Canadian InsurTech APOLLO announces partnership with Lloyd’s of London
By Pavithra R
APOLLO Insurance Solutions, making it easy for small businesses and individuals to buy insurance through its proprietary online platform has announced securing coverholder status with Lloyd’s of London.
The partnership will give APOLLO access to an expanded product portfolio, and the ability to manufacture unique products to respond more rapidly to emerging market opportunities.
“Achieving coverholder status with Lloyd’s of London — the most prestigious name in the insurance industry — allows APOLLO to move even faster. The 2020’s promise a renaissance of entrepreneurship, and APOLLO will be there to support small businesses and individuals with access to digital insurance products,” said CEO Jeff McCann.
“It’s great to see innovative, new insurance companies like APOLLO working with Lloyd’s and we are excited for this partnership. The expertise of the Lloyd’s market combined with APOLLO’s innovative approach will make a positive impact on the insurance industry,” said Marc Lipman, Lloyd’s Canada CEO.
Launched in 2019, APOLLO offers a large selection of online insurance in Canada. In January 2021, the InsurTech closed a CAD $13.5 million Series A financing round. It’s proprietary technology platform, the APOLLO Exchange, transacts insurance business in real-time, and leverages extensive data and sophisticated algorithms to quote, collect payment, create and issue policies. It allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. The achievement follows the appointment of Marco Andolfatto as the InsurTech’s Chief Underwriting Officer last year.
“APOLLO has created an entirely modern insurance purchasing experience — digital, instant and paperless — in line with everything else in our daily lives. This coverholder status will enable us to rapidly expand our product offering,” said Andolfatto.
IBSi Daily News Analysis
May 31, 2023
Deepfakes and generative AI trigger more online identity verification in FSRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage