Avetta Partners With NEXT to Provide Instant Insurance Solutions for Small Businesses

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ByJulija A.
October 11, 2021

Avetta, a provider of supply chain risk management software, partnered with NEXT Insurance on October 5. Their collaboration is focused on providing suppliers with affordable and more instant access to coverage solutions.

Avetta and NEXT joined forces to better cater to small business clients that are in need of swift and cost-effective coverage options. While Avetta has a base of 125,000 suppliers who use its discounted offerings of safety-related products and services, NEXT offers affordable and tailored insurance for small businesses.

“Small business insurance may be necessary, but it doesn’t have to be challenging or costly to obtain. Like Avetta, NEXT is committed to streamlining processes and removing pain points in order for small businesses to thrive,” said John Dwight, Head of Channel Sales at NEXT. “Our partnership allows for more small businesses to obtain an instant, tailored policy without leaving their Avetta account. This allows them to focus on what matters most while knowing they’re securely protected.”

The seamless application process enables customers to log into their Avetta Connect accounts, link to NEXT’s products, and purchase one of the insurance coverage options. These include general liability, workers’ compensation, errors and omissions, and commercial property. This allows members of Avetta’s small business network to save up to 30% on premiums and avoid bottlenecks along the way.

According to a survey commissioned by NEXT that involved more than 30,000 small businesses, only 56% of those who have been in business for a year or longer have or had insurance. Meanwhile, 44% of applicants never had any form of coverage.

That’s where NEXT comes in. The company helps small businesses protect their assets, increase reliability, and boost security. At the same time, Avetta helps companies increase visibility, mitigate risk, and build a diverse and strong supplier base.  

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Albert Einstein is said to have identified compound interest as mankind’s greatest invention. That story’s probably apocryphal, but it conveys a deep truth about the power of fiscal policy to change the world along with our daily lives. Civilization became possible only when Sumerians of the Bronze Age invented money. Today, economic issues influence every aspect of daily life. My job at Fortunly is an opportunity to analyze government policies and banking practices, sharing the results of my research in articles that can help you make better, smarter decisions for yourself and your family.

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