INSURANCE TECHNOLOGY

APOLLO Insurance and CAARY Collaborate to Offer Access to Embedded Digital Insurance

APOLLO Insurance | July 15, 2021

APOLLO Insurance, Canada’s largest online insurance provider, has collaborated with CAARY, a financial platform for small and medium-sized businesses (SME), to provide visitors to caary.com with customized digital insurance products.

APOLLO Insurance, which debuted in 2019, currently has the biggest selection of online insurance in Canada, thanks to brokers and integrated partnerships. Consumers can obtain a quote and buy insurance via APOLLO in five minutes, from any device, 24 hours a day, seven days a week. As a result, CAARY is changing how Canadian small businesses get credit and manage their spending and expenses. CAARY will use its partnership with APOLLO to provide its clients with digital access to value-added insurance products.

CAARY, which will launch its complete platform offering this autumn after a private beta this summer, is a first-of-its-kind corporate credit card solution for Canada’s more than 850,000 SMEs that still depend on personal credit. CAARY, which uses the renowned Mastercard network, offers same-day credit card acceptance, no personal guarantee requirements, and near-instant virtual card issuance, with physical cards issued on demand. In addition, the CAARY senior leadership team, made up of former senior banking executives and entrepreneurs, has developed a model for assessing and offering credit to SMEs based on cash flow and assets rather than credit history, a novel approach that is expected to benefit this underserved market in Canada significantly.

The APOLLO Exchange, APOLLO’s proprietary technology platform, transacts insurance business in real-time, using vast data and powerful algorithms to quote, collect a payment, generate and distribute policies. As a result, APOLLO enables thousands of small businesses and individuals to purchase online without the need for human intervention.

About APOLLO Insurance
Apollo Insurance Solutions Ltd. (“APOLLO Insurance”) is the largest online insurance company in Canada. The APOLLO Exchange, our unique platform, enables insurance brokers and their clients to buy their coverage instantly, from anywhere, on any device, 24 hours a day, seven days a week.

Unlike traditional paper-based procedures, APOLLO uses vast data and sophisticated algorithms to quote, collect money, and issue policies for thousands of different kinds of small businesses and individuals without the need for human intervention.

APOLLO is reinventing insurance distribution through traditional agents and embedded finance partnerships.

About CAARY
CAARY is a financial technology company with a mission to reimagine products, processes, and the client experience to transform and streamline credit and banking for businesses. CAARY is a fully digital corporate card that is more than just a credit card. CAARY’s expenditure management and spend control features are intended to give you back control and time so you can focus on growing your business.

CAARY has developed the next generation of financial tools to improve the efficiency of your company credit and banking experience, just like the rest of your digital life.

Spotlight

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

Spotlight

As 2022 comes to a close, insurance companies are facing significant price losses across their portfolios, particularly within long-duration fixed income. On the horizon are the risks of a global recession, peaking fundamentals, persistent inflation and energy crises, particularly in Europe.

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Insurity and Utah Business Insurance Company | November 10, 2022

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