Next Insurance, an insurtech seeking to transform small business insurance, announced on signed a definitive agreement to acquire AP Intego, a digital insurance agency that provides a suite of small commercial insurance products to small business software ecosystems in the U.S. Next Insurance reported that through the acquisition it and AP Intego will help streamline how small businesses shop for, purchase and pay for products that help insure their livelihoods, their employees and their assets.
While sharing more details about the acquisition, Guy Goldstein, CEO and Co-Founder of Next Insurance, commneted:
“This acquisition marks an industry-defining milestone in our efforts to build a market-leading one-stop-shop for small business insurance. The combination of AP Intego’s experience in insurance product distribution through partners and pay-as-you-go infrastructure combined with our approach to digital customized coverage will provide more customers with seamless access to innovative insurance products.”
Steven Hauck, Co-Managing Director at AP Intego, then concluded:
“Adding Next Insurance to our platform enhances the overall value proposition we are delivering our partners and their customers and allows us to truly innovate within small business insurance. In order to keep up with our partners’ insatiable appetite for a superb customer experience, Next Insurance provides us digital product flexibility for the benefit of both our partners and their customers. We’re thrilled about this new chapter in our history.”
Founded in 2016, Next Insurance is on a mission to transform small business insurance with “simple, affordable” coverage that is tailored to the needs of each class of business.
“Next Insurance offers policies that are easy to buy with instant, 24/7, online access to services such as Live Certificates of Insurance, Additional Insured, and more with absolutely no extra fees. Revolutionizing traditional insurance processes, Next Insurance is utilizing advanced technology to offer the industry’s most innovative small business insurance policies.”
Next Insurance recently secured $250 million through its Series D funding round, which was led by CapitalG, Alphabet’s independent growth fund, with participation from FinTLV, a global insurtech VC, and existing investor Munich RE Group. This is notably the first acquisition since the investment.