Toronto, ON (Apr. 21, 2020) – Apollo Insurance Solutions Ltd. (“Apollo Exchange”), Canada’s largest online insurance marketplace, has partnered with Berkley Canada, a niche Specialty Insurer, to offer a bind online Life Agents Errors & Omissions (E&O) insurance solution on the Apollo Exchange platform.
The latest insurance solution to be added onto the Apollo Exchange platform is for licensed life agents and licensed accident and sickness agents, with limits up to $2 million. Premium starts at $495, and brokers receive 20% commission. The product is live and available to Apollo Exchange’s network of over 160 property and casualty brokerages.
“We saw a lot of demand for this product from our broker network, and our partners at Berkley Canada put together a really great digital product,” said Apollo Exchange CEO Jeff McCann. “Berkley Canada has been a great partner of ours since we launched their first product, a Tech E&O package, last year — their dedication to the digital channel is admirable.”
As with every Apollo Exchange product, the entire process, from quoting, binding coverage, and issuing policy documents is immediate, online, and paper free. In addition, life agents have the option to pay for the policy in 12 equal monthly payments, making the product more attractive from a business’ cash flow perspective.
“We are excited to be adding an additional product to the Apollo Exchange Platform as it gives us the ability to provide our competitive Life Agents product in a fast, frictionless digital environment,” said Ashley Beales, Berkley Canada’s Senior Vice President of Specialty Insurance. “We look forward to seeing the additional value offering our Life Agents product on the Apollo Exchange creates for our broker partners and insureds.”
Berkley Canada is one of several carriers that offer their products on the Apollo Exchange.
Apollo not only gives brokers more access to products, it also offers a new distribution channel and access to data for insurance carriers who partner with the Apollo Exchange.
“We offer more than a distribution channel to our insurance carrier partners — we offer data-driven insights into the performance of their products,” said McCann.
For more information, please contact:
David Dyck, Head of Marketing and PR
About Apollo Exchange
Apollo Exchange is Canada’s largest online insurance marketplace. Apollo Exchange empowers brokers to instantly quote, bind, and issue policy documents for hundreds of classes of small business in real time, or white label the platform to sell directly from their website. Brokerages integrated with Apollo 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.
About Berkley Canada
Berkley Canada is a niche Specialty and Accident, Health & Travel Insurer that delivers exceptional expertise and service to our broker partners and insureds. We focus on having industry leading expertise in both underwriting and claims and offering flexible coverages, products, and risk solutions. Our ability to make all underwriting decisions locally means our broker partners and insureds are always working with decision makers. This allows Berkley Canada to listen, respond and deliver a solution quickly. For more information, visit www.berkleycanada.com.
Source: Apollo Insurance Solutions Ltd.Tags: Apollo, buy online, InsurTech Spotlight, launch, Quote and Bind