(Image credit: Maranda Vandergriff.)
Next Insurance (Palo Alto, Calif.), a startup direct seller of small business insurance, and Evident (Atlanta), a provider of third-party insurance verification services, today 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, according to a NEXT statement.
“Our mission is to enable small businesses to thrive by providing them with fast, affordable and customizable insurance,” comment Eric Harnden, VP, partnerships and agency, NEXT Insurance. “Our partnership with Evident helps small businesses achieve and remain compliant with the coverage requirements of their larger enterprise customers. 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.”
NEXT characterize the partnership with Evident as a means of more efficiently helping small businesses meet insurance requirements, which they say is essential to growth. Despite this, the Next statement says, according to recent research by Evident, only 25 percent of enterprise companies’ third-party partners are fully compliant with their insurance requirements. NEXT says the partnership between the two companies allows them to fill the coverage gaps that exist for these small businesses and support them with their compliance needs.
Increased Overall Compliance Rates
“Our enterprise customers are demanding small businesses meet increasingly strict insurance requirements,” comments David Thomas, founder and CEO, Evident. “Navigating insurance options while trying to onboard with a significant new enterprise is a serious pain point in a small business’s customer journey. 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 says it was selected by Evident because it provides multiple lines of insurance coverage to a broad array of classes of business across the small business sector, powering small business growth. NEXT says that small businesses using its site 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 fulfillment solution available, the company asserts. Through this partnership, NEXT says can help Evident’s clients and their small business clients streamline and simplify the process of purchasing coverage and provide proof of required insurance.