Next Insurance is Selling All The Time

Next Insurance, which recently announced its $83m Series B round – published its H1 2018 Report.

 

 

The Highlights:

(1) As of June 2018, the company’s annual written premium run rate is over $22m, compared to just under $3m as of last year (June 2017).

 

 

(2) Most recently, the company sold $1m in written premiums in just 14 days, compared to 400 days to sell its first $1m in premiums.

 

(3) Currently, 40+ classes of business are offered via its platform (think: contractors, cleaners, fitness professionals, beauty professionals, entertainers, and more) – a jump from 10 classes as of last year.

 

(4) 50% of customers bought their policies on mobile browsers from their cell phones in the last six months – and 53% in June.

 

(5) 11% of Next Insurance’s customers buy their policies on weekends.

 

(6) [Selling all the time] 21% of customers buy policies during the night (9pm-9am EST).

 

(7) 90%+ of customers buy their policies without ever speaking to Next Insurance’s Customer Support team.

 

Recall: The company is currently a licensed carrier in eight states, including Delaware, Oklahoma, Arizona, North Carolina, Texas, New Mexico, Maryland, Utah, and the District of Columbia. Bottom Line: “As wonderful as 2018 has been… We aim to become the source of insurance for business owners across the US, and will strive to move towards that goal as we go forward.”