AP Intego to be Acquired by Next Insurance

AP Intego offers a full line of best-fit, best-price property and casualty insurance to the small business customers of hundreds of tech, payroll, and other affinity partners. The company also provides award-winning customer service, flexible billing, and a self-service, online customer dashboard to its more than 75,000 active customers. Earlier this year the company signed an acquisition agreement with Next Insurance, the leading digital insurtech company transforming small business insurance.

"This is a powerful combination and we are excited to become part of the Next Insurance team, a perfect match that accelerates our market leading embedded insurance offering through small business software providers," according to Steven Hauck, Co-Managing Director at AP Intego. "Adding Next Insurance to our platform enhances the overall value proposition we are delivering our partners and their customers and allows us to truly innovate within small business insurance. In order to keep up with our partners' insatiable appetite for a superb customer experience, Next Insurance provides us with digital product flexibility for the benefit of both our partners and their customers. We're thrilled about this new chapter in our history."

AP Intego's platform provides an embedded insurance offering alongside its partners' core products. With a foundation built around many of the leading payroll software providers, AP Intego delivers a digital buying experience for pay-as-you-go workers' compensation insurance to tens of thousands of small businesses. Together Next Insurance and AP Intego will help streamline how small businesses shop for, purchase, and pay for products that help insure their livelihoods, their employees, and their assets.

"At Next Insurance, we're modernizing a centuries-old industry to better provide small business owners with convenience, value and choice," according to Guy Goldstein, CEO and co-founder of Next Insurance. "We're excited to welcome the AP Intego team to Next Insurance. This acquisition marks an industry-defining milestone in our efforts to build a market-leading one-stop-shop for small business insurance. The combination of AP Intego's experience in insurance product distribution through partners and pay-as-you-go infrastructure combined with our approach to digital customized coverage will provide more customers with seamless access to innovative insurance products."

The insurance industry has been traditionally slow to innovate and for decades small businesses have remained an underserved and fragmented market, proving there is a need for a modern, digital-first insurance provider that better supports their needs. Next Insurance will offer its products on AP Intego's platform alongside an established stable of carrier relationships. Next Insurance will provide AP Intego's partners and customers with additional coverage, pricing options and a streamlined insurance experience. Together, through AI-driven pricing, instant purchasing capabilities and always-on, pay-as-you-go service that automatically adapts to a business as it changes, Next Insurance and AP Intego will offer a modern upgrade to small business insurance.

The acquisition of AP Intego brings Next Insurance's small business customers to over 200,000. AP Intego has been a tenant at Hacienda since 2019 and employs 160 people in the United States, bringing Next Insurance's headcount to nearly 600 team members across four major offices. AP Intego will retain its partnerships with leading US small business insurance carriers, and its focus will remain on delivering choice, the right coverage, and competitive pricing to its partners and their small business customers.

For more information about AP Intego, please visit www.apintego.com.

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