Buy-online insurance for Trades and Contractors has launched as a new product offering from APOLLO Insurance
VANCOUVER, British Columbia — APOLLO Insurance Solutions, a leading Canadian digital insurance provider, has partnered with Definity Financial Corporation (Definity) to add coverage for Trades and Contractors to APOLLO’s catalog of products. Definity is a Canadian multi-channel insurance company, offering commercial insurance through its affiliate Economical.
This product serves APOLLO’s core product vertical of Construction and Contractors. APOLLO’s other verticals include Home, Tenant, Business and Professional Services, and Health, Beauty and Wellness.
This new offering of Trades and Contractors Insurance includes Commercial General Liability (CGL) with up to $5M limits for companies generating $3M or less in Canadian revenue. Eligibility classes for the product include plumbers, electricians, HVAC, and many more, offering qualified businesses a Tools and Equipment Floater of up to $150K, and Tenant Legal Liability of up to $500K. Companies are also covered for up to three operations under the same business name, and have the option of monthly or annual payments. As with all APOLLO products, coverage is flexible and businesses can select the options that are specific to their needs. This product is available in Alberta, British Columbia, Ontario, New Brunswick, Nova Scotia, and Prince Edward Island.
APOLLO’s proprietary technology platform, the APOLLO Exchange, provides insurance transactions in real-time. It leverages extensive data and sophisticated algorithms to quote, create, deliver, and collect payment for each and every policy. Thousands of brokerages, small businesses, and individuals are able to buy online coverage without human intervention.
Insurance brokers can access all of APOLLO’s digital products on the Broker Portal by registering for free. The entire process, from quoting to binding coverage, to issuing policy documents, is immediate, online, and paper-free.
“APOLLO is excited to expand our coverage offerings to the quickly-growing Trades and Contractors industry. It’s our mission to make the insurance buying process effortless, in-line with modern consumers’ expectations,” stated Jeff McCann, Chief Executive Officer & Co-Founder of APOLLO. “Definity and APOLLO share a deep commitment to using technology to deliver a seamless insurance experience, regardless of the distribution channel or industry.”
Economical is one of a select group of approved Canadian insurance carriers that support APOLLO products through the APOLLO Exchange. In March 2022, APOLLO announced it had secured proposed funding from Definity, subject to regulatory approval.
APOLLO has signed a strategic partnership with Economical to distribute an enhanced range of digital insurance products.
About APOLLO Insurance
APOLLO Insurance (“Apollo Insurance Solutions Ltd.”) is Canada’s leading online insurance provider. Our proprietary platform, the APOLLO Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small businesses and individuals without human intervention. Through traditional agents and embedded finance partnerships, APOLLO is redefining the distribution of insurance.
For more information, visit: https://apollocover.com
Availability of the APOLLO Exchange and the products described herein are subject to applicable eligibility requirements, including jurisdiction, and other terms and conditions. Descriptions of the Apollo Exchange and such products contained herein are qualified in their entirety by such requirements, terms, and conditions. All rights reserved.