Allstate and Allianz are making a sizable bet on the digital transformation of the commercial insurance market with a $265 million strategic investment in Next Insurance, an insuretech startup focused on the small business market.
Tag: small business insurance
Three Out of Four Small Businesses in the U.S. Aren’t Protected Against Claims
Hiscox, the leading small business insurer, found that 75% of small businesses in the US are underinsured, and over 70% do not understand what business insurance covers.
BTIS Announces Launch of New Cyber Insurance Marketplace with Cyber Provider At-Bay in 27 States
Carrier integration will provide full quoting & binding capabilities for over 1,000 business classes Builders & Tradesmen’s Insurance Services, Inc. (BTIS), an insurance intermediary focused on serving small businesses with end-to-end insurance solutions, is pleased to announce the launch of an all-new cyber insurance marketplace with cyber provider At-Bay, providing comprehensive coverage for an expanded… Continue reading BTIS Announces Launch of New Cyber Insurance Marketplace with Cyber Provider At-Bay in 27 States
Next Insurance Hires Former Airbnb Executive as CFO
Next Insurance Inc., a startup that provides insurance to small business owners, has hired a former executive from Airbnb Inc. as its new chief financial officer. Teodora Gouneva took over as CFO of the Palo Alto, California-based company last month after serving as vice president of finance for Airbnb for about two years, where she… Continue reading Next Insurance Hires Former Airbnb Executive as CFO
Pie Insurance Receives Regulatory Approval to Acquire Western Select Insurance Company
Pie Insurance, an insurtech company specializing in workers’ comp insurance for small businesses, announced that Pie Carrier Holdings has received regulatory approval from the Illinois Department of Insurance to acquire Western Select Insurance Company, a property casualty insurance company that is licensed in Illinois, California, and New York, from a subsidiary of Premia Holdings Ltd.… Continue reading Pie Insurance Receives Regulatory Approval to Acquire Western Select Insurance Company
Small Business Insurance Customers Feeling Neglected by Insurers, J.D. Power Finds
The U.S. insurance industry doled out tens of billions of dollars in refunds to customers during the COVID-19 pandemic but, since coverage was not affected, there was no such relief to be had for small business insurance customers. According to the J.D. Power 2021 U.S. Small Commercial Insurance Study℠ released today, that lack of proactive… Continue reading Small Business Insurance Customers Feeling Neglected by Insurers, J.D. Power Finds
Direct Online Small Commercial Insurance Market Poised to Grow to $12B by 2025: Novarica
Over the past decade, selling small commercial insurance directly online to customers has gone from an outlandish idea to a reality. In a new report, Direct Online Small Commercial Insurance: 2020 Update, research and advisory firm Novarica projects significant growth in the market as insuretechs and major carriers alike try to serve America’s 30 million… Continue reading Direct Online Small Commercial Insurance Market Poised to Grow to $12B by 2025: Novarica
Aon Pushes Into Online Insurance for Small Business with CoverWallet Acquisition
Insurance brokerage Aon PLC has agreed to acquire startup CoverWallet, as insurers are competing to figure out how to sell insurance to small businesses online. CoverWallet, founded in 2015, is an online insurance platform that allows small and midsize businesses to get price quotes and buy policies for liability, workers’ compensation and other types of… Continue reading Aon Pushes Into Online Insurance for Small Business with CoverWallet Acquisition
Nationwide Launches New Commercial Digital Storefront, Transforming Small Business Protection Experience
As technology continues to influence consumer and commercial needs, digital enablement is critical for providing speed and ease of conducting business. Nationwide, recently named No. 1 in Customer Satisfaction for Small Commercial Insurance by J.D. Power,* announced today the launch of a new commercial digital storefront, offering small business owners the ability to generate a… Continue reading Nationwide Launches New Commercial Digital Storefront, Transforming Small Business Protection Experience
Shootings Raise Level of Alarm at Small Businesses
At a four-hour meeting last month, Michelle Abdow’s staffers got to experience some of the sights, sounds and even smells they could encounter if someone invaded their office and began shooting. Security experts and local law enforcement officers gave Abdow’s 23 staffers active shooter training — explaining what could happen and what they could do… Continue reading Shootings Raise Level of Alarm at Small Businesses