Amazon is moving into the insurance space through a partnership with InsurTech startup Next Insurance.
The agreement will provide Amazon Business users with access to customised small business insurance policies. It will also enable them to receive a quote from Next Insurance and quickly purchase general liability, professional liability, workers’ compensation, commercial auto and tools and equipment insurance coverage.
Next Insurance offers small businesses with easy access to insurance products that are highly customisable based on their needs. By leveraging machine learning and AI, it can provide small business owners with insurance in under ten minutes, it claims.
Amazon Business Prime director Todd Heimes said, “We know that small business owners are looking for innovative and cost-effective ways to streamline their businesses and save time, and that’s what this partnership with Next Insurance helps achieve.
“We believe Next Insurance offering products to Business Prime is another example of how this program provides value and benefits to members.”
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