Longstanding embedded partnership utilizes NEXT’s AI-powered platform & sophisticated underwriting for unprecedented time savings
PALO ALTO, Calif., May 22, 2024 — Today, NEXT Insurance, a leading digital insurer transforming small business insurance, unveiled a breakthrough technology-enabled solution designed to modernize the insurance experience. Building upon NEXT’s AI-powered proprietary platform and underwriting expertise, this new solution instantly generates accurate and customized insurance quotes, saving customers valuable time that would otherwise be spent on a lengthy application process. Available to various industries, including accountants, event planners, food trucks, and more, this offering utilizes a customer’s data from LegalZoom and other sources to provide that customer with a tailored quote in seconds, all presented natively within the LegalZoom user ecosystem. This solution leverages NEXT’s deep-rooted expertise and proficiency in data-driven underwriting, saving customers valuable time during the onboarding process.
"NEXT is relentlessly pursuing innovation with our partners to develop streamlined, user-friendly digital solutions for small businesses," said Eran Liron, Chief Strategy Officer of NEXT Insurance." Like NEXT, LegalZoom recognizes the transformative power of technologies like AI, and how they can help empower customers. Our partnership is making insurance simpler and faster, so business owners can spend less time worrying about coverage and more on what they do best - running their businesses.”
Starting a new business involves navigating many complex steps and time-consuming tasks including securing insurance. This can often lead to decision fatigue, especially for first-time business owners. This solution is the latest example of how NEXT uses data analytics and technology to deliver innovation to small business owners, by simplifying the insurance experience. Optimizing the application process reduces the time required to provide a custom quote to just 10 seconds. Building upon NEXT’s embedded insurance product NEXT Connect, NEXT and LegalZoom have gathered extensive data through their continued, digitally-driven partnership. This new offering streamlines the insurance application process, and leverages LegalZoom’s robust customer profile to provide customers with tailored quotes in the most seamless possible format.
"New entrepreneurs have a lot on their plate, from meeting legal requirements to setting up their businesses. They rely on and trust LegalZoom and our recommended partners to make things quick, easy, and digital," said Kathy Tsitovich, Chief Corporate Development and Partnerships Officer at LegalZoom. "Teaming up with NEXT, we're using a tech-first approach to personalize experiences for our customers, saving them precious time and effort when starting their business."
This news is the next phase of a longstanding embedded partnership between NEXT and LegalZoom, powered by the existing embedded insurance product NEXT Connect. The partnership aims to bring new ways to help small business owners create and protect their businesses. Led by a technology-first approach, this partnership has enabled the companies to realize their shared vision of investing in technology that helps support small business owners every step of the way, creating tailored experiences while giving them the confidence that they are setting up their businesses for success.
For more information, please visit NEXT’s website.
About NEXT Insurance
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by over 500,000 business owners, NEXT offers policies that are easy to buy and provides 24/7 access to Certificates of Insurance, additional insured, and more, with no extra fees. Revolutionizing 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 $1.1 billion 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. For more information, visit NEXTInsurance.com. Stay up to date on the latest with NEXT on X, LinkedIn, Facebook and our blog.
About LegalZoom.com, Inc.
LegalZoom is a leading online platform for business formation in the United States, or U.S. Our unique position at business inception allows us to become a trusted business advisor, supporting the evolving needs of a new business throughout its lifecycle, and we have expanded our platform to include professional expertise and other products, both legal and non-legal, to better meet the needs of small businesses. Driven by a mission to unleash entrepreneurship, we deliver comprehensive legal, tax, accounting and compliance products and expertise to millions of small business owners and their families through easy-to-use technology. We operate across all 50 states and in over 3,000 counties in the U.S., with over two decades of experience in simplifying the legal and compliance process for our customers and empowering entrepreneurs with services that help to make their dream a reality. For more information, please visit www.legalzoom.com.
Media Contact
Kerry Ogata
Director of Corporate Communications
301-717-4224
kerry.ogata@nextinsurance.com
