Through an innovative, digital-first approach, NEXT has been enabling small businesses in the US to thrive since 2016.
PALO ALTO, CA., October 30, 2023 /PRNewswire/ — Today, NEXT Insurancea leading small business digital insurer, has achieved an important milestone in reaching 500,000 active small business customers. Throughout NEXT’s journey as a digital insurer, its commitment to the small business community remains paramount, driving all aspects of continuous product innovation, partnerships and integrations.
“I’m incredibly proud of the work the NEXT team has done to stay true to our vision and inspire a culture of continuous innovation,” said Guy Goldstein, CEO and founder of NEXT Insurance. “Insurance should not slow business owners down or cause unnecessary stress. That’s why we’re constantly leveraging technology to enable our customers to easily self-serve and enjoy simple, intuitive insurance buying and servicing processes. We could not have gotten to where we are today without the resilient and important small business community that keeps our economy moving, and we share this moment of celebration, reflection and appreciation with them.”
Today, NEXT serves over 1,300 occupations and has seen significant expansion over the past year in several different small business markets. The company has seen 78% year-on-year growth in financial services, 91% year-on-year growth in insurance specialists, and above all an increase of 102% year-over-year growth in food and beverage customers. NEXT attributes this customer milestone to its digital approach to modernizing insurance and the singular mission of providing simple, affordable and personalized insurance coverage. NEXT strives to meet customers where they are, offering a comprehensive range of coverage options suitable for any small business and providing multiple channels for obtaining insurance policies: online through self-service, through an agent or through the built-in insurance offering on NEXT – NEXT Connecting.
One of NEXT’s customers, ECO kitchen, represents the positive impact digital insurance solutions can have on the small business owner journey. Simileoluwa “Simi” Adebajo built Eco Kitchen with his love for food from his home country Nigeria and she needed to quickly find an insurer that fit her business needs. From his experience with NEXT, Adebajo shares:
“After various frustrations and setbacks with other insurers, switching to NEXT was a real breath of fresh air. Many of my corporate catering clients require proof of insurance before I can secure work, but with NEXT I can get certificate of insurance (COI) in minutes. I have always thought that getting insurance should be a long and difficult process, but my experience with NEXT has been completely different. As a small business owner, I’d rather focus on my own business than deal with a complicated insurance process, and NEXT makes that possible.”
A key driver of NEXT’s continued success is the employees who embody the company’s culture of putting small businesses first. Annie Ryan, Chief of Staff, Agent Business, has been with NEXT for over six years and has seen first-hand the growth of the company and its client base. On her tenure and experience with the digital insurer, Ryan shares:
“From the beginning, even before we secured our first customers, NEXT has had an unwavering commitment to providing a phenomenal insurance experience for small business owners. Our steadfast vision to help entrepreneurs thrive remains at the heart of our entire approach and the progress we’ve made so far reaffirms the importance of our relationship with our clients and agents. I feel so proud to be part of a team that tirelessly innovates and serves our clients and agents in the best possible way every day.”
This milestone comes on the heels of significant business momentum for NEXT. The digital insurer has announced several strategic partnerships with key partners including LegalZoom and Brave penguinand revealed numerous product updates and extensions, including the launch of advertising umbrella coverage/excess liabilityas well as Certificate of Insurance (COI) Analyzer., a machine learning-powered tool that enables free, personalized COIs to display valid insurance coverage to potential employers in less than a minute. By providing customers with simple and effective digital insurance solutions, NEXT is poised to continue its culture of growth alongside the small business community it supports every day.
Watch NEXT’s video for half a million customers here.
For NEXT insurance
NEXT Insurance is transforming small business insurance with simple, digital, affordable and personalized coverage. Trusted by over 500,000 business owners, NEXT offers policies that are easy to purchase and provides 24/7 access to Current insurance certificates, additionally insured, etc. Revolutionizing a historically complex insurance industry, NEXT uses AI and machine learning to simplify the purchasing process and provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Altohas received total 881 million dollars in venture capital financing, has been rated “A-Excellent” by AM Best and is recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.’s Best Managed Companiesand Forbes Best Employers for Startups. For more information visit NEXTInsurance.com. Keep up with the latest with NEXT on Twitter, LinkedIn, Facebook and ours blog.
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SOURCE NEXT Insurance