Next Insurance Buys Data Firm Juniper Labs to Enhance Workers’ Compensation Offering
Digital small business insurer Next Insurance has closed its first acquisition, buying Juniper Labs, a Denver-based provider of data and underwriting technology.
With the acquisition, Next said it will focus on innovation in workers’ compensation and general liability product offerings through the use of machine learning technology.
Next’s acquisition announcement comes less than three months after it expanded its workers’ compensation offering into 24 additional states, bringing the total number to 30.
“This strategic acquisition of Juniper Labs’ technology and expertise in workers’ compensation will deepen our investments in relevant technologies such as machine learning, which will help scale pricing and decision making,” said Sofya Pogreb, Next Insurance chief operating officer, in prepared remarks.