Toronto, ON (Jan. 30, 2020) – The Apollo Exchange is pleased to announce it is now offering Program Automation services to further assist brokerages in transacting insurance online.
Program Automation creates a customized broker branded portal for members of franchises, associations, and other group buying programs which allows for policyholders to immediately quote, bind, pay for coverage and receive instant policy documents. The data collected is automatically formatted to create a bordereau for reporting to insurance companies or Lineage upload with Lloyd’s.
These digital functions solve several problems at once for brokerages: renewal applications, certificate processing, bordereaux, and accounts receivable. The proprietary Exchange technology also features integrated monthly pay, so policyholders have the option of paying for a full year or monthly off their credit or debit card.
“Program business drives a huge number of transactions in this industry, but takes up a massive amount of time, energy, and in many cases, paper,” said Apollo CEO Jeff McCann. “Not just on behalf of the brokers and underwriters, but their clients as well. This tool does not replace human interaction, it frees up staff time to effectively engage their clients, learn about their business, and recommend new coverages for emerging risks.”
The Program Automation tool has been added alongside Apollo’s existing offerings: the free Broker Portal, which allows brokers to browse insurance products, receive immediate quotes, and transact policies, with documents issued in real time; and Launchpad, a white labelled eCommerce solution that allows client to self-serve from the broker’s website 24/7.
Because it is a digital workflow, Program Automations can easily add standalone coverages from the Apollo suite, such as office package for an E&O program or cyber to a franchise group.
For more information, please contact:
David Dyck, Head of Marketing and PR
About the Apollo Exchange
The Apollo Exchange (legal name “Apollo Insurance Solutions Ltd.”) is Canada’s largest online insurance marketplace. The Exchange offers brokers a way to transact insurance online and in real time. Apollo works with carriers to digitize insurance products, giving them valuable insights from data that has traditionally been locked away in paper-based processes. Brokerages integrated with the Exchange are able to respond to the changing expectations of buyers and forward-thinking employees.
For more information, visit apollocover.com.
- Learn more about Apollo in the InsurTech Spotlight.
Source: Apollo Insurance Solutions Ltd.Tags: Apollo, automation, Bordereaux, Brokers, InsurTech Spotlight