These achievements come on the heels of NEXT’s full acquisition by ERGO, the primary insurance company of Munich Re

Please replace the release issued Sept. 16, 2025 with the following corrected version due to multiple revisions.

The updated release reads:

NEXT INSURANCE EARNS A+ (SUPERIOR) FINANCIAL STRENGTH RATING FROM AM BEST, APPROACHES 750,000 SMALL BUSINESS CUSTOMERS

These achievements come on the heels of NEXT’s full acquisition by ERGO, the primary insurance company of Munich Re

NEXT Insurance, a leading digital insurtech company transforming small business insurance, announced it has earned an A+g¹ (Superior) Financial Strength Rating and an aa (Superior) Long-Term Issuer Credit Rating from AM Best while approaching 750,000 small business customers nationwide.

AM Best is the world’s most widely recognized credit rating agency for the insurance industry and serves as a critical benchmark for carriers, agents, and customers to assess the financial strength and long-term stability of an insurer.

NEXT’s A+ rating demonstrates the company’s inclusion as a member of the lead rating unit, Munich Reinsurance Company (Munich Re), whose financial strength and reliability has reinforced NEXT’s ability to support entrepreneurs across a broad range of industries. It also reflects how NEXT’s advanced technology supports ongoing strategic initiatives of the Munich Re group and is laying the groundwork for sustainable growth that benefits customers today and well into the future.

“Being included in Munich Re Group’s A+ rating from AM Best is a landmark moment for our team and the entrepreneurs we serve,” said Teodora Gouneva, Chief Financial Officer of NEXT. “This rating validates the strength of our model and gives small business owners confidence that their coverage is backed by one of the most trusted authorities in the industry.”

The rating arrives as NEXT approaches the milestone of serving 750,000 small business customers.

Small business owners have long been overlooked by traditional insurers, relying on policies that are inflexible and expensive. As a result, entrepreneurs are left without the coverage they need. Founded in 2016 to close this gap, NEXT combines insurance expertise with a digital-first model to deliver fast, affordable, and tailored protection to business owners.

These achievements come on the heels of NEXT’s full acquisition by ERGO, the primary insurance company of Munich Re.

Today, NEXT supports over 1,300 professions and has seen rapid growth across key markets, including professional services, hospitality, retail and construction.

Its proprietary technology enables a fully digital experience that offers instant quotes, streamlined underwriting, and data-driven risk assessments that adapt coverage to the realities of each business. Combined with guidance from trusted agents and advisors, NEXT’s approach to insurance ensures SMBs get the protection that fits their evolving risks without delays or complexity.

“Small businesses are the backbone of the economy, and NEXT is proud to support nearly 750,000 entrepreneurs,” said Tim McDermott, director of insurance product management at NEXT. “Our mission has always been to make insurance simple and affordable so business owners can focus on running their companies with confidence. This milestone reflects the trust they place in our expertise and technology, and it inspires us to keep innovating.”

NEXT continues to demonstrate market momentum through product innovation and expansion. Over the past year, the company expanded its Business Owners' Policy to 41 states including New York and Texas, launched multi-location workers’ compensation coverage to simplify protection for growing businesses, and introduced standalone Professional Liability coverage tailored to consultants.

New digital tools that support small business owners, agents and partners include ACH Payments, Coverage Builder, and Agent Copilot to streamline workflows and create more revenue opportunities for agents. By pairing innovative products with efficient digital experiences, NEXT is strengthening its role as a trusted partner for the small business community.

Visit www.nextinsurance.com to learn more about NEXT Insurance.

About NEXT Insurance

NEXT Insurance is a leading digital insurer transforming small business insurance with simple, digital coverage tailored to entrepreneurs.

We utilize AI and machine learning to simplify the purchasing process for coverage with 24/7 access to servicing, including Certificates of Insurance, additional insured, and more.

After years of close partnership, we were acquired in 2025 by Munich Re Together, we’re making small business insurance simpler and smarter to help more small businesses thrive.

For more information, visit NextInsurance.com. Stay up to date on the latest with NEXT on LinkedIn, Facebook and our blog.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250916942189/en/

SMBs have long been overlooked by traditional insurers, relying on policies that are inflexible and expensive. NEXT combines insurance expertise with a digital-first model to deliver fast, affordable, and tailored protection to SMB business owners.