Insurtech Firm NEXT Insurance Appoints Rachel Jrade-Rice as General Counsel

NEXT Insurance, a digital insurtech company transforming small business insurance, today announced the promotion of Rachel Jrade-Rice to General Counsel.

Jrade-Rice joined NEXT Insurance in 2020 “as Insurance Regulatory Counsel and was quickly promoted to Head of Regulatory Affairs and then again to Associate General Counsel of Regulatory Affairs.”

In January, she “took on the role of interim General Counsel and provided trusted strategic counsel and leadership on projects related to financial solidity, partnership growth, and product refinement, in addition to delivering automation and accessibility improvements to the legal team.”

Teodora Gouneva, CFO at NEXT, said:

“Rachel quickly rose through the ranks at NEXT, proving time and again her ability to move the needle and impact innovative change for our small business customers. She did an excellent job taking on the additional responsibilities of interim General Counsel, and I am confident that Rachel’s extensive legal and insurance expertise and passion to lead makes her the right person for this role. I am looking forward to working with her in the years ahead.”

Jrade-Rice reportedly “brings over a decade of legal experience and has managed billion-dollar programs, driving regulatory strategy, supporting innovative product design and guiding critical counsel for complex laws and statutes.”

Before joining NEXT, she held “the position of Assistant Attorney General in the Tennessee Attorney General’s office and served as the Assistant Commissioner at the Tennessee Department of Commerce and Insurance.”

Rachel Jrade-Rice, general counsel at NEXT Insurance, said:

“I made the decision to join NEXT because I was inspired by its mission and innovative tech-forward approach to insurance. NEXT puts small businesses at the heart of everything it does, and being part of a mission-driven company was important to me. I have an incredible team, and I feel privileged to work with them every day. I am honored to take on this role and continue to help small businesses thrive.”

In her new role, she will “focus on improving coverage transparency and claims processing for NEXT’s small business customers, drive topline growth, scale company operations and continue to build NEXT’s legal team.”

As covered, NEXT Insurance claims it is “transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed.”

“Trusted” by over 450,000 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.”

Streamlining 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.”

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