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APOLLO Insurance Partners With Homewise to Offer Homebuyers Access to Integrated Digital Insurance

Apollo Insurance Solutions Ltd | September 15, 2021

Apollo Insurance Solutions Ltd. (“APOLLO Insurance”), Canada’s leading online insurance provider, has partnered with Homewise to offer immediate digital insurance products, specifically tailored to Canadian home buyers that use their website each year.

Launched in 2019, APOLLO Insurance now offers the largest selection of online insurance in Canada, through brokers and integrated partnerships like this one. Through APOLLO, consumers can get a quote and purchase insurance in five minutes, from any device, 24/7. Homewise’s mission is to help Canadians save thousands on their mortgages, offering the best mortgage rates in Canada through their list of lenders. Homewise can now offer digital insurance to its thousands of users, through APOLLO.

Homewise is exceptional at providing Canadians the best mortgage rate and services, creating a better experience for home buyers while also giving users the opportunity to save money,APOLLO is excited to partner with Homewise, as users can now access the right insurance product for them, entirely online, through APOLLO.

-  Director of Business Development Jill Carberry-Feldman.
 

Launched in 2018, Homewise wanted to provide Canadians with a better mortgage process that puts the buyer first. Homewise introduced a simple mortgage process with the goal of saving Canadian’s time, confusion, and money. With the Homewise free platform, they do the work for their users, negotiating with their large list of lenders to find them a great mortgage that meets their unique needs. Homewise has provided mortgage advice to clients across Canada, with over $10 billion of home transactions.

Homewise is changing the face of the home buyer marketplace and will continue to help Canadians move into their homes easily, confidently, and with extra money in their pocket.

“We are excited to partner with APOLLO to provide even more options to our clients in their home buying journey while simplifying their experience. Focusing on our goal of saving clients time, confusion, and a lot of money,”

- Co-Founder and CEO Jesse Abrams.


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.

About APOLLO Insurance
APOLLO is Canada's leading online insurance provider. Our proprietary platform, the APOLLO Exchange, allows insurance agents and their customers to purchase their policy immediately, from anywhere, on any device, 24/7. Unlike traditional paper-based processes, APOLLO leverages extensive data and sophisticated algorithms to quote, collect payment, and issue policies for thousands of types of small business and individuals without human intervention.Through traditional agents and embedded finance partnerships APOLLO is redefining the distribution of insurance.


About Homewise
Homewise makes the mortgage process simple, all with the goal of saving Canadian’s time, confusion, and a lot of money. After applying online in only 5 minutes, Homewise searches the market of over 30 banks and lenders to find borrowers their best mortgage – tailored to their specific needs. Borrowers are also set up with a personal Homewise Advisor to guide them at each step. Whether it’s pre-approval, approval, refinance, or switch, Homewise makes getting the best mortgage simple.

Spotlight

Why evolving consumer behaviors require changes from insurance providers

It’s no secret that the global pandemic has upended everyone’s life. We know this anecdotally from our own experiences—more online shopping with curbside pickup orders, ordering takeout and delivery versus in-person dining, and changing media consumption. And let’s not forget remote working and learning. These experiences are more than simply anecdotal; McKinsey has written about the more specific effects of the pandemic on consumer behavior and needs. In short, they write: “behavior changes will reshape consumer decision journeys and companies will need to adapt fast.”

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Spotlight

Why evolving consumer behaviors require changes from insurance providers

It’s no secret that the global pandemic has upended everyone’s life. We know this anecdotally from our own experiences—more online shopping with curbside pickup orders, ordering takeout and delivery versus in-person dining, and changing media consumption. And let’s not forget remote working and learning. These experiences are more than simply anecdotal; McKinsey has written about the more specific effects of the pandemic on consumer behavior and needs. In short, they write: “behavior changes will reshape consumer decision journeys and companies will need to adapt fast.”

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Annex Risk Selects Socotra Connected Core for Streamlined Policy Administration, Setting a New Standard in High Risk Homeowners Insurance

