NEXT Insurance, a digital InsurTech player revolutionising small business insurance, has announced an intensified collaboration with Gusto Embedded, a significant developer platform and support infrastructure.
The partnership has been enhanced to bring NEXT’s unique pay-as-you-go workers’ compensation to the small business customers of Gusto Embedded partners through NEXT’s market-leading, fully integrated insurance solution, NEXT Connect.
The primary motivation for this fortified partnership is to empower small businesses across the U.S., equipping them with the essential tools needed to simplify two of the most complex aspects they encounter: insurance and payroll. By offering a digital embedded payroll experience, small business owners can effectively manage cash flow and only pay for the coverage they need.
Founded in 2016 and based in Palo Alto, NEXT Insurance aims to transform small business insurance by providing simple, digital, and affordable coverage. Utilising AI and machine learning, NEXT has disrupted the traditionally complex insurance industry and has won the trust of over 450,000 business owners. Conversely, Gusto Embedded is a branch of Gusto that provides more than 300,000 small and medium businesses with modern, online people platform services. Through its platform, software platforms can offer in-app, modern payroll products to their customers.
The collaboration between NEXT and Gusto Embedded will lead to a streamlined process, simplifying and making it more convenient for small business owners to remain compliant and safeguard their businesses. This robust solution enables seamless and rapid provision of workers’ compensation, offering businesses peace of mind by saving time and reducing errors.
The embedded solution from NEXT Connect allows small business partners in various sectors, such as payroll, point of sale, accounting, e-commerce, and banking, to purchase swift and affordable insurance coverage that suits them best, either entirely online or with the assistance of a licensed insurance agent.
Eran Liron, Chief Strategy Officer at NEXT Insurance, stated, “Offering this digital embedded payroll experience in collaboration with Gusto enables us to streamline this process, making it easier and more convenient for small business owners to remain compliant and protect themselves, all through the partners they trust most.” Furthermore, Yi Liu, General Manager of Gusto Embedded, said, “The expanded solution with NEXT allows our partners to offer small businesses workers’ compensation seamlessly and quickly, advancing our goal of helping businesses create great places to work and helping our partners grow revenue.”
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