Avetta Partners With NEXT Insurance to Provide Small Businesses in the Supply Chain With Affordable Coverage
Avetta-NEXT partnership helps suppliers save time and money by providing instant access to wide variety of insurance products at competitive rates
OREM, Utah--(BUSINESS WIRE)-- Avetta®, the leading provider of supply chain risk management software, announced today a unique partnership with NEXT Insurance, the leading insurtech company transforming small business insurance, to offer suppliers with affordable and customized coverage policy options. NEXT provides particularly cost-effective insurance options for small businesses, which aligns with a significant portion of Avetta’s supplier network.
Avetta is committed to providing its customers with access to discounted safety-related products and services, and NEXT is the latest partner to join the growing network. Suppliers can link to NEXT’s offerings from their Avetta Connect™ account (Avetta’s technology platform) and purchase or bundle general liability, commercial property, workers’ compensation and other insurance coverage options. Customers can save up to 30% on premiums through NEXT. Suppliers can continue to use their existing trusted insurance partner if the agency becomes affiliated with NEXT.
“This partnership simplifies the process of getting affordable insurance coverage for small businesses,” said Jitesh Chanchani, Avetta SVP of Alliances. “The NEXT partnership is part of our ongoing efforts to save time and money for our network of 125,000 suppliers.”
Trusted by over 300,000 small businesses, NEXT transforms small business insurance by leveraging new technology, such as artificial intelligence and machine learning, to deliver a simple and affordable purchasing experience. In less than 10 minutes, small business owners can get a customized quote for their company that can be adjusted based on personal preferences and receive a certificate of insurance digitally.
“Small business insurance may be necessary, but it doesn’t have to be challenging or costly to obtain. Like Avetta, NEXT is committed to streamlining processes and removing pain points in order for small businesses to thrive,” said John Dwight, Head of Channel Sales at NEXT. “Our partnership allows for more small businesses to obtain an instant, tailored policy without leaving their Avetta account. This allows them to focus on what matters most while knowing they’re securely protected.”
A NEXT survey of more than 30,000 small businesses discovered 44% of applicants who have been in business for a year or more have never had insurance – raising concern for both small business owners and their customers.
Avetta Connect helps companies worldwide manage risk and build resilience in their supply chains – from increasing visibility within the network to ensuring safety and sustainability.
The Avetta SaaS platform helps clients manage supply chain risk and their suppliers to become more qualified for jobs. For the hiring clients in our network, we offer the world’s largest supply chain risk management network to manage supplier safety, sustainability, worker competency and performance. We perform contractor prequalification and worker competency management across major industries, all over the globe, including construction, energy, facilities, high tech, manufacturing, mining and telecom.
For suppliers in our network, our audit and verification services help lower their safety incidents rate by 29%. As a result, more than one-third of members find additional job opportunities within the first year of joining. In addition, our suppliers receive privileged access to the Avetta Marketplace, where dozens of partners offer special discounts for business services like insurance and work gear. Avetta serves more than 500 enterprise companies and 125,000 suppliers across 120+ countries.
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by 300K business owners, NEXT offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by Forbes Fintech 50, JMP Securities InsurTech 50 and Forbes Best StartUp Employers. For more information visit NextInsurance.com. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.