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Evidence And NEXT Insurance Partner To Create Custom Verification

Insurance CIO Outlook | Tuesday, August 02, 2022

Through this partnership, NEXT Connect offers small businesses a frictionless insurance purchasing program to comply with enterprise coverage requirements through a frictionless insurance purchasing platform

FREMONT, CA: "Our mission is to enable small businesses to thrive by providing them with fast, affordable and customizable insurance. Our partnership with Evident helps small businesses achieve and remain compliant with the coverage requirements of their larger enterprise customers," said Eric Harnden, vice president of partnerships and agency at NEXT Insurance. "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."

The NEXT Insurance company, one of the leading digital insurtech companies, focused on transforming small business insurance, unveiled a partnership with Evident, another leading provider of third-party insurance verification services. As part of an initiative to offer NEXT's tailored insurance solutions to small business customers that Evident verifies, thus improving their compliance with the enterprise's requirements. For small businesses to grow and scale successfully, NEXT and Evident are creating an environment that makes it easier for them to obtain the exact coverage they need.

Small businesses must comply with insurance requirements regardless of whether they are maintaining relationships with larger customers or expanding into larger markets.   Small businesses can't access enterprise customers unless they can meet these requirements, which will halt their growth trajectory in the long term. It is alarming, however, that only 25 percent of enterprises' third-party partners fully comply with the insurance requirements they have set for themselves, according to Evident's research report based on their data. Collaborating with NEXT and Evident help these small businesses fill coverage gaps and comply with compliance requirements.

"Our enterprise customers are demanding small businesses meet increasingly strict insurance requirements. Navigating insurance options while trying to onboard with a significant new enterprise is a serious pain point in a small business's customer journey," said David Thomas, founder, and CEO of Evident. "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."

In addition to providing a broad array of insurance coverage options to a wide range of business classes across the small business sector, NEXT was selected by Evident because it provides multiple lines of coverage across the small business sector. The NEXT platform allows small businesses to obtain quick quotes, purchase insurance online, and receive a certificate of insurance in seconds. 

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