Buy-online insurance for Trades and Contractors has launched as a new product offering from APOLLO Insurance, in partnership with Definity Financial Corporation
APOLLO Insurance Solutions, a leading Canadian digital insurance provider, has partnered with Definity Financial Corporation to add coverage for Trades and Contractors to APOLLO’s catalog of products. Definity is a Canadian multi-channel insurance company, which was formed in 2021 to deliver on the evolving needs of the industry.
“APOLLO is excited to expand our coverage offerings to the quickly-growing Trades and Contractors industry. It’s our mission to make the insurance buying process effortless, in-line with modern consumers’ expectations”
This product serves APOLLO’s core product vertical of Construction and Contractors. APOLLO’s other verticals include Home, Tenant, Business and Professional Services, and Health, Beauty and Wellness.
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This new offering of Trades and Contractors Insurance includes Commercial General Liability (CGL) with up to $5M limits for companies generating $3M or less in Canadian revenue. Eligibility classes for the product include plumbers, electricians, HVAC, and many more, offering qualified businesses a Tools and Equipment Floater of up to $150K, and Tenant Legal Liability of up to $500K. Companies are also covered for up to three operations under the same business name, and have the option of monthly or annual payments. As with all APOLLO products, coverage is flexible and businesses can select the options that are specific to their needs. This product is available in Alberta, British Columbia, Ontario, New Brunswick, Nova Scotia, and Prince Edward Island.
APOLLO’s proprietary technology platform, the APOLLO Exchange, provides insurance transactions in real-time. It leverages extensive data and sophisticated algorithms to quote, create, deliver, and collect payment for each and every policy. Thousands of brokerages, small businesses, and individuals are able to buy online coverage without human intervention.
Insurance brokers can access all of APOLLO’s digital products on the Broker Portal by registering for free. The entire process, from quoting to binding coverage, to issuing policy documents, is immediate, online, and paper-free.
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“APOLLO is excited to expand our coverage offerings to the quickly-growing Trades and Contractors industry. It’s our mission to make the insurance buying process effortless, in-line with modern consumers’ expectations,” stated Jeff McCann, Chief Executive Officer & Co-Founder of APOLLO. “Definity and APOLLO share a deep commitment to using technology to deliver a seamless insurance experience, regardless of the distribution channel or industry.”
Definity Financial Corporation, parent company of Economical Insurance Company, is one of a select group of approved Canadian insurance carriers that support APOLLO products through the APOLLO Exchange. In March 2022, APOLLO announced it had secured a Series B funding round from Definity.
APOLLO has secured significant funding from Definity Financial Corporation, and signed a strategic partnership with them to distribute an enhanced range of digital insurance products.
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