Nationwide makes second investment in digital startup Next Insurance

BPC Staff Jul 13, 2018 | 4:01 pm [wp-word-count-reading-time after="min read time"] [wp-word-count after="words"]All Latest News, Insurance
Nationwide Insurance has made a second-round investment in digital insurance startup Next Insurance Inc., Columbus Business First reported. Nationwide, which has operations in Des Moines, was one of several backers on an $83 million Series B funding round to Palo Alto, Calif.-based Next Insurance, which sells customized policies online to small businesses. Next Insurance is a licensed carrier in eight states in the Southwest and along the East Coast, and is seeking to expand to all 50 states. Next said it is selling about 3,000 small-business policies a month, growing to more than 23,000 active small-business customers from 6,000 a year ago. Nationwide announced last year it would invest $100 million in venture capital for financial services and insurance startups; Next was one of its initial investments.