Toronto, ON (Oct. 31, 2019) – Apollo, Canada’s largest online insurance marketplace, is considering adding Alien Abduction Coverage to the list of products offered on the Exchange, after hearing from brokers at LeGear Pelling Insurance Agencies Ltd. that there may be a market for it.
“Responding to broker demand is key to our business model,” said Apollo CEO Jeff McCann. “With recent feedback from brokers, hopefully there is also a market out there that is willing to underwrite this product in Canada, which we would be happy to consider deploying on the Apollo Exchange so brokers and consumers could access it digitally.”
Although this coverage exists in the United States, it is currently unavailable in Canada. Increasingly insurance companies are reducing product capacity in many standard lines of business including property and auto, but secondary specialist markets may consider such a coverage. Clients are seeking specialized coverage like this to meet their unique requirements. Time of year could potentially be increasing demand as statistically speaking, sightings of aliens increase on the last day of October.
All of the products on the Exchange are available for immediate quote, bind, and policy issuance, in line with consumer expectations.
“Similar to key man or key woman life insurance coverages, if you lose an essential contributor to your organization — potentially to another galaxy — this could be disastrous for your business,” said Alan McNulty, a Commercial & Specialty Markets Broker at LeGear Pelling Agencies Ltd. “Alien Abduction coverage bridges the intergalactic personal risk gap challenge.”
Apollo is also considering adding a Bigfoot Sighting Liability product to the online Exchange.
For more information, please contact:
David Dyck, APOLLO
Alan McNulty, LeGear Pelling Insurance Agencies Ltd.
About the Apollo Exchange
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. For more information, visit apollocover.com.
- Learn more about Apollo in the InsurTech Spotlight.
About LeGear Pelling
LeGear Pelling Insurance (LPI) is a full service, general insurance agency that has been serving individuals, families and businesses since 1984. LPI serves thousands of clients, many of whom have been with the agency since its inception. Along with providing their clients with first in class insurance products and advice, LPI principals and associates are actively engaged in improving the communities where they work and live. For more information, visit legearpelling.com.
Source: Apollo Insurance Solutions Ltd.Tags: Apollo, InsurTech Spotlight