Next Insurance, an insurtech focused on small businesses, announced the purchase of Juniper Labs, a provider of alternative data and underwriting technology for the same line.
The acquisition adds machine learning capabilities to Next’s stack as it develops workers’ compensation and general liability product offerings. Juniper Labs provides better risk transparency by leveraging open data and machine learning to build tools for streamlined data collection and automated underwriting.
Sofya Pogreb, COO of Next Insurance shares, “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. We look forward to bringing on the Juniper Labs team to further our goal of being the one-stop-shop for small business insurance.”
Juniper also brings design and machine learning to Next, the companies say. Lance Poole, co-founder and CEO of Juniper Labs shares, “Next Insurance and Juniper Labs believe that data is a key differentiator in the effort to provide a better online experience at a more affordable price.”
