Apollo Insurance has struck a partnership with independent insurance provider CHES Special Risk.
Through the partnership, CHES Special Risk will offer its logging truck insurance on the Apollo Exchange. As with any product offered on the exchange, the entire process – from quoting, binding coverage, and issuing of policy documents – is transacted online. Brokers and insurers are also paid in real time the moment the policy is bound.
CHES Special Risk, established 2004, is a managing general agent and wholesale broker. In 2009, it became a fully accredited Lloyd’s coverholder.
“At Apollo, we believe in empowering the broker channel,” said Apollo CEO Jeff McCann. “With this product from our partners at CHES Special Risk, our broker users can spend less time on paperwork and more time building relationships.”
McCann added that Apollo is more than just providing technology or distribution with its insurer partners; the company also offers partners insights into the performance of their products.
Last month, AXIS Insurance collaborated with Apollo Insurance in a similar partnership to provide the former’s cyber liability insurance through the latter’s exchange.