Apollo Insurance Solutions (APOLLO) has attained coverholder status with Lloyd’s of London.
As a coverholder with Lloyd’s, APOLLO will have access to an expanded product portfolio and the capability to create unique products in response to emerging market opportunities.
“Achieving coverholder status with Lloyd’s of London — the most prestigious name in the insurance industry — allows APOLLO to move even faster,” said APOLLO CEO Jeff McCann. “The 2020s promise a renaissance of entrepreneurship, and APOLLO will be there to support small businesses and individuals with access to digital insurance products.”
“It’s great to see innovative, new insurance companies like APOLLO working with Lloyd’s and we are excited for this partnership,” added Lloyd’s Canada CEO Marc Lipman. “The expertise of the Lloyd’s market, combined with APOLLO’s innovative approach, will make a positive impact on the insurance industry.”
This development comes after APOLLO appointed Marco Andolfatto as its chief underwriting officer last year.
Read more: APOLLO names new chief underwriting officer
“APOLLO has created an entirely modern insurance purchasing experience - digital, instant and paperless - in line with everything else in our daily lives,” said Andolfatto in a statement. “This coverholder status will enable us to rapidly expand our product offering.”