Carrier comparison
NEXT Insurance vs. Pie Insurance for Workers' Comp
NEXT Insurance and Pie Insurance are two workers' compensation carriers we can quote side by side through Provident Financial Group, an independent agency. On one application we present every carrier we can access, ranked, so you can compare and purchase online.
NEXT Insurance and Pie Insurance take different approaches to workers' compensation for small businesses. The details below come directly from each carrier's record on this site — we present the facts we have verified so you can compare them directly, then request quotes through our agency. We do not rank one carrier above another; we show every option side by side.
When you submit one application through US Workers Comp Insure, we request quotes from every carrier we can access for your class code and state, including both NEXT Insurance and Pie Insurance where each carrier's appetite and underwriting criteria allow it. A carrier that declines is shown honestly rather than hidden, and a licensed agent at Provident Financial Group can explain why and what alternatives remain.
The two carriers
NEXT Insurance
NEXT Insurance is a small-business insurtech founded in 2016 in Palo Alto, California, now operating under the ERGO NEXT Insurance brand following its 2025 acquisition by ERGO Group, a Munich Re company. NEXT's underwriting entity carries an AM Best Financial Strength Rating of A+ (Superior).
- AM Best rating:
- A+ (Superior) (as of 2025-09)
- How it’s quoted:
- Through our agency, alongside other carriers
Workers’ comp highlights
- AM Best Financial Strength Rating of A+ (Superior); Long-Term ICR aa (Superior), announced September 16, 2025
- Founded 2016 in Palo Alto, California, as a digital-first small-business insurer
- Acquired by ERGO Group (Munich Re); deal closed July 2025, rebranding to ERGO NEXT Insurance underway
- Fast, largely automated online application built for small business and self-employed accounts
- Reported approaching 750,000 small-business customers as of its 2025 AM Best announcement
- Distributes through independent agents in addition to its direct online channel
Typical fit
- Very small businesses and self-employed individuals wanting a fast online application
- Micro-businesses with simple, single-state operations
- Employers comfortable with a digitally native, app-driven servicing experience
- Accounts that value speed of issuance over in-person agent consultation
Pie Insurance
Pie Insurance is a Washington, D.C.-based insurtech founded in 2017, built around pay-as-you-go workers' comp for small business. Pie carries an AM Best Financial Strength Rating of A- (Excellent), secured in 2023 when it completed its transition to a rated carrier underwriting its own paper.
- AM Best rating:
- A- (Excellent) (as of 2023-02)
- How it’s quoted:
- Through our agency, alongside other carriers
Workers’ comp highlights
- AM Best Financial Strength Rating of A- (Excellent), secured February 2, 2023
- Pay-as-you-go billing built into the product from launch, synced to payroll
- Founded 2017 in Washington, D.C.
- Became a rated, full-stack carrier underwriting its own policies in 2023
- Digital-first application process aimed at small businesses
- Works with independent agents in addition to direct online quoting
Typical fit
- Small businesses that want payroll-synced, pay-as-you-go billing
- Employers seeking a fully digital application and policy-management experience
- Newer or growing businesses without extensive claims history
- Accounts comfortable with a newer, insurtech-model carrier
Compare up to 10 carriers in minutes.
One application goes out to every carrier we can access for your class of business. You get a ranked comparison you can review and purchase online — with a licensed agent available whenever you want one.
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Side by side
| Attribute | NEXT Insurance | Pie Insurance |
|---|---|---|
| Carrier | NEXT Insurance | Pie Insurance |
| AM Best financial strength rating | A+ (Superior) (as of 2025-09) | A- (Excellent) (as of 2023-02) |
| How it's quoted | Through our agency, alongside other carriers | Through our agency, alongside other carriers |
| Typical account fit | Very small businesses and self-employed individuals wanting a fast online application; Micro-businesses with simple, single-state operations; Employers comfortable with a digitally native, app-driven servicing experience | Small businesses that want payroll-synced, pay-as-you-go billing; Employers seeking a fully digital application and policy-management experience; Newer or growing businesses without extensive claims history |
| Overview | NEXT Insurance is a small-business insurtech founded in 2016 in Palo Alto, California, now operating under the ERGO NEXT Insurance brand following its 2025 acquisition by ERGO Group, a Munich Re company. NEXT's underwriting entity carries an AM Best Financial Strength Rating of A+ (Superior). | Pie Insurance is a Washington, D.C.-based insurtech founded in 2017, built around pay-as-you-go workers' comp for small business. Pie carries an AM Best Financial Strength Rating of A- (Excellent), secured in 2023 when it completed its transition to a rated carrier underwriting its own paper. |
How each is quoted through our agency
NEXT Insurance
Quoted through our agency alongside other carriers; we present every option side by side so you can compare and purchase online.
