Next Insurance, the leading digital insurance company for small businesses, today announces that the company has generated more than 280,000 digital certificates of insurance since launching the feature in March 2018.
The Next Insurance Live Certificates have been issued to more than 52,000 small businesses, that have each used them at least five times on average in the past year. This milestone is indicative of the widespread demand for instant verification in the form of a real-time certificate of insurance (COI) for policyholders and their customers.
Next Insurance is the first US-based insurance provider to offer the Live Certificate, closing a significant gap in the industry. Prior to the launch, there was no way for small businesses to provide real-time verification of their insurance coverage to their customers including verifiable additional insured and policy expiry information.
“The insurance industry has been failing to provide businesses what it was designed to offer – security, confidence and transparency,” said Sofya Pogreb, COO of Next Insurance. “With the Live Certificate, small businesses are now taking insurance into their own hands, giving them increased confidence – and a step up in credibility with their clients, partners, and customers. We’re thrilled to see such enormous uptake so quickly, as well as glowing feedback from our customers who have experienced first-hand the transformation in their business operations and customer relationships.”
The Next Insurance Live Certificate provides a digital option for real-time policy validation from a computer or mobile phone, giving consumers confidence that the small businesses they employ have active insurance coverage. Next Insurance serves as the verifying third party, injecting transparency and confidence into the relationship between small businesses and their customers.
How the Next Insurance Live Certificate of Insurance Works:
- Link Sharing: Policyholders are able to email their customers a link to the Live Certificate in real-time directly through the Next Insurance online customer portal from a computer or mobile phone.
- Instant Authentication: The link enables the customer to instantly check the validity of the policy online, including additional insured and policy expiry information.
- Work With Confidence: Once verified, customers can rest assured that they are protected in the event of a mishap.
- No Additional Cost: The Next Insurance Live Certificate is offered to all customers for free, and unlimited certificates are available.