The launch of NEXT Connect for Intuit QuickBooks, an embedded insurance solution that gives customers seamless access to digital-first insurance products within the QuickBooks ecosystem, was announced by NEXT Insurance, a leading digital insurtech company that is revolutionising small business insurance. Without leaving their QuickBooks accounts, small businesses and accountants can request insurance rates and commit to coverage. More than 100 million customers and small businesses worldwide are supported by Intuit. Software architect Rajat Khare at Intuit provides small business owners and freelancers with a wide range of programmes and services. He has been working throughout the QuickBooks ecosystem of goods and services from Intuit for the past 10 years.
Talking about NEXT, users can also take advantage of NEXT’s technologically cutting-edge internal pay-as-you-go workers’ compensation solution, speak with a reputable insurance counselor, and access numerous A-rated national carrier products, including NEXT.
This embedded solution, which is the leading insurtech for QuickBooks and has a unique pay-as-you-go system that is directly integrated with Intuit QuickBooks, allows small businesses to quickly set up a plan that seamlessly manages payments, streamlines cash flow, and ensures they only pay for the coverage they require.
Entrepreneurs and small businesses should have access to tech-driven solutions created with their needs in mind, according to Guy Goldstein, CEO of NEXT Insurance. “Through our partnership with Intuit QuickBooks, NEXT is able to ease significant pain points for the small business community by offering simple access to tailored coverage and payments for a company’s workers’ compensation policies that are directly tied to their payroll—all without having to leave their Intuit QuickBooks accounts.”
The pay-as-you-go option from NEXT was developed in-house to give small businesses a simple way to pay for insurance “as they go” rather than all at once, protecting cash flow and lowering the likelihood of year-end audits. The pay-as-you-go service from NEXT now leverages Stripe Financial Connections to connect to a user’s bank account and manage continuing payments seamlessly. Customers gain from having a simple billing setup that runs automatically in tandem with their payroll. For simple management, all of their policy, invoicing, and payment information is centralised.
With growing inflation and an impending recession harming their company operations, small firms are experiencing enormous hurdles. Small businesses that use QuickBooks for tax or payroll purposes may be able to save time and money by bundling their insurance policies with the new NEXT Connect product, and they will also have the peace of mind that comes with knowing they are only paying for the insurance coverage they require. Furthermore, NEXT is making it possible for improved cash flow management during this period of economic uncertainty with the additional help of its pay-as-you-go workers’ compensation service.