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NEXT Insurance, the starring integer insurtech institution transforming tiny concern insurance, contiguous announced the assignment of IPO veteran Teodora Gouneva as the company’s Chief Financial Officer, pursuing different twelvemonth of important growth, innovation and concern momentum. She steps into the relation antecedently held by Michelle Cheung, who volition present service arsenic NEXT’s archetypal Chief Corporate Officer and volition pb the company’s legal, radical and operations functions. As CFO, Gouneva volition thrust the company’s fiscal operations and proceed to standard its show and absorption processes to further equip the institution for sustainable growth. Gouneva joins NEXT aft different twelvemonth of milestones: the institution tripled its gross written premium past twelvemonth – reaching a $650 million run complaint – and kicks disconnected 2022 with the motorboat of a new mobile app.
“I’m precise excited to articulation the dedicated squad astatine NEXT who genuinely cares astir helping unlock the imaginable of entrepreneurs and tiny businesses everywhere, and I’m looking guardant to gathering connected the company’s achievements successful 2022 and beyond,” Gouneva said. “I americium passionate astir however exertion and innovation tin amended and beforehand age-old industries that radical trust connected everyday. NEXT’s ngo to alteration tiny concern security for the bully of their customers aligns incredibly good with my interests and expertise,” Gouneva said.
Gouneva brings implicit 20 years of acquisition moving successful concern astatine large concern banks and hypergrowth exertion companies, including PayPal and Airbnb wherever she supported their palmy IPOs. She besides has extended acumen successful M&A, equity and indebtedness financing, planetary enlargement and caller merchandise launches. As the VP of Finance astatine Airbnb, she built the concern business relation and created show and fiscal absorption processes needed to alteration maturation arsenic a nationalist company. Prior to Airbnb, she spent implicit 15 years astatine PayPal successful assorted concern enactment roles, including CFO of acquired companies Venmo and Braintree.
NEXT continues to innovate, launching a mobile app that provides customers with on-the-go entree to their policies. Now disposable connected the App Store and Google Play, NEXT’s mobile app allows customers to easy entree and share certificates of insurance (COIs), negociate their sum and payments, record claims, and more. With much than fractional of NEXT’s nonstop customers accessing their online accounts from mobile devices, the caller app volition emergence to the needs of today’s tiny concern customers and marque solving security needs adjacent easier.
This quality comes connected the heels of yet different palmy twelvemonth for NEXT. In 2021, the institution secured a $250 millionfunding circular astatine a $4 billion valuation, received an “A- Excellent” standing from AM Best, launched a palmy rebrand and much than doubled its headcount. Additionally, the institution solidified a robust multi-channel acquisition exemplary and contiguous is 1 of the largest nonstop integer security providers for tiny businesses seeking retired wide liability insurance, workers comp, nonrecreational liability and more.
“We are thrilled to person Teodora articulation NEXT and her assignment marks a important measurement successful our travel towards scaling our concern and becoming the fig 1 security supplier successful the U.S. for tiny businesses,” said Guy Goldstein, CEO and co-founder of NEXT. “2021 was different unthinkable twelvemonth astatine NEXT, and I could not beryllium much arrogant of our squad for making specified important and bold strides to enactment our ngo to assistance entrepreneurs thrive. In 2022 we are determined to proceed providing affordable, customized and accessible security sum for our customers.”
Key 2021 Growth Highlights At a Glance:
- Continued Path Towards Being the #1 U.S. Small Business Insurance Provider:
- Tripled gross written premium reaching $650 million run rate
- Raised a $250 million funding circular doubling the company’s valuation to $4 billion
- Tripled lawsuit base, present serving over 300K small businesses
- Renewed Commitment to Small Businesses, Revamped Brand:
- Unveiled a caller strategical rebrand integrating tiny concern owners into each portion of the company’s business, civilization and ethos
- Committed $4 million to enactment tiny concern owners implicit the adjacent 3 years
- A Supercharged Year for Partnerships:
- Completed acquisition and integration of AP Intego which included heavy partnerships with leading tiny concern bundle ecosystems similar Intuit, Gusto, Square and Toast among hundreds others
- Launched archetypal embedded security solution, NEXT Connect
- Announced its information successful the Amazon Insurance Accelerator, providing 3rd enactment sellers with elemental and affordable security coverage
- Solidified partnerships with Amazon Business Prime and Avetta
- Agent Growth:
- Grew autarkic bureau transmission premium by 6x
- Grew autarkic agents by 2.5x
- Released a marque caller cause portal with enhanced lawsuit absorption tools and resources to assistance agents turn their business
- Product Innovation to Support Becoming a One-Stop-Shop:
- Coverage and NEXT Carrier State Expansion:
- Increased merchandise availability to each 50 states + DC
- Grew NEXT bearer sum to 41 states
- Phenomenal Customer Service:
- Achieved an mean reappraisal of 4.7+ connected Google and an NPS people of 75
- Launched claims automation for instant lawsuit self-service
- Notable Recognitions:
- NEXT was the lone tiny concern insurtech to person an “A- Excellent” standing by AM Best
- NEXT received galore accolades this year, including Forbes Fintech 50, Inc’s Best-Led Companies, Forbes America’s Best Start Up Employers, CB Insights Fintech 250, BuiltIn’s Best Companies successful the Bay Area and duns
- NEXT Insurance Continued to Grow its Team:
- Grew worker basal by 2.4x bringing full headcount to astir 950
NEXT is hiring! We are hiring cardinal positions connected our information science, engineering, selling teams and more. Visit our careers leafage and use today!