Apollo expands into personal lines with launch of online Renters Insurance

Montreal, QC (June 4, 2020) – Apollo Insurance Solutions Ltd., Canada’s largest online insurance marketplace, has launched their first personal lines product, a Renters Insurance product available to purchase online through the Apollo Exchange platform.

The Apollo Renters Insurance product offers eligible purchasers protection from liability between $1 million and $2 million, with pricing starting at $17 per month. Brokers are paid 20% commission on this product.

“This is a great product that brokers can offer to their clients online, which is especially important given COVID.” said Apollo CEO Jeff McCann. “Apollo’s rich functionality also allows brokers to follow up on quotes and ensure they’re offering the expertise, advice, and counsel their customers need to make an informed buying decision.”

Other coverage highlights include:

  • Additional Living Expense up to $30,000
  • Jewelry up to $10,000 sublimit
  • Bicycles up to $3,000
  • Computers up to $10,000
  • Sewer backup coverage – Optional enhanced with extended water damage coverage, up to property limit. Named Risk package and All Risk package available.
  • Contents up to $100,000 (minimum $10,000)

This product offers brokers the flexibility to pick and choose coverages, tailoring the policy to their clients’ needs.

Canadian insurance brokers are able to access this product along with all of the other products on the Apollo Exchange by registering for free. Apollo Broker partners are also able to white label this product to sell directly off their brokerage website.

“This is an exciting step forward for Apollo, marking our expansion from small business into personal lines,” said McCann. “Expect to see more products added to the Exchange that brokers are able to place in real time.”

As with every Apollo Exchange product, the entire process, from quoting, binding coverage, and issuing policy documents is immediate, online, and paper free.

About Apollo Exchange

Apollo is Canada’s largest online insurance marketplace. Our proprietary platform, the 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 the Apollo Exchange are able to respond to the changing expectations of buyers and forward-thinking employees. For more information, visit 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.

Source: Apollo Insurance Solutions Ltd.

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