InsurTech News

APOLLO Insurance Partners With Proptech Chroma to Offer Embedded Digital Insurance to Tenants and Landlords

APOLLO Insurance Partners With Proptech Chroma to Offer Embedded Digital Insurance to Tenants and Landlords

APOLLO Insurance, Canada’s leading online insurance provider, has partnered with Chroma Property Technologies Inc., to offer digital insurance products, tailored to tenants and landlords, directly from Chroma’s platform.

“APOLLO is excited to partner with such a visionary proptech company”

APOLLO launched in 2019, and now offers the largest selection of online insurance in Canada through brokers and embedded partnerships like the one with Chroma. In January 2021, APOLLO announced the close of a CAD $13.5 million Series A financing round. After two months of development, Chroma launched its beta product in early 2021 with the mission of making renting a better and more valuable experience for millions of Canadians. As Chroma continues to build out its platform, a public launch is expected later in 2021.

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“APOLLO is excited to partner with such a visionary proptech company,” said APOLLO Business Development Manager Yonas Alemyehu. “APOLLO is able to provide forward-thinking companies with an immediate digital solution that not only improves the user experience, it also provides Chroma with valuable data to mitigate their users’ risk.”

Chroma offers renters tools to pay rent flexibly and own their renting history, with the ability to build credit history from rent payments coming soon. For landlords and property managers, it makes accepting, tracking, and managing rent payments and leases easier.

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“We’re delighted to be partnering with APOLLO to ensure our users can easily access incredible products that protect what’s most important to them,” said Myles Shedden, Co-Founder and CEO of Chroma. “As we reimagine the renting experience, whether you’re a renter, a property owner, or a property manager, you will now be able to conveniently access APOLLO’s products directly in the Chroma platform.”

APOLLO’s proprietary technology platform, the APOLLO Exchange, transacts insurance business in real time, and leverages extensive data and sophisticated algorithms to quote, collect payment, create and deliver policies. Thousands of types of small businesses and individuals are able to buy online without human intervention.

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