Allstate, an American insurance company, and Allianz X, a company that invests in digital frontrunners in ecosystems relevant to insurance and asset management, agreed to invest $265m in Next Insurance, a technology-first small business insurer. "We founded NEXT because we saw an opportunity to help millions of small and microbusinesses across the U.S. and made it our mission to help entrepreneurs thrive. Building on our existing support, we are excited to welcome Allianz X and Allstate as investors, deepen our reinsurance relationship with Allianz Re, and foster a meaningful partnership with Allstate to offer millions of their customers our one-stop-shop small business insurance offering," Guy Goldstein, NEXT Insurance CEO and co-founder.