Digital insurance provider APOLLO Insurance has teamed up with Century Group, adding the real estate development and property management company to its growing list of partners.
APOLLO – which has collaborated with real estate investment trusts, property management firms, and proptech companies over the years – announced its latest partnership, following a similar tie-up with real estate company Dream Unlimited Corp. in July.
Jeff McCann, founder and chief executive of APOLLO, noted: “APOLLO and Century Group share the common goal of making it easier for residents to access insurance.
“We’re thrilled to be partnering with Century Group, a company that works hard to provide their residents with an exceptional rental experience. This partnership will allow an immediate digital solution for their tenants that will improve their resident experience and provide a simple solution for their property managers.”
The collaboration comes as property owners are reminded about the need for appropriate coverage for their rental properties, including short-term rentals.
Last month, Insurance Bureau of Canada vice president for Ontario and Atlantic Amanda Dean advised prospective lessors to review their policies and notify insurance providers before opening their homes to guests.
Dean pointed out that failing to disclose a change in occupancy can have serious consequences. For example, a policy might be voided if a fire occurs and the insurance company is unaware of the rental. This could leave the owner without coverage for the property, its contents, and potentially their guests’ belongings.
Through its proposition, APOLLO allows property managers to incorporate the insurance purchasing process directly into leasing and renewal workflows.
Drew Temple, vice president of finance at Century Group, commented: “Century Group is proud to announce our collaboration with APOLLO Insurance. APOLLO’s cutting-edge platform will make tracking compliance easy for our property managers and provide our residents with convenient insurance options.”
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