Apollo and Yardi in new embedded insurance partnership
Canadian insurtech Apollo Insurance has teamed up with real estate software provider Yardi to embed insurance products into their flagship property management platform.
With its proprietary technology, Apollo Insurance leverages extensive data and algorithms to offer quotes, payment collection and policy delivery instantly without the need for human intervention. It makes the Vancouver-based outfit an ideal choice for embedded insurance, which is becoming increasingly popular as consumers demand straightforward, frictionless digital experiences in every aspect of their lives.
The company’s latest partnership will see its insurance offering embedded into Yardi Voyager, a web-based property management platform that gives landlords access to analytics and accounting tools. Apollo joins over 300 other collaborators already integrated into Yardi’s flagship software.
Bright future for insurtech partnerships in property market
Apollo CEO Jeff McCann says: “Apollo is excited to partner with such an innovative real estate software solutions company. Yardi shares Apollo’s consumer-centric focus and vision of an industry where technology does the work, so that people can build relationships.”
Peter Altobelli, Vice President and General Manager of Yardi Canada, adds: “Apollo’s digital-first approach to insurance aligns with Yardi’s mission to provide our clients with superior products and outstanding customer service. We are excited to bring Apollo’s digital insurance fulfilment to our clients.”
The rental market is an important new market for insurtechs: earlier this month, we revealed how a German insurtech startup that was changing the way we think about security deposits had raised €1.9mn in seed funding. Instead of the traditional method of a cash deposit being squirrelled away for the duration of the tenancy, Garentii are empowering landlords to give tenants an alternative in the form of insurance costing as little as €3 per month.
As embedded insurance grows, consumers can expect to see more insurance offerings delivered seamlessly at the point of sale. According to InsTech London, the size of the embedded insurance market for P&C insurers alone could be worth more than US$700bn by 2030.
