Boost Insurance vs Next Insurance
Side-by-side comparison of AI visibility scores, market position, and capabilities
Boost Insurance is an API-driven MGA platform enabling insurtechs and embedded insurance programs; secured $130M+ in new reinsurance capacity in Feb 2024 and a strategic equity investment from BHMS in July 2024;
About
Boost Insurance is a New York-based insurance technology company that provides infrastructure-as-a-service for building, launching, and scaling managing general agent (MGA) programs and embedded insurance products. Founded to democratize access to the insurance market, Boost packages the compliance, capital relationships, carrier appointments, and technology required to operate a licensed MGA into a single API-driven platform. This enables insurtechs, embedded insurance partners, and specialty MGAs to launch new insurance programs without building the underlying regulatory and reinsurance infrastructure from scratch.
Digital Commercial Insurance for Small Businesses
Digital commercial insurance for small businesses. Palo Alto CA. Raised $881M+. Unicorn. AI-powered underwriting for 1,300+ business types. 500,000+ small business customers.
About
Next Insurance is a digital commercial insurance company headquartered in Palo Alto, California, that has raised over $881 million in funding and achieved unicorn status. Founded in 2016, Next provides small business insurance — including general liability, professional liability, commercial auto, workers' compensation, and business owner's policies — through a fully digital platform that can quote, bind, and issue certificates of insurance instantly for over 1,300 types of small businesses. Next has acquired over 500,000 small business customers, becoming one of the largest InsurTech companies in the commercial lines segment.\n\nNext's AI-powered underwriting platform classifies businesses, assesses risk, and prices policies using machine learning models trained on claims data and business characteristics — enabling the company to accurately price small commercial risks that incumbents historically handled through expensive manual underwriting processes. The instant certificate of insurance issuance capability is particularly valued by contractors, consultants, and service businesses that need same-day proof of insurance for clients or job sites. Next also provides its digital insurance infrastructure as a white-label platform to other companies through a B2B2B distribution model.\n\nNext Insurance competes in the small commercial insurance market against Hiscox, The Hartford, and Nationwide alongside direct InsurTech competitors like Pie Insurance (workers' comp) and Vouch Insurance (startups). Its breadth of covered business types, instant quoting, and digital certificate management have driven strong small business adoption through Google Ads, partnerships with platforms like Amazon Business, and direct referrals from satisfied customers. Munich Re is a key reinsurance partner providing capacity backing for Next's rapid growth.
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