TEL AVIV, Israel, May 25, 2021 /PRNewswire/ -- Apollo's ibott division, a global provider of insurance and reinsurance solutions has signed a Memorandum of Understanding with an Israeli Insurtech, CI LTD. CI's technology will enable Apollo's clients to reduce their fleet and rider insurance costs and turn insurance into a revenue source by offering on-demand insurance.

Chris Moore, Head of ibott at Apollo Syndicate Management Ltd., said, "We are proud and happy that we have found a partner that shares our vision and long-term strategy. CI brings its connected insurance technology to evolve an industry that is rapidly growing and with that growth comes a complex risk exposure that needs a modern and digital solution. The key to that is future-proof technology."