NEXT Insurance Launches Business Owner's Policy: Single Policy to Deliver Seamless Management for Agents and Small Business Owners

Instant coverage for brick-and-mortar businesses, combining liability and property insurance

PALO ALTO, Calif., June 4, 2024 /PRNewswire/ -- Today, NEXT Insurance, a leading digital insurer transforming small business insurance, announced the availability of its Business Owner's Policy (BOP), a comprehensive insurance solution designed with the specific needs of small businesses in mind. Building upon NEXT's AI-powered, proprietary platform and underwriting expertise, NEXT's BOP offering enables agents to easily provide their small business clients with liability and property insurance coverage under a single policy that is simple to quote, bind and manage.

NEXT's BOP is particularly ideal for 'main street' small businesses, including restaurants, retail, and professional services. It combines the insurance coverage they most often need to protect their standard business operations and allows agents a comprehensive, more effective way to serve their customers and earn commissions without spending time managing multiple standalone policies.

"At NEXT, we understand the challenges small business owners face, particularly with navigating complex insurance decisions," said Jack Ramsey, Vice President of Agent Business at NEXT Insurance. "Our mission is to transform this often daunting process into a more manageable one by empowering both entrepreneurs and their dedicated insurance agents with digital tools that simplify these choices. Our Business Owner's Policy exemplifies the transformative power of digital solutions in modernizing traditional insurance practices."

For restaurant owners, NEXT's BOP not only fulfills necessary insurance requirements into one single policy but also allows for key add-on coverages like Liquor Liability, Cyber, and Employment Practices Liability Insurance (EPLI) to be easily added for individual policy customization. For Professional Services, it protects lease agreements and other risks associated with managing an office.

Through new updated features within NEXT's agent portal, agents experience improved coverage selection, policy customization, and simple, clean coverage summaries to deliver an unparalleled experience. The agent portal also includes a liability and property tab navigation bar, supporting intuitive interactions. NEXT's BOP is now available in *10 states and can be purchased directly through the NEXT website, through an appointed agent, or embedded through a trusted small business partner. Please visit the website for more information about NEXT and its BOP offering.

About NEXT Insurance

NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by over 500,000 business owners, NEXT offers policies that are easy to buy and provides 24/7 access to 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 provide more affordable coverage. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $1.1 billion in venture capital funding, is rated "A- Excellent" by AM Best and has been recognized by CNBC Disruptor 50, Forbes Fintech 50, Inc.'s Best-Led Companies, and Forbes Best StartUp Employers. For more information, visit NEXTInsurance.com. Stay up to date on the latest with NEXT on X, LinkedIn, Facebook and our blog.

*DISCLAIMER: NEXT's BOP is not available in all states; NEXT's BOP is available in Arkansas, Colorado, Georgia, South Carolina, Minnesota, Illinois, Pennsylvania, North Carolina, Ohio, and Maryland. NEXT's BOP will become available in additional states upon regulatory filing approval.

*DISCLAIMER: Insurance policies from Next Insurance, Inc. & affiliates and third party insurers, pursuant to its licenses. To the extent permitted by law, applicants are individually underwritten, premium is based on many factors, not all applicants may qualify. Individual rates and savings vary and are subject to change. Policy documents govern, terms & exclusions apply.

Media ContactKerry OgataDirector of Corporate Communications
301-717-4224
kerry.ogata@nextinsurance.com

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SOURCE NEXT Insurance