LegalZoom.com, Inc. (Nasdaq: LZ), the firm focused on online business formation and a key player in legal, compliance and tax solutions, and NEXT Insurance, a digital insurtech company transforming small business insurance, announced a partnership “to better help small business owners create and protect their business online.”
NEXT’s fully embedded insurance solution, NEXT Connect, “allows small business owners to quickly and seamlessly get a quote for small business insurance and purchase a plan that works for them, all without ever leaving the LegalZoom platform.”
According to a LegalZoom survey of small business owners, only 9% of entrepreneurs indicated that they “already had business insurance when forming their business.”
However, having business insurance is “a vital step when setting a company up for success. From providing benefits to employees, to protecting a business from damages to protecting customers – business insurance is critical, and sometimes legally required, for businesses in the U.S.”
Kathy Tsitovich, Chief Corporate Development & Partnerships Officer, LegalZoom. said:
“LegalZoom is committed to investing in technology that helps support small business owners every step of the way, and the embedded integration in LegalZoom’s platform with NEXT helps us deliver on that commitment. The technology-first approach we have taken with NEXT allows us to create tailored experiences for our customers while giving them the confidence that they are setting-up their business for success.”
LegalZoom continues “to pursue a technology forward approach when it comes to partnerships and the products and services offered to small business owners.”
With new partners like Wix and now NEXT Insurance, LegalZoom’s customers gain access to a simple, unified experience “that enables them to start, manage, protect and grow their business, without ever leaving LegalZoom.com.”
In addition to the embedded experience with the LegalZoom platform, customers exploring small business insurance will “have their information automatically populated, with their consent, within NEXT Connect, making it quick to explore the insurance options that are right for them.”
And for those who aren’t ready “to purchase insurance but want to learn more, LegalZoom is offering educational content within the Business Toolkit that can provide important insurance information for entrepreneurs.”
Guy Goldstein, CEO and co-founder of NEXT, said:
“Insurance and legal services are two very complicated, yet critical, aspects of starting a business. NEXT’s partnership with LegalZoom simplifies this process by providing an embedded solution that enables customers to instantly get a quote and purchase insurance without leaving the LegalZoom platform. We are thrilled to work with LegalZoom and address the full coverage needs of those looking to form a small business.”
NEXT is committed “to helping small businesses thrive by providing access to customized and affordable insurance policies online through NEXT Connect.”
Partners like LegalZoom are “solving a significant pain point for small business owners and are empowering entrepreneurs to seek out customized, technology-first solutions that enable their businesses to grow and scale.”
This partnership and product offering “are available for LZ Customers now through My Account or can be found at www.LegalZoom.com/Partners.”
Survey methodology: The LegalZoom research “consisted of an online survey conducted by Magid of business owners and small business intendors.”
More than 1,800 individuals from the U.S. “completed the survey.” Responses were “captured between February 10-26, 2021.”