Relative newcomer to the commercial insurance space, industry technology provider Bold Penguin has tapped industry veteran Dan Gifford as its chief financial officer.
Gifford brings with him 30 years’ experience in both public and private companies, such as KPMG, Nationwide, Progressive Medical and DASCO Home Medical Equipment and has led three successful ownership events, according to an announcement by the Columbus-based insurance tech firm.
“I couldn’t be more thrilled to welcome Dan to Bold Penguin,” Bold Penguin founder and CEO Ilya Bodner said in prepared remarks. “His wealth of knowledge and experience support our objectives to financially and strategically scale the business in a highly regulated and competitive environment. As our organization grows, so does our executive leadership team, and it’s exciting to bring on high caliber, results-oriented professionals like Dan.”
Gifford, who will report directly to Bodner, is expected to lead financial operations, interfacing internally and with investor relations teams.
His appointment is expected to aid in leading Bold Penguin’s focus on forecasting, unit economics and long-range strategic initiatives, a press release detailed.
The company’s size has more than doubled year-over-year since inception, and in 2019 the business hit a milestone of 1 million small business quote experiences through its exchange.
The company projects it will more than double in size this year, company officials said, while maintaining a better gross margin and adding two more of the top 10 insurance P&C carriers as terminal users.
“Bold Penguin was a natural fit based on my resume and professional background, but I was really attracted to this role because of the team’s energy,” Gifford said. “Everyone I met with had such focus and drive, and I wanted to be part of it.”
Gifford, whose background also includes working for entrepreneurial organizations, said he looked forward to building out a long-term forecast and bringing a dedicated focus to his role.
“My experience taking private companies to the next level in terms of financial reporting and driving confidence with key stakeholders will help build on the existing solid foundation,” he added.
During his career, Gifford also has held a number of positions for public and private companies, including leading the due diligence teams through several transactions. More specifically, he worked at KPMG auditing insurance and financial services companies; Nationwide Insurance, where he managed the diligence process; and Progressive Medical, where he focused on significant sales transactions.
Gifford succeeds Seth Metcalf, who is expected to remain at the firm in the role as general counsel. Metcalf joined Bold Penguin four years ago after serving as deputy treasurer for the state of Ohio.