Next Insurance Launches Live Certificate, Industry's First Real-time Certificate of Insurance Verification

PALO ALTO, California, March 20, 2018 /PRNewswire/ --

Next Insurance, the leading insurtech company offering small business insurance, today launched Live Certificate, a real-time certificate of insurance (COI) verification feature for policyholders and their customers.

Next Insurance is the first US-based insurance provider to offer this service, closing a significant gap in the industry. Until now, there was no way for small businesses to provide real-time verification of their insurance coverage to their customers including verifiable additional insured and policy expiry information. Proof of insurance has traditionally come in the form of printed documents that can be easily faked, or are no longer valid because the insurance policy expired or was cancelled. Certificate fraud is rampant, leaving small businesses and their customers financially exposed in the event of damage or injury.

There are almost 30 million small businesses (SMBs) in the US today, accounting for 99.7% of all businesses. According to a recent survey, 44% of small businesses operating for at least a year have never had insurance. These findings raise concerns for consumers employing an entrepreneur or small business that might not have a valid insurance policy.

The Next Insurance Live Certificate provides a digital option for real-time policy validation from a computer or mobile phone, giving consumers confidence that the small businesses they employ have active insurance coverage. Next Insurance serves as the verifying third party, injecting  transparency and confidence into the relationship between small businesses and their customers.

How the Next Insurance Live Certificate of Insurance Works:

• Link Sharing: Policyholders are able to email their customers a link to the Live Certificate in real-time directly through the Next Insurance online customer portal from a computer or mobile phone.
• Instant Authentication: The link enables the customer to instantly check the validity of the policy online, including additional insured and policy expiry information.
• Work With Confidence: Once verified, customers can rest assured that they are protected in the event of a mishap.
• No Additional Cost: The Next Insurance Live Certificate is offered to all customers for free, and unlimited certificates are available.

"We are the first in the industry in the US to offer real-time Certificate of Insurance verification through our online customer portal, enabling immediate access for small business customers to verify active insurance policies," said Guy Goldstein, CEO and Co-Founder of Next Insurance. "The insurance industry has not provided consumers what it was designed to offer: security, confidence and transparency. Now, consumers can take their security into their own hands. With Live Certificate, we continue to expand our innovative insurance offering, transforming how businesses interact, as well as the outdated insurance industry as a whole."

About Next Insurance:

Next Insurance is transforming small business insurance with simple, affordable coverage, tailored to the needs of each class of business. Next Insurance offers policies that are easy to buy with instant, 24/7, online access to services such as Certificates of Insurance, Additional Insured and more with absolutely no extra fees. Revolutionizing traditional insurance processes, Next Insurance is utilizing advanced technology to offer the industry's most innovative small business insurance policies. Founded in 2016 by a team of serial entrepreneurs, the company is headquartered in Palo Alto and has received a total of $53 million in venture capital funding from Ribbit Capital, TLV Partners, Zeev Ventures, Munich RE Ventures, Markel, Nationwide, American Express, and others. To see how Next Insurance performed in 2017, click here. For more information about the company, visit Next-Insurance.com.

Contact Information:
Brandon Weinstock
[email protected]
+1-914-336-3878

SOURCE Next Insurance