Provides industry-tailored small business insurance policies (liability, auto, workers comp, etc.) online using artificial intelligence to process applications in 10 minutes and to offer 24/7 access to certificates of insurance and claims support. Companies like Intuit use Next Insurance’s white-label service to offer commercial insurance to their own customers. It reached 500,000 active customers in 2023, up from 420,000 in 2022.
Funding: $1.1 billion from Munich Re, Allstate and Allianz X, among others.
Latest valuation: $2.5 billion, according to PitchBook, down from $4 billion in March 2021... Read More
Provides industry-tailored small business insurance policies (liability, auto, workers comp, etc.) online using artificial intelligence to process applications in 10 minutes and to offer 24/7 access to certificates of insurance and claims support. Companies like Intuit use Next Insurance’s white-label service to offer commercial insurance to their own customers. It reached 500,000 active customers in 2023, up from 420,000 in 2022.
Funding: $1.1 billion from Munich Re, Allstate and Allianz X, among others.
Latest valuation: $2.5 billion, according to PitchBook, down from $4 billion in March 2021.
Date of last valuation: November 2023.
Bona fides: Annualized gross written premium revenue reached $920 million in December 2023, up from $809 million in December 2022.
Cofounders: CEO Guy Goldstein, 56, a former jet pilot in the Israeli air force who also cofounded Check, a personal finance and bill payment app that Intuit acquired in 2014 for $360 million; CTO Nissim Tapiro, 53; chief growth officer Alon Huri, 47.
Headquarters: Palo Alto, California. Read Less
