NEXT Insurance provides small business insurance with simple, digital and affordable coverage tailored to the self-employed. It offers policies that it says are easy to buy and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees.
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.
NEXT Insurance Intuit Inc. just announced the launch of NEXT Connect for Intuit QuickBooks, an embedded insurance solution that provides customers with seamless access to digital-first insurance products within the QuickBooks ecosystem.
QuickBooks is an accounting software package developed and marketed by Intuit. First introduced in 1983, QuickBooks products are geared mainly toward small and medium-sized businesses and offer on-premises accounting applications as well as cloud-based versions that accept business payments, manage and pay bills, and payroll functions.
QuickBooks is the accounting software of choice for more than 29 million small businesses in the U.S. They have over 80% market share and have a diverse product offering suited to help both small businesses QuickBooks Desktop, and Quickbooks Online and larger growing companies (QuickBooks Enterprise) and everything in between (QuickBooks Pro, QuickBooks Premier)
As QuickBooks’s premier insurtech with a proprietary pay-as-you-go system that integrates directly with Intuit QuickBooks, this embedded solution enables small businesses to quickly set up a plan that seamlessly handles payments, streamlines cash flow and ensures they only pay for the coverage they need.
Small businesses and accountants can obtain insurance quotes and bind coverage without leaving their QuickBooks account. Additionally, users can benefit from NEXT’s technologically advanced, in-house pay-as-you-go offering for workers’ compensation, consult with a trusted insurance advisor as well as access multiple A-rated national carrier products, including NEXT.
Guy Goldstein, CEO of NEXT Insurance said that “Our partnership with Intuit QuickBooks enables NEXT to ease significant pain points for the small business community by providing easy access to customized coverage and payments directly tied to a company’s payroll for their workers’ compensation policies – all without leaving their Intuit QuickBooks accounts.”
NEXT’s pay-as-you-go offering was built in-house to provide small businesses with a convenient option to pay for their insurance “as they go” versus all up front, preserving cash flow and reducing the likelihood of year-end audits.
NEXT’s pay-as-you-go offering now uses Stripe Financial Connections to link to a customer’s bank account and automatically handle payments on an ongoing basis. Customers benefit from being able to easily set up billing and having it run automatically along with their payroll. All of their policy, billing and payment information is in one place to easily manage
Jessica Hidalgo, Group Product Manager at Intuit QuickBooks said “NEXT Connect’s embedded insurance offering and pay-as-you-go solution allow us to not only provide QuickBooks customers with seamless access to trusted insurance carriers, but also offer payment options adjusted to a company’s payroll.”