The launch of professional liability coverage follows a period of exponential growth for the company. In its 2018 Annual Report, Next Insurance reported that it had achieved a written premium run-rate of over $44 million, covered over 40,000 businesses, and expanded its core liability product offering to 48 states. These milestones signal success in the company's mission to help entrepreneurs thrive by providing simple, affordable, and tailored insurance policies to the widest selection of small businesses in the country.
"We want to be the one-stop-shop for any small business," said Guy Goldstein, CEO and Co-Founder of Next Insurance. "Providing support for over 1,000 new business types and adding professional liability coverage are key steps in our mission to disrupt insurance as small business owners know it, making it simple to access, affordable to own and tailored to individual needs. Small businesses are the backbone of the U.S. economy, and we are delighted to lead the digital small business insurance market and support entrepreneurs on such a wide range of ventures."
The company is currently offering professional liability coverage to architects, engineers, real estate agents and insurance agents, among other CoBs. Business owners can select the level of protection and limit that's right for them according to their desired level of risk and budget.
About Next Insurance:
Next Insurance is transforming small business insurance with simple, affordable coverage, tailored to the needs of each class of business. Next Insurance offers policies that are easy to buy with instant, 24/7, online access to services such as Live Certificates of Insurance, Additional Insured, and more with absolutely no extra fees. Revolutionizing traditional insurance processes, Next Insurance is utilizing advanced technology to offer the industry's most innovative small business insurance policies. Founded in 2016 by a team of serial entrepreneurs, the company is headquartered in Palo Alto and has received a total of $131 million in venture capital funding from Redpoint Ventures, Nationwide, Munich Re, Markel, American Express Ventures, Ribbit Capital, TLV Partners, SGVC, and Zeev Ventures. To see how Next Insurance performed in 2018, click here. To learn more about Next Insurance becoming a carrier, please click here. For more information about the company, visit Next-Insurance.com.