VANCOUVER, British Columbia–(BUSINESS WIRE)–Apollo Insurance coverage Options Ltd. (“APOLLO Insurance coverage”) (TSXV: APLO Reserved), Canada’s main on-line insurance coverage supplier, introduced that it has secured coverholder standing with Lloyd’s of London. This may give APOLLO entry to an expanded product portfolio, and the flexibility to fabricate distinctive merchandise to reply much more quickly to rising market alternatives.
Launched in April 2019, APOLLO now affords the most important choice of on-line insurance coverage in Canada. In January 2021, APOLLO introduced the shut of a CAD $13.5 million Collection A financing spherical.
“Attaining coverholder standing with Lloyd’s of London — essentially the most prestigious identify within the insurance coverage business — permits APOLLO to maneuver even quicker,” mentioned APOLLO CEO Jeff McCann. “The 2020’s promise a renaissance of entrepreneurship, and APOLLO will likely be there to help small companies and people with entry to digital insurance coverage merchandise.”
APOLLO’s proprietary expertise platform, the APOLLO Change, transacts insurance coverage enterprise in actual time, and leverages intensive knowledge and complex algorithms to cite, gather fee, create and ship insurance policies. 1000’s of varieties of small companies and people are capable of purchase on-line with out human intervention.
“It’s nice to see modern, new insurance coverage firms like APOLLO working with Lloyd’s and we’re excited for this partnership,” mentioned Marc Lipman, Lloyd’s Canada CEO. “The experience of the Lloyd’s market mixed with APOLLO’s modern method will make a constructive affect on the insurance coverage business.”
This achievement follows the appointment of Marco Andolfatto as APOLLO’s Chief Underwriting Officer final 12 months.
“APOLLO has created a completely fashionable insurance coverage buying expertise — digital, on the spot and paperless — consistent with all the pieces else in our each day lives,” mentioned Andolfatto. “This coverholder standing will allow us to quickly broaden our product providing.”
About APOLLO Insurance coverage
APOLLO is Canada’s main on-line insurance coverage supplier. Our proprietary platform, the APOLLO Change, permits insurance coverage brokers and their prospects to buy their coverage instantly, from anyplace, on any system, 24/7.
Not like conventional paper-based processes, APOLLO leverages intensive knowledge and complex algorithms to cite, gather fee, and challenge insurance policies for hundreds of varieties of small enterprise and people with out human intervention.
By means of conventional brokers and embedded finance partnerships APOLLO is redefining the distribution of insurance coverage.
For extra data, go to: https://apollocover.com/
Lloyd’s is the world’s main insurance coverage and reinsurance market. By means of the collective intelligence and risk-sharing experience of the market’s underwriters and brokers, Lloyd’s helps to create a braver world.
The Lloyd’s market supplies the management and perception to anticipate and perceive threat, and the information to develop related, new and modern types of insurance coverage for patrons globally.
It affords the efficiencies of shared sources and providers in a market that covers and shares dangers from greater than 200 territories, in any business, at any scale.
And it guarantees a trusted, enduring partnership constructed on the arrogance that Lloyd’s protects what issues most: serving to individuals, companies and communities to get better in occasions of want.
The Future at Lloyd’s units out our technique to construct essentially the most superior insurance coverage market on the earth.
For extra data, go to lloyds.com.
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