Next Insurance unveils embedded insurance solution for SMEs

InsurTech firm Next Insurance has launched Next Connect, an embedded insurance solution for the software ecosystems of small businesses.

According to Coverager, Next Connect combines AP Intego’s partner-based, multi-carrier model with Next’s ‘unmatched strengths in customer experience, customer case and technology’. Next acquired Intego earlier this year.

Platforms that embed the solution can give their users the choice of an online experience strictly limited to Next products, or an offline experience that allows them to compare products from different carriers with the help of a licensed agent.

Next VP of partnerships Steve Hauck said, “Next Connect creates an unmatched opportunity for our small business ecosystem partners to embed insurance offerings directly into their platforms. We are entering an age where our customers want and deserve the opportunity to purchase the best insurance policies for their business, from a trusted source, and with this new Next Connect offering, we’re able to provide that solution.”

Earlier this year, Next doubled its valuation to $4bn, following the close of a $250m investment round. The company also partnered with retail giant Amazon to help the latter move into the insurance space, in a deal that will provide Amazon Business users with access to customised small business insurance policies.

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