InsurTech Spotlight: Apollo Exchange

Apollo Exchange

Company: Apollo Exchange

Website: xe.apollocover.com

Business Category: A hybrid of insurance practitioner and technology provider

Maturity Status: Startup (less than 3 years since product went into production)

Product or Service: A digitally enabled, licensed MGA marketplace

Area: N/A

Business description:

Apollo Exchange is a digitally enabled insurance marketplace, empowering brokers, consumers, and underwriters to apply for, quote, and bind insurance policies online. Our vision is an industry in which our computers do the work so our people can build relationships.

What makes us an InsurTech:

The Apollo Exchange is an InsurTech company aggregating online product access for the insurance industry and consumers. As a platform and MGA, the Exchange brings technology and product together to empower the broker channel. We recognize the pain of accessing multiple portals. Using our proprietary platform, brokers are able to browse products, view product specs, apply for, and bind insurance policies from multiple insurance companies. The platform also enables brokers to start an application, then forward the partially completed app to a client for them to complete.

Major features & technology used:

The Exchange is a combination of three areas:

  1. A broker-facing Marketplace which aggregates insurance company portals.
  2. White labeled products that allow consumers to buy insurance from broker partner websites.
  3. ApolloCover, a consumer-facing directory of Apollo brokerage partners. The entire environment is cloud based and all product forms are mobile friendly.

We believe in empowering the broker channel by providing it with a variety of digital insurance products. Brokers can access our suite of products through the Apollo Exchange Marketplace. Brokerages can distribute products directly to consumers through their website with the Apollo white labelled solution. Through Apollo Cover, our marketing vehicle and digital brokerage listing site, we route leads to our Apollo broker partners.

About Apollo Exchange

Apollo Exchange is a free eCommerce marketplace that enables brokers to  instantly bind insurance products.

For more information, or to sign up today and start selling insurance online, please visit xe.apollocover.com.

Source: Apollo Exchange