployment rises materially the first time the risk team wants ERM or business continuity, and there is little negotiating leverage once the claims data is migrated.
  • Configuration depth means most changes go through an administrator or the vendor rather than an end user, and risk teams without a dedicated system administrator find that change requests queue for weeks.
  • Historic claims data migration quality depends entirely on what the outgoing broker or TPA will export, and incomplete legacy data undermines the multi year trend reporting that was the reason for buying.

Pricing, plan by plan

Bold Penguin

Free
  • Broker AccessFree
    • Multi-carrier quotes
    • Instant quoting
    • Commission tracking

Riskonnect

On request
  • Riskonnect Platform$undefined/year
    • Licensed by module, named user count and entity structure
    • Claims administration and RMIS core
    • Optional ERM, safety, continuity and third party risk modules

Which should you pick?

Choose Bold Penguin if

  • You need multi-carrier quoting.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want instant quotes.
Bold Penguin review

Choose Riskonnect if

  • You need claims administration.
  • You work on Web, iOS, Android.
  • You also want total cost of risk reporting.
Riskonnect review

Questions people ask

Is Bold Penguin or Riskonnect better?
Neither clearly leads. Bold Penguin starts at Free and Riskonnect at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Bold Penguin or Riskonnect?
Bold Penguin has a free tier; the other does not. Paid plans start at Free for Bold Penguin and On request for Riskonnect.
Does Bold Penguin or Riskonnect run on more platforms?
Bold Penguin runs on Web, Ios, Android. Riskonnect runs on Web, iOS, Android.
Can I use Bold Penguin for free?
Yes. Bold Penguin has a free tier, so you can try it without paying. Riskonnect starts at On request.
What is Bold Penguin best used for?
Bold Penguin is most often used for routing and triaging commercial insurance submissions, automating submission to bind through the terminal platform, handling complex middle market submissions with submissionlink, policy checking with clauselink. Of those, routing and triaging commercial insurance submissions and automating submission to bind through the terminal platform are not what Riskonnect is typically brought in for.
What can Bold Penguin do that Riskonnect cannot?
Bold Penguin covers Multi-carrier quoting, Instant quotes, Online binding, Customer portal. Riskonnect covers Claims administration, Total cost of risk reporting, Policy and exposure management, Enterprise risk management.

Answered from the vendors’ own pages

Bold Penguin: What is Bold Penguin's pricing model?

Bold Penguin uses a custom, quote-based pricing model. Specific costs and billing periods are not published publicly; pricing is determined through consultation with the sales team based on organizational needs.

Source
Riskonnect: What does Riskonnect actually cost?

Nothing is published. Reported deals range from roughly 35,000 US dollars a year for a narrow deployment to well over 250,000 for a multi module enterprise programme, with implementation services quoted separately and often of similar magnitude in year one.

Bold Penguin: Does Bold Penguin offer standard subscription plans?

Bold Penguin does not publish standard pricing tiers or subscription plans. The company directs interested parties to book a demo or contact sales through 'Let's Talk' forms to discuss custom solutions and pricing.

Source
Riskonnect: How long does implementation take?

Three to six months is typical for a claims and RMIS deployment, longer where historic loss data from several brokers or TPAs has to be normalised.

Bold Penguin: How can I get a Bold Penguin price quote?

To obtain pricing information, visit the Bold Penguin website and submit a demo request or contact form. A sales representative will assess your needs and provide a customized pricing proposal.

Source
Riskonnect: Why not just use the broker supplied RMIS?

Because you lose it when you change broker, and the data model serves the broker reporting rather than yours. Owning the system is the main reason companies pay for one.

Riskonnect: Is it a GRC platform or a claims system?

Both, but the claims and insurable risk core is the mature part. If you want pure GRC without claims, you are buying more platform than you need.

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