Why don’t we offer insurance to all types of small businesses?
As the Next Insurance leader responsible for our insurance product and our Advisory team, I am delighted when small business owners call us to let us know they are excited about what we have to offer. The conversations are bittersweet, however, when we get calls about a need we can’t meet – yet. I have been reflecting on instances where business owners ask us why we aren’t offering insurance for their business type (e.g., florists, bakers, lawyers, veterinarians, equestrian coaches – you name it, we’ve heard it!) and when a Next Insurance offering for them is coming.
We’ve gotten quite a few inquiries from other types of businesses about why we don’t sell insurance for them. It’s no wonder these inquiries are coming – so many business owners in all lines of business are looking for a more convenient, simpler way to ensure their business is protected. And, as we grow and continue to build a reputation for great product and outstanding service with Photographers, Personal Trainers and Construction business nationwide, others are reaching out to us for help.
We’d like nothing more than to meet this need – so why aren’t we expanding faster? There is only one reason: we will not serve a small business segment unless we have done our homework and are confident we are bringing the best product on the market to our customers. Our job is to do the research and the shopping for you – so you can do more important things.
Understanding a new industry, identifying the coverage options that will provide the right protection for most the business owners in it, and putting the product together with one or more partners takes months. After launching, we optimize every question and every page based on applicants’ feedback and the data we have from the website – and also work to expand coverage.
Sounds complicated? It is. And doing it right takes time – but we don’t want to do it any other way. That’s why the policy you buy from us is right for your business, our Advisory team understands your industry, and our website doesn’t sound like a listing of technical insurance terminology.
It may take us a few more months to start servicing your industry – but when we do, you can trust us to understand your needs and bring you the best product, accompanied by outstanding service.
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