NEXT Insurance and Evident partner to provide insurance solutions to small businesses
By Edlyn Cardoza
NEXT Insurance, a leading digital insurtech company transforming small business insurance and Evident, a leading provider of third-party insurance verification services, recently announced that they have partnered to provide NEXT’s tailored insurance solutions to the small businesses that Evident verifies, improving their compliance with the enterprise’s requirements. Through this partnership, NEXT and Evident are making it easier for small businesses to get the exact coverage they need to grow and scale.
“Our mission is to enable small businesses to thrive by providing them with fast, affordable and customizable insurance. Our partnership with Evident helps small businesses achieve and remain compliant with the coverage requirements of their larger enterprise customers,” said Eric Harnden, vice president of partnerships and agency at NEXT Insurance. “Enterprise risk managers deal with thousands of small business vendors who need various coverages in order to scale their business, and NEXT Connect, our embedded insurance solution, makes this process really easy.”
Whether small businesses are maintaining relationships with larger customers or winning business with larger prospects, compliance with insurance requirements is essential. Small businesses can’t access enterprise customers without meeting these requirements, halting their growth trajectory. Yet, according to Evident‘s data-based research report, only 25% of enterprise companies’ third-party partners fully comply with their insurance requirements. This partnership allows NEXT and Evident to fill the coverage gaps that exist for these small businesses and support them with their compliance needs.
“Our enterprise customers are demanding small businesses meet increasingly strict insurance requirements. Navigating insurance options while trying to onboard with a significant new enterprise is a serious pain point in a small business’s customer journey,” said David Thomas, founder and CEO of Evident. “Our partnership with NEXT means increased overall compliance rates for our enterprise customers along with the right coverage at the right price for the small businesses we verify – helping everyone get to work.”
NEXT was selected by Evident because it provides multiple lines of insurance coverage to a broad array of classes of businesses across the small business sector, powering small business growth. Through NEXT, small businesses can obtain fast quotes, purchase online, and receive a certificate of insurance in seconds at any time of day. NEXT and Evident’s combined solution is the only fully automated, fully-digital insurance verification and fulfilment solution available. Through this partnership, NEXT can help Evident’s clients and their small business clients streamline and simplify the process of purchasing coverage and provide proof of required insurance.
IBSi Daily News Analysis
August 09, 2022
The 5G race has begun in India; how will it affect payments?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage