Apollo’s network forms a well-defined portfolio of insurgents as well as traditional brick & mortar organizations looking for efficiency
Toronto, ON (Sept. 17, 2019) – As of September of this year, the Apollo Exchange powers more than 50 diverse brokerages across Canada.
Apollo has been steadily onboarding new brokerages since the Exchange’s April launch. New product from new partnerships with carriers have also been added to aid in creating supply for a steadily surging network of brokers.
The Exchange empowers brokers to quote and bind insurance online through Marketplace, or to sell direct to consumers from their own website through a white labelled eCommerce solution.
“What we’re finding is that the beneficiaries of Apollo technology are not limited to digital insurgents or traditional brick and mortar organizations — everyone across the board is looking for efficiency,” says Apollo CEO Jeff McCann. “The fact that we’ve achieved this milestone with such diverse partners shows that buzzwords like ‘disruption’ don’t apply to the insurtech landscape. Success comes from enablement, not disruption.”
This announcement follows a recent data analysis showing a prominent 61 percent increase in the quote to bind ratio on the Exchange from April to August. That improvement is a direct result of insights gained from digital data collection and broker feedback.
For more information, please contact:
Victor Lange, COO
The APOLLO Exchange (legal name “Apollo Insurance Solutions Ltd.”) is Canada’s largest online insurance marketplace. Apollo empowers brokers to instantly quote, bind, and issue policy documents for hundreds of classes of small business in real time, or white label the Exchange to sell directly from their website. Brokerages integrated with the Exchange are able to respond to the changing expectations of buyers and forward-thinking employees.
Co-founded by Jeff McCann, David Dyck, Justin Hamade, and Drew Green, Apollo was created to empower brokers to better serve their clients. Following the completion of Beta testing in April 2019, Apollo successfully closed its angel round of funding, raising $1 million CAD with the support of notable investors, including Drew Green, Matias Marquez, Kim Kaplan, and Caliber Ventures. Acting members of Apollo’s Board of Directors are leading industry and entrepreneurial figures Drew Green, Steve Albiani, Tim Gamble, and Jeff McCann. In June 2019, the company launched a first of its kind: digital, monthly subscription insurance.
Source: Apollo Insurance Solutions Ltd.