Toronto, ON (Feb. 2, 2021) – Apollo Insurance Solutions Ltd. (“Apollo”), Canada’s leading online insurance provider, has partnered with Berkley Canada to offer Private Company D&O to brokers and their clients, available for purchase digitally through the Apollo Exchange.
This Private Company D&O product offers limits of up to $2 million and is available for over 1,000 different classes of business. Companies with revenues or assets up to $50 million and up to 100 employees are insurable.
Brokers will receive 20% commission on this product. As with many products listed on the Exchange, brokers are also able to offer a monthly payment option to their clients.
“Private Company D&O is a product that has been widely requested by our broker partners, and we’re excited to offer it through our partners at Berkley Canada,” said Marco Andolfatto, Apollo’s Chief Underwriting Officer. “This is the second of many new products brokers will be able to access on the Exchange this year.”
This is the third product that Berkley Canada and Apollo have collaborated on — Tech E&O launched in November 2019, and Life Agents E&O was added in April 2020.
“We are excited to now have a digital platform to effectively offer our Private Company D&O product to small Canadian companies across the country, said Ashley Beales, Berkley Canada’s Senior Vice President of Specialty Insurance. “Given the current market conditions in executive risk, we believe this alternative distribution method will generate significant value for brokers looking for fast, frictionless placement of Private D&O renewal and new business policies.”
As with every Apollo Exchange product, the entire process, from quoting, binding coverage, and issuing policy documents is immediate, online, and paper-free.
- Learn more about Apollo in the InsurTech Spotlight.
For more information, please contact:
David Dyck, Head of Marketing and PR
About Apollo Exchange
Apollo is Canada’s leading online insurance company. Our proprietary platform, the Apollo Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, Apollo leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small businesses and individuals without human intervention. Through traditional agents and embedded finance partnerships, Apollo is redefining the distribution of insurance. For more information, visit apollocover.com.
About Berkley Canada
Berkley Canada is a niche Specialty and Accident, Health & Travel Insurer that delivers exceptional value 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.
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.Tags: Apollo, liability, partnership