NEXT Insurance, a leading digital insurtech company transforming small business insurance, and Intuit Inc. ( Nasdaq: INTU), today announced the launch of NEXT Connect for Intuit QuickBooks, an embedded insurance solution that provides customers with seamless access to digital-first insurance products within the QuickBooks ecosystem. Small businesses and accountants can obtain insurance quotes and bind coverage without leaving their QuickBooks account. Additionally, users can benefit from NEXT’s technologically advanced, in-house pay-as-you-go offering for workers’ compensation, consult with a trusted insurance advisor as well as access multiple A-rated national carrier products, including NEXT. As QuickBooks’s premier insurtech with a proprietary pay-as-you-go system that integrates directly with Intuit QuickBooks, this embedded solution enables small businesses to quickly set up a plan that seamlessly handles payments, streamlines cash flow and ensures they only pay for the coverage they need.
“Small businesses and entrepreneurs are innovators at heart, and they deserve tech-driven solutions designed with their needs in mind,” said Guy Goldstein, CEO of NEXT Insurance. “Our partnership with Intuit QuickBooks enables NEXT to ease significant pain points for the small business community by providing easy access to customized coverage and payments directly tied to a company’s payroll for their workers’ compensation policies—all without leaving their Intuit QuickBooks accounts.”
NEXT’s pay-as-you-go offering was built in-house to provide small businesses with a convenient option to pay for their insurance “as they go” versus all up front, preserving cash flow and reducing the likelihood of year-end audits. NEXT’s pay-as-you-go offering now uses Stripe Financial Connections to link to a customer’s bank account and automatically handle payments on an ongoing basis. Customers benefit from being able to easily set up billing and having it run automatically along with their payroll. All of their policy, billing and payment information is in one place to easily manage
“Despite accounting for nearly half of the U.S. economy, small businesses have long been overlooked or offered one size fits all solutions for their financial services and insurance needs,” said Jessica Hidalgo, Group Product Manager at Intuit QuickBooks. “NEXT Connect’s embedded insurance offering and pay-as-you-go solution allow us to not only provide QuickBooks customers with seamless access to trusted insurance carriers, but also offer payment options adjusted to a company’s payroll.”
Small businesses are facing tremendous challenges with rising inflation and a looming recession impacting their business operations. With the new NEXT Connect offering, small businesses that are using QuickBooks for tax or payroll reasons maybe able to save time and money by bundling their insurance policies and receive the peace of mind they deserve that they are purchasing the insurance coverage they need, nothing more. Further, with the added support of its workers’ compensation pay-as-you-go offering, NEXT is enabling better cash flow management in a time of economic uncertainty.
To learn more about the value of embedded insurance and how NEXT and QuickBooks are partnering to help small businesses, tune into this year’s ITC conference in Las Vegas to hear NEXT CEO Guy Goldstein and Intuit Quickbook’s Jessica Hidalgo speak.
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