German insurance giant Ergo expanding to the United States after receiving Next insurance.
$ 2.6 billion contract announced in a news release on Friday (March) will allow Ergo to own Munich re – To cover 30 million companies in the United States.
“However, the insurance prestige among these types of companies remains less than 75% of the United States, 75% of small enterprises are injured,” he said. “Total targeted market is very fragmented and appreciated about $ 175 billion, offers significant growth potential.”
Founded in 2016 and provided in Palo Alto in California, then provides Property and loss insurance Taking focus on small enterprises, suggestions, including general responsibility and compensation of employees. The issue noted that the company has seen “significant growth” in the last eight years and created a $ 548 million high line in 2024.
“This operation will put forward the side that allows us to expand our technology approach and strengthen smaller business owners with smaller business owners,” he said Guy goldsteinNextin CEO.
“We are preparing to accuse ERGO and the strength and experience of Munich Re-known and how their well-known recognizable and insurance in the United States.”
In other insurance news, PYMNTS recently spoke An Inc Income officer Kevin Ostrander He said that payments in that industry could be inefficient and frequent paper-based.
Still carried out what he considered the sector “a Mass digital transformation Over the past 20 years, “promises to accelerate workflows and payments.
“Initially, the transformation first wrote hundreds of applications, shipping work,” PYMNTS “, which manages carriers, carriers, carriers and insurance transactions.
Carriers said a number of processes and an optimized customer experience, Ostander PYMNTS.
When it comes to payments, “Generally, the concept of receiving a payment or a payment when you think of payments is not really complicated,” he said.
Complications stem from insurers and their clients to reach each other when they can pay and where they want to be paid.
“Paper is still dominant Insurance industry, both input, and on the paid side, “Ostrander.
