Hello Business Owners!
We’re Sanjay and Zeke, the Insurance Product Management team at Next! As you may know, Next Insurance got started by innovating on the distribution front - we have been working with insurance carriers to make their products for select industry verticals available via an easy, fast, fully-online process. We’ve also put outstanding insurance agents right next to our Product and Technology teams - in order to ensure customers can get advice and guidance from a human as needed, and their feedback gets passed directly into the teams optimizing our platform.
As of a few months ago, we’ve gone even further. We’ve started designing a line of Next Insurance proprietary products where, rather than bringing you a product from our partners, we will be creating insurance products in-house - based on each vertical’s needs and optimized by the feedback that you, the business owners, give us every day! To do this, we’ve created an Insurance Product team within Next - and the two of us are the Product Managers that will drive the proprietary product effort.
Neither of us comes with a traditional insurance product design / underwriting background - and, frankly, we think that’s a good thing. We have a deep respect for and we partner with experienced insurance underwriters and product design consultants to make sure we capitalize on industry learnings - however, we also believe that lack of experience in this industry helps us question each practice and assumption - catalyzing dramatic innovation. Our goal is to make our products cheaper, better, and easier to use than any others available in the market - insurance should be less of a pain point and more of an affordable and reliable tool that helps your business grow and thrive!
Hey, I’m Sanjay!
I joined the Next Insurance team in June 2017, so I’m new to and learning the insurance game, but already I’m blown away by the tremendous opportunity to make waves. I’m specifically working on building out our proprietary insurance products for businesses not related to construction (our first industry of focus and Zeke’s domain…)
Before joining Next, I spent a few years in Chicago working at McKinsey and Company. Prior to that, I studied Industrial Engineering at Northwestern - so San Francisco is a welcome change. Outside of work, I’m a fairly frequent traveller and I enjoy cycling, bouldering, and skiing.
Hi, I’m Zeke!
I’m working on building insurance products for small/medium-sized construction businesses. I joined a week after Sanjay in June 2017. So, just like Sanjay, I’m brand new to insurance and have tons to learn. In just the few weeks that I have been at Next it has been invigorating to see how large of an opportunity we have to improve insurance products for small business owners!
insurance products for small business owners! I am especially excited to use data-driven decisions to bring innovative/cutting edge insurance products to market.
Prior to joining Next, I worked as a data analyst on the professional services team at Qubit in San Francisco. Before my time at Qubit, I worked in real estate development in Dallas, Texas and studied economics at Harvard. In my spare time I try to spend as much time as possible outdoors. I’m an avid skier, cyclist (hawk hill enthusiast ? ), and squash player. Recently, I’ve also been experimenting with triathlons and mountaineering.
We both noticed a few things in the first few weeks after we started:
Most (with some exceptions) business insurance products are not truly customized to that business’ needs - you end up paying for coverage you don’t need and foregoing coverage you do.
Decisioning and pricing do not leverage the full extent of the data available about the business and the business owner - there are opportunities to use data science and machine learning to improve pricing and give responsible business owners a more affordable product.
The industry is plagued by complexity - and experience suffers. Business owners expect to spend a lot of time - signing paperwork, waiting, paying fees - we are here to question these things and strive to eliminate all of them. Buying insurance can (and should) be as simple as your other online purchases, with a friendly, experienced advisor standing by - but only if you need the help.
We have already started (with the help of a few partner and industry experts) working on proprietary products in several verticals - and will be submitting them for approval in all 50 states. We are excited about bringing you something that is truly designed for your business and is significantly differentiated from “market norms”. Look forward to our first proprietary insurance products coming your way later this year!
As always, we would love your comments and your input - whether you are a business owner who is already a customer, or one that is exploring the possibility of working with us. Questioning existing industry practices is what we do every day here at Next Insurance - so come tell us about your insurance pain points and we’ll figure out how to solve them - together!