Bluevine partners with leading small business insurtech NEXT Insurance to provide customers with seamless access to customized, digital insurance policies
REDWOOD CITY, CALIF. – August 3, 2021, 8:00AM PT – Bluevine, the leading provider of innovative financial services for small businesses, today announced a partnership with NEXT Insurance, the top digital insurtech company transforming small business insurance, to provide Bluevine customers with convenient access to customized, affordable insurance policies. Available now, Bluevine Business Checking customers can learn more about a special offer on NEXT policies right from their Bluevine account dashboard and receive an insurance quote in ten minutes or less.
Bluevine and NEXT are committed to helping small businesses cut through the complexity of financial services, and find products that are tailored for them. By providing an option for NEXT business insurance to new and existing digital banking customers, Bluevine is solving a significant pain point for small business owners, and empowering entrepreneurs through this partnership to seek out customized, technology-first solutions that enable their businesses to grow and scale.
“For far too long, business solutions including banking and insurance have overlooked the needs of small businesses,” said Eyal Lifshitz, CEO and co-founder, Bluevine. “We are exclusively focused on helping small business customers, and to do this, it’s critical that we provide them with a curated platform that supports their goals. Our partnership with NEXT is a natural progression in our efforts to solve the financial needs of small businesses by providing access to relevant and best in class insurance products quickly and seamlessly.”
Over 40% of small businesses go without business-specific insurance coverage, instead relying on personal insurance policies, or worse, risk operating their business without insurance entirely. However, small business insurance is often required by state law to operate a business and is a critical piece to maintaining financial security. Bluevine helps support small business owners by leveraging technology to bring speed and simplicity to its banking product offerings. This partnership with NEXT further simplifies the insurance purchasing process by providing customers with a comprehensive suite of financial products that serve the holistic needs of small business owners.
“Our digital insurance solutions can be easily integrated into small business provider platforms like Bluevine, simplifying access and meeting customers where they are,” said Guy Goldstein, CEO of NEXT. “NEXT’s partnership with Bluevine allows customers to purchase their insurance without leaving their accounts and instantly get a policy tailored to their small business. We look forward to working together to continue to help small businesses thrive.”
Bluevine is taking care of the holistic needs of small businesses by looking at the significant financial milestones for small businesses and providing technology-driven solutions. After completing a short application, existing Bluevine Business Checking customers can receive a customized quote through NEXT, with the ability to easily purchase and bundle General Liability, Professional Liability, Workers’ Compensation, Commercial Auto, Commercial Property and Tools and Equipment insurance coverage. For Bluevine customers, NEXT is offering a special discount on insurance policies.
Bluevine provides small and medium-sized businesses with fast and simple access to financial services built with them in mind. Bluevine’s advanced online platform is intuitive and offers a convenient solution for business’ banking and working capital needs. Bluevine offers a suite of products designed to meet the diverse financial needs of today’s business owners including Bluevine Business Checking, Payments, Line of Credit, Term Loan, and Invoice Factoring. Based in Redwood City, California, Bluevine has provided small and medium-sized businesses with access to more than $8 billion in financing and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, SVB Capital, Nationwide Insurance, and M12 (Microsoft’s Venture Arm). All lines of credit and term loan products are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking services provided by the Coastal Community Bank, Member FDIC. Upon Program Transition and Launch, banking services provided by Coastal Community Bank, Member FDIC.
NEXT Insurance is transforming small business insurance with simple, digital and affordable coverage tailored to the self-employed. Trusted by 250K business owners, NEXT offers policies that are easy to buy in 10 minutes or less and provides 24/7 access to Live Certificates of Insurance, Additional Insured, and more, with no extra fees. Revolutionizing a historically complicated insurance industry, NEXT utilizes AI and machine learning to simplify the purchasing process and drive down costs by up to 30% compared to traditional policies. Founded in 2016, the company is headquartered in Palo Alto, has received a total of $881 million in venture capital funding and has been recognized two consecutive years by Forbes Fintech 50, JMP Securities InsurTech 50 and Forbes Best StartUp Employers. For more information visit NextInsurance.com. Stay up to date on the latest with NEXT on Twitter, LinkedIn, Facebook and our blog.
Head of Communications, Bluevine
Head of Communications, NEXT Insurance