Next Insurance
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The InsurTech announced a strategic partnership with Allstate to combine the companies' expertise in small business insurance, and a stronger reinsurance relationship with Allianz. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The executive will help define Next’s customer segmentation strategy as the company evaluates new industries to serve.
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Even if venture debt has always been around, sources said InsurTechs are approaching the market in different ways, as they struggle to raise equity rounds at attractive valuations.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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It is understood that the InsurTech is looking to raise approximately $200mn in debt.
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Next is the latest InsurTech to reduce its staff in what has become a widespread phenomenon within the space.
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Inside P&C’s news team runs you through the key developments from the week.
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It is understood that Next decided to discontinue the process after it proved an uphill battle to secure funding at an attractive valuation amid volatile market conditions.
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The offering includes auto repair shops, auto body shops, car washes, oil change stations, tire shops and auto parts stores.
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COO Sofya Pogreb says InsurTech Next is evaluating the option to go public, but the time is not yet right.
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Next Connect will enable small businesses in industries such as payroll, POS, accounting, e-commerce and banking to embed Next's insurance offerings into their existing platforms.
