Next Insurance

Next Insurance provides digital insurance solutions tailored specifically for small businesses. The company’s product offering includes a range of insurance policies, including general liability, professional liability, commercial auto, and workers’ compensation. The company leverages AI and machine learning to streamline the insurance process, claiming to process policy requests within 10 seconds. It incorporates factors such as risk level, location, and other business-specific factors to provide policy proposals. 

In March 2021, Next Insurance acquired AP Intego, a digital agency specializing in small business commercial insurance. The acquisition was intended to expand Next Insurance’s reach to more customers in new business classes. In December 2020, the company acquired Juniper Labs, a startup that automates underwriting for sellers insurance to small businesses, to expand its product offering. 

In October 2024, the company launched standalone professional liability coverage for consultants, offering protection against risks such as errors and omissions, personal injury, and property damage. The coverage can be customized with options for extended reporting periods and prior acts coverage.

Key customers and partnerships

As of November 2023, Next Insurance reported around 500,000 active policyholders, spanning a diverse base of small businesses across various industries, from construction and retail to professional services and fitness.

In March 2021, Next Insurance partnered with Amazon to offer insurance solutions to Amazon Prime Business members, providing tailored insurance coverage through the platform​​. 

In September 2023, Next Insurance partnered with Bold Penguin, an integrated digital solution platform that offers commercial insurance. Through this collaboration, independent insurance agents can access Next Insurance's tailored policies for small businesses, expanding the company's distribution channels.

In November 2023, Next Insurance partnered with Allstate and Allianz X. The partnership with Allstate provided Next Insurance’s products to Allstate’s customers and collaborated on developing a new product for commercial auto insurance. The collaboration with Allianz X aimed to strengthen Next Insurance’s reinsurance relationship with Allianz X.

In March 2024, it partnered with Tensorflight, a property intelligence platform, to leverage Tensorflight’s property data and risk models to enhance Next Insurance’s underwriting process.