NEXT Insurance Advances Innovation, Improves Technology for Pay-as-You-Go Solution For Workers' Compensation

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Sep 20, 2022, 09:00 ET

Enhanced offering allows payroll partners to offer better cash flow management and more accurate pricing to their small business customers

PALO ALTO, Calif., Sept. 20, 2022 /PRNewswire/ -- NEXT Insurance, a leading digital insurtech company transforming small business insurance, today announced a state of the art upgrade to its pay-as-you-go offering that provides customers and partners with a seamless, simpler experience. The modernized solution, built in-house, was developed to solve the common pain points often experienced by traditional pay-as-you-go solutions. Now, small businesses conveniently have the option to bundle the purchase of multiple lines within the NEXT funnel. The offering uses Stripe Financial Connections to easily link a customer's bank account making payments frictionless.

"Over 400,000 small businesses rely on NEXT, and we continue to put their needs first by investing in innovation that simplifies their experience," said Eric Harnden, VP of Partnerships and Head of Agency at NEXT Insurance. "The technological upgrades to our pay-as-you-go offering put less of a strain on the policyholder by providing access to bundled coverage, simplified automatic payments linked to payroll for both direct customers and users across our ecosystem of partners. This seamless experience takes the burden off of the customer and allows them to focus on what matters the most: growing their business."

This new solution demonstrates the power of digital, embedded insurance and the value it brings to small businesses through the financial ecosystems they regularly use. NEXT's proprietary pay-as-you-go offering pulls data from over two hundred payroll partners and integrates directly into top providers like Intuit QuickBooks, Gusto and Square.

NEXT's new technology also gives small business owners access to a variety of post-purchase benefits for efficient policy servicing, including the ability to easily add users to their accounts, improved policy management and payroll administration actions, certificate creation, and access to certificate and quote history.

NEXT was founded on the premise that digital and technological advancements could bring meaningful change to a centuries-old industry. This enhanced pay-as-you-go solution is just one example of the significant benefits that technology-first insurtechs can deliver to small businesses.

To learn more about partnering with NEXT and the value of its embedded insurance offering, NEXT Connect, check out NEXT's partner page.

About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by 420K business owners, NEXT offers policies that are easy to buy 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 provide more affordable coverage. 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 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 Twitter, LinkedIn, Facebook and our blog.