Next Insurance promo video (1 min)

Having run a small business for 20 years, and now on the board of one, I can tell you that insurance is one of the most confounding aspects of SMB management. Across both entities, I’ve spent more than $250,000 on insurance, never filed a claim, and never felt comfortable that I was covered in case something bad really did happen. That’s the definition of a horrible product.

Next Insurance is by all measures the leading digital innovator in the SMB space. It targets the smaller part of the market, especially independent contractors and sole proprietorships. Policies are issued by NEXT or State National Insurance depending on insurance type and location of the business. NEXT policies are backed by MunichRE.

Insurance Products

  • General Liability
  • Workers’ Compensation
  • Professional Liability
  • Errors and Omissions (E&O)
  • Commercial Auto
  • Commercial Property
  • Business Owner’s Policy (BOP)
  • Hired & Non-Owned Auto
  • Tools & Equipment
  • Liquor Liability
  • Business

Company Vitals

Next Insurance
FAB Score: 229
Rank: #1 on our list of Top 15 Digital SMB Insurers

  • Founded: 2016
  • HQ: SF
  • Valuation: $4B (based on March 2021 round)
  • Raised: $881M (Crunchbase)
    – $250M in 2021
    – American Express invested in the B-round (July 2018)
  • Website visits (Oct 2021): 770,000 (SimilarWeb)
  • Employees: 660 (Pitchbook)
  • Articles: 68 (Crunchbase)
  • Linkedin: 24,400 followers
  • Twitter: 9,800 followers
  • Trustpilot: NA (2 reviews)
  • YouTube: 19M views; 3,100 subscribers

Deep Dive

1. Interview with co-founder Guy Goldstein, COO Sofya Pogreb, and CMO Melanie Chase (20 minutes, Jan 2020)

2. CB Insights interview with Guy Goldstein (25 minutes, July 2019)