APOLLO Insurance Partners With Proptech Chroma to Offer Embedded Digital Insurance to Tenants and Landlords

VANCOUVER, British Columbia--(BUSINESS WIRE)--APOLLO Insurance, Canada’s leading online insurance provider, has partnered with Chroma Property Technologies Inc., to offer digital insurance products, tailored to tenants and landlords, directly from Chroma’s platform.

APOLLO launched in 2019, and now offers the largest selection of online insurance in Canada through brokers and embedded partnerships like the one with Chroma. In January 2021, APOLLO announced the close of a CAD $13.5 million Series A financing round. After two months of development, Chroma launched its beta product in early 2021 with the mission of making renting a better and more valuable experience for millions of Canadians. As Chroma continues to build out its platform, a public launch is expected later in 2021.

“APOLLO is excited to partner with such a visionary proptech company,” said APOLLO Business Development Manager Yonas Alemyehu. “APOLLO is able to provide forward-thinking companies with an immediate digital solution that not only improves the user experience, it also provides Chroma with valuable data to mitigate their users’ risk.”

Chroma offers renters tools to pay rent flexibly and own their renting history, with the ability to build credit history from rent payments coming soon. For landlords and property managers, it makes accepting, tracking, and managing rent payments and leases easier.

"We're delighted to be partnering with APOLLO to ensure our users can easily access incredible products that protect what's most important to them,” said Myles Shedden, Co-Founder and CEO of Chroma. “As we reimagine the renting experience, whether you're a renter, a property owner, or a property manager, you will now be able to conveniently access APOLLO's products directly in the Chroma platform."

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 Insurance Solutions Ltd. (“APOLLO Insurance”) 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.

For more information, visit: https://apollocover.com/

About Chroma

Chroma is a small and agile team based in the Canadian Prairies. We set out in 2020 to pursue a mission of making renting a better and more valuable experience.

With housing prices becoming untenable for the average household and more than one third of North Americans (more than 100 million people) living in long-term rental arrangements, this could not be a more important problem at a more important time.

To find out more or sign up, visit https://www.chroma.ca/