Next Insurance, a digital insurance company for small businesses, has announced its new status as a licensed insurance carrier. As a carrier, Next Insurance will write policies independently, with more freedom over setting prices, underwriting, and configuring policies.
According to a recent survey, 44% of small businesses operating for at least a year have never had insurance. Next Insurance said its mission was to streamline the insurance purchasing process for small businesses, eliminating the need for insurance agents and offering small business policies that are comprehensive, tailored to business owners’ specific needs, and easy to understand.
“Becoming an independent, licensed insurance carrier became our goal the day we realized that existing insurance companies do not provide the insurance product that entrepreneurs want and deserve,” said Guy Goldstein, co-founder and CEO of Next Insurance. “This is a big step forward towards a more modernized insurance industry. We are unique in our ability to understand the nuances of small businesses and their insurance needs, and being a carrier gives us the freedom to provide the most advanced policies on the market.
“We are impressed with the work of state insurance commissioners, who continue to champion new and innovative ideas to enable insurance offerings that meet the actual needs and demands of each market.”
Next Insurance obtained its first carrier license from Delaware and is currently expanding to all 50 states.