grow its current digital footprint. Economical Insurance, Sonnet Insurance Company, Petline Insurance Company, and Family Insurance Solutions are all subsidiaries of Definity. Additionally, the corporation has its own digital broker portal known as Vyne.
APOLLO Insurance services more than 6,000 independent Canadian brokers and over 150 group partners throughout the country, with the exception of Quebec. The MGA quotes, collects payments, and issues insurance entirely digitally using its own platform, APOLLO Exchange.
Fabian Richenberger, executive vice president of commercial insurance at Definity, expressed delight over the partnership. He said, “Definity is one of Canada’s leading digital insurance providers, and this partnership with APOLLO will allow us to extend the opportunities for a simpler insurance experience for both brokers and their customers”. He added, “We believe that the scalable platform that APOLLO provides, combined with our proven track record in digital innovation and strong underwriting, will help strengthen our commercial distribution capabilities.”
Jeff McCann, APOLLO co-founder and CEO, expressed optimism over the collaboration. He said, “Our partnership with Definity provides us with resources and opportunities to expand our footprint in the small to midsize business market. Definity and APOLLO share a deep commitment to using technology and software to deliver an effortless insurance experience to customers and our retail broker partners.”
APOLLO announced a Series B funding with Definity following the announcement of Definity’s acquisition of a minority stake in APOLLO. According to the MGA, the fresh financing round would aid in the advancement of its online insurance platform.
