Small business insurance startup Next Insurance has released its Workers’ Compensation offering to an additional 24 US state.
With this announcement, the InsurTech is now available to more than 50% of small business owners, spread across 30 states, it claims.
Last week, the InsurTech closed a $250m Series D round, which increased its valuation to $2bn. Capital from the round will be used to increase the size of its team by 50% and hire 200 new employees over the next 12 to 18 months.
The platform has now entered: Alaska, Arizona, Arkansas, Connecticut, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, Rhode Island, South Carolina, Tennessee, Utah, Vermont, Virginia, and West Virginia.
Next Insurance is already available in Colorado, Florida, Georgia, Illinois, Nevada and Texas.
The company states that workers’ compensation is not only essential for businesses in construction where physical injuries are frequent, but also in safer occupations where slip-and-fall accidents and strains can happen.
Next Insurance has helped over 100,000 customers get access to small businesses and is currently available to 1,300 types of businesses in all 50 US states.
There are six policies on offer, including general liability, professional liability, commercial auto and workers’ compensation.
Next Insurance COO Sofya Pogreb said, “By expanding Workers’ Compensation to more than half of the country, Next Insurance is taking another important step in our journey to become the one-stop-shop for all small businesses.
“This expansion helps us provide simpler and more affordable solutions for Workers’ Compensation, which is far too often one of the largest operational expenses for small business owners. Now, small businesses can easily protect employees while complying with their state guidelines.”
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