Up coming Insurance to Receive Affinity Company AP Intego2 min read
Digital commercial insurance coverage organization Next Insurance has agreed to get AP Intego, a Massachusetts-dependent digital insurance coverage company offering tiny commercial insurance solutions.
By its platform, AP Intego offers property/casualty coverage together with pay out-as-you-go workers’ payment to the smaller enterprise prospects of payroll processors and other affinity partners which includes Intuit (Quickbooks), Gusto, Sq. and Toast. The company also delivers an on-line consumer dashboard to its far more than 75,000 energetic prospects. AP Intego explained it destinations $200 million in quality with extra than a dozen insurance coverage carriers in 50 states.
As element of the agreement, AP Intego will retain its partnerships with its coverage carriers. Future Insurance policy stated it will give its goods on AP Intego’s system together with those people of other carriers, providing AP Intego’s associates and clients more coverage and pricing options.
Future Insurance policies gives normal liability, professional liability, commercial liability and workers’ compensation. New products are planned in 2021 for modest enterprises in spots which include accounting, development, health and fitness, retail and far more, the organization mentioned last fall.
“The blend of AP Intego’s encounter in insurance products distribution through partners and pay-as-you-go infrastructure combined with our method to digital personalized protection, will give far more clients with seamless accessibility to modern insurance products,” stated Guy Goldstein, CEO and co-founder of Upcoming Insurance.
Future also offers Are living Certificate, a true-time certificate of coverage verification, moreover an on the net portal the place policyholders can handle their insurance plan.
California-based mostly Next Insurance plan has elevated $500 million in undertaking funds about the previous 16 months and obtained a Denver data and underwriting engineering organization, Juniper Labs, past December. With that acquisition, Following explained it would concentrate on increasing its workers’ payment and standard liability merchandise choices. Next expanded its workers’ compensation giving to 30 states very last October.
AP Intego is Next’s initially coverage distribution acquisition and provides its small business shoppers to above 200,000.
AP Intego employs 160 persons around Waltham, Massachusetts, Rochester, New York and other areas of the U.S., bringing Up coming Insurance’s headcount to practically 600 throughout 4 workplaces.
No terms were being disclosed. The shut of the transaction is subject to customary closing conditions.
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