Businesswire | July 28, 2023

Socotra, the leading provider of modern, cloud-based solutions for technology-driven insurers, today announced that high-risk homeowners provider Annex Risk is processing business with Socotra. Annex Risk has successfully implemented the true cloud-native insurance policy core platform, Socotra Connected Core, and is now live, offering a digitally-forward approach to close critical coverage gaps in coastal Texas, Florida, and the Eastern Seaboard. Annex Risk’s innovative platform combines algorithmic underwriting and capacity, empowering retail agents to quote and bind high-risk homeowners insurance in less than 2 minutes. “Technology is core to our business, not an enabler - we needed the most modern, continuously improving policy administration system we could find. No-code/low-code platforms were less compelling to us than Socotra’s flexible, API-centric solution,” said Annex Risk Co-Founder Charlie Sido. "Socotra's API-driven platform allows us to configure the entire policy lifecycle natively, while also seamlessly integrating with external solutions for payments, e-signatures and inspections. This flexibility ensures our ability to adapt and scale as the business evolves, while also providing a foundation for future innovation.” Socotra's cloud-based architecture allows Annex Risk to eliminate significant operational overhead and leverage Socotra's ongoing investments in the platform. This partnership has expedited Annex Risk’s market entry, enabling them to sell their complex product in four states within six months. As a technology startup, Annex appreciates the capital-efficient and self-sufficient nature of Socotra's implementation, allowing them to maintain control and agility while minimizing reliance on third-party consultants. "We are thrilled to have Annex Risk join our ecosystem of innovative insurance providers," said Dan Woods, CEO of Socotra. "By leveraging Socotra Connected Core, Annex Risk can offer their retail partners a streamlined and digitized experience that sets them apart in the market. Additionally, Socotra's modern underpinnings will future-proof Annex Risk's investment as they continue to grow and evolve their business." Socotra offers a game-changing alternative to legacy underwriting systems that rely on emails, PDFs and proprietary tools, resulting in quote times that could stretch into days. With Socotra's powerful capabilities, Annex Risk can deliver an instant quote and bind experience, aligning with retail insurance agents’ expectations and setting a new standard in the industry. About Annex Annex is a leading provider of homeowners insurance for properties with significant natural catastrophe exposure. Through its partnership with over two thousand retail agents, Annex focuses on closing critical coverage gaps in coastal areas from Texas up the Eastern Seaboard. Annex's sophisticated algorithmic underwriting and capacity enable retail agents to quote and bind high-risk homeowners insurance in less than 2 minutes. With a technology-driven approach, Annex leverages innovative solutions to deliver an exceptional customer experience. About Socotra Socotra provides insurance companies with the flexible modern core platform and ecosystem they need to adapt, innovate, and grow their business. By leveraging solutions such as Socotra CorePlus and Socotra Connected Core, insurers can streamline policy administration, enhance digital experiences, and deliver products to market faster. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable.

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Betterview and EagleView Launch Strategic Property Intelligence Alliance

Globenewswire | July 27, 2023

Betterview, the insurtech company Property & Casualty insurers rely on to identify and manage real property risk, and EagleView, the leading provider of aerial imagery and accurate property measurements, today announce a strategic alliance. EagleView's imagery will be integrated into Betterview's property intelligence platform to help insurers better understand a customer’s total property risk by providing broader, data-driven intelligence for both underwriters and claims professionals. Additional benefits of the alliance will include the ability for EagleView customers to gain direct access to Betterview’s property insights, scores, and data. “EagleView chose to join forces with Betterview and their cutting-edge property analytics," said Piers Dormeyer, CEO of EagleView. “We’re launching an alliance that leverages the expertise of both companies to scale our innovative solutions and deliver unparalleled property intelligence to our customers.” Customers across both product platforms will benefit from these advanced capabilities: Greatly Expanded Imagery Coverage: Imagery coverage now encompasses 94% of the US population with over 1 billion ultra-high resolution property images. AI Detections: Access to property condition attributes, including Roof Age, from the most advanced computer vision and machine learning in the industry. Predictive Risk Scores: From roof conditions to weather-related perils and vulnerability, insurers will get the most accurate predictors of loss—pre-filled in many states. Historical Image Library: Access to nearly 20 years of historical imagery will deliver expanded intelligence on property changes over time. A significant beneficiary will be Betterview’s new Roof Age product. Rapid Post-CAT Event Imagery: When a storm strikes, EagleView mobilizes its fleet to capture imagery of the impacted areas, quickly producing before and after views of the event. This imagery will power Betterview’s CAT response solution, further supporting fast decisions and early assistance for homeowners. Predictive CAT Response Capabilities: Customers will access solutions to remotely identify vulnerability, predict impact, quantify damage, and help homeowners recover faster from severe weather events. “At Betterview we are continuously looking for ways to improve our customer’s ability to accurately assess property risk,” said David Lyman, Chief Executive Officer and Co-Founder of Betterview. “EagleView’s extensive, 20-year library of high-quality aerial imagery paired with our AI-powered property insights greatly expand our customers’ total understanding of property risk, both pre- and post-claim.” The combined strength of EagleView and Betterview represents a major leap forward for insurance companies in their transition from repair and replace to predict and prevent. “The addition of EagleView imagery is not just great for our customers in the short-term, but also will lead to long-term enhancements and benefits for our customers and the insurance market,” says Dave Tobias, COO and co-founder of Betterview. “EagleView’s ultra-high-resolution imagery allows us to continue to develop the most accurate AI models, risk scores, and overall property insights. Ultimately, we can build the most innovative tools to solve tough problems for insurance.” About Betterview Betterview is the Property Intelligence & Risk Management Solution the insurance industry depends on to identify and mitigate property risk, improve underwriting and inspection efficiency, and build a more transparent customer experience. Applying Artificial Intelligence (AI) and computer vision to aerial imagery and geospatial data, Betterview generates the most accurate property information insurers trust to automate pricing, underwriting, and renewals while focusing strategic action on critical properties. For more information, please visit www.betterview.com About EagleView EagleView is a leader in geospatial technology, providing solutions that transform the way our customers work. EagleView has the largest geospatial data and imagery library ever assembled, encompassing 94 percent of the U.S. population. EagleView’s unique technology portfolio comprises more than 300 patents, enabling our highly-differentiated offerings of software, imagery, and analytics products for multiple industries.

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NEXT Insurance Revolutionizes Agent Experience with Fully Customizable Coverage for Small Businesses

PR Newswire | September 21, 2023

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Businesswire | July 28, 2023

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Globenewswire | July 27, 2023

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PR Newswire | September 21, 2023

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