InsurTech unicorn Next Insurance has acquired Intego, which is a digital insurance agency offering a suite of small commercial insurance products.
Intego offers a digital buying experience for pay-as-you-go workers’ compensation insurance to tens of thousands of small businesses.
Next Insurance will leverage Intego to streamline how small businesses shop for, purchase and pay for products.
Next Insurance CEO and co-founder Guy Goldstein said, “We’re excited to welcome the AP Intego team to Next Insurance. This acquisition marks an industry-defining milestone in our efforts to build a market-leading one-stop-shop for small business insurance.
“The combination of AP Intego’s experience in insurance product distribution through partners and pay-as-you-go infrastructure combined with our approach to digital customized coverage, will provide more customers with seamless access to innovative insurance products.”
Following the acquisition, Next Insurance will offer its products on Intego’s platform. It will give Intego’s partners and customers with additional coverage, pricing options and a streamlined insurance experience.
Intego co-managing Director Steven Hauck said, “Adding Next Insurance to our platform enhances the overall value proposition we are delivering our partners and their customers and allows us to truly innovate within small business insurance.
“In order to keep up with our partners’ insatiable appetite for a superb customer experience, Next Insurance provides us digital product flexibility for the benefit of both our partners and their customers. We’re thrilled about this new chapter in our history.”
Next Insurance increased its valuation to $2bn last year, following the close od a $250m funding round.
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