Pie Insurance
Quoted through our agency alongside other carriers; we present every option side by side so you can compare and purchase online.
The bottom line
There is no single "best" carrier between NEXT Insurance and Pie Insurance. The right fit depends on your operation, class codes, payroll and how each carrier's underwriting appetite lines up with your account — and that is exactly what one application, sent to every carrier we can access, is built to show you.
Rather than choosing one carrier up front, US Workers Comp Insure requests quotes from every carrier we can access for your state and class code, including NEXT Insurance and Pie Insurance where each carrier's criteria allow it, and presents them ranked side by side. A carrier that declines is shown honestly rather than hidden, and a licensed agent at Provident Financial Group can explain why and what alternatives remain.
Frequently asked questions
Are NEXT Insurance and Pie Insurance both available through your agency?
Yes. Both are carriers we can present side by side when you request workers' compensation quotes through our agency, alongside the other carriers we can access for your state and class code.
How do NEXT Insurance and Pie Insurance compare on AM Best rating?
NEXT Insurance carries an AM Best financial strength rating of A+ (Superior) (as of 2025-09), and Pie Insurance carries A- (Excellent) (as of 2023-02). Ratings are for identification only and do not imply an endorsement.
Which should I choose, NEXT Insurance or Pie Insurance?
There is no single best answer. The right carrier depends on your operation, class codes, payroll and how each carrier's underwriting appetite fits your account. Rather than picking one up front, we request quotes from every carrier we can access and show you a ranked comparison so you can decide.
Do I have to choose only one carrier to get a quote?
No. You submit one application and we request quotes from every carrier we can access for your account — including NEXT Insurance and Pie Insurance where each carrier's criteria allow it — then present them ranked side by side.
Is NEXT Insurance the same company as ERGO NEXT Insurance?
Yes. NEXT Insurance is rebranding as ERGO NEXT Insurance following its 2025 acquisition by ERGO Group, a Munich Re company; it is the same underlying business.
What is NEXT's AM Best rating?
NEXT's rated underwriting entity earned an AM Best Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of aa (Superior), announced September 16, 2025.
How long has Pie Insurance been a rated carrier?
Pie secured its AM Best Financial Strength Rating of A- (Excellent) on February 2, 2023, when it completed its transition to underwriting its own policies as a full-stack carrier.
Does Pie only offer pay-as-you-go billing?
Pie's workers' comp product is built around pay-as-you-go billing synced to payroll, which is a core feature of how the company structures its policies.
Sources
- nextinsurance.com — https://www.nextinsurance.com/blog/next-insurance-earns-a-superior-rating-from-am-best-approaches-750000-small-business-customers/
- workcompwire.com — https://www.workcompwire.com/2025/09/next-insurance-earns-a-superior-rating-from-am-best/
- finance.yahoo.com — https://finance.yahoo.com/news/next-insurance-changes-name-ergo-084615809.html
- pieinsurance.com — https://www.pieinsurance.com/resource-center/press/pie-secures-am-best-rating
- pieinsurance.com — https://www.pieinsurance.com/about/timeline
- prnewswire.com — https://www.prnewswire.com/news-releases/pie-insurance-secures-a--excellent-credit-ratings-from-am-best-and-completes-transition-to-a-rated-full-stack-carrier-301736881.html
Last reviewed · Reviewed by Provident Financial Group licensed agents
Carrier names are used for identification only; we are not affiliated with, endorsed by, or sponsored by any carrier. Quotes are not offers of insurance; coverage and pricing are determined by each carrier’s underwriting.
US Workers Comp Insure is a brand of Provident Financial Group, a licensed independent insurance agency. NJ resident license; licensed in 23 states — NJ, NY, CT, VT, OH, MI, VA, PA, DE, MD, NC, SC, GA, FL, TX, KY, KS, CA, IN, AZ, DC, MA and NV. State license numbers available on request. We are an independent agency, not an insurer; coverage is underwritten by the issuing carrier and is subject to that policy's terms, conditions, limits and exclusions. Quotes are not offers of insurance, and no coverage is bound until confirmed in writing by a licensed agent. Carrier names are used for identification only; we are not affiliated with, endorsed by, or sponsored by any carrier named on this site.
View this comparison at https://usworkerscompinsure.com/compare/next-insurance-vs-pie-insurance-workers-comp
Compare up to 10 carriers in minutes.
One application goes out to every carrier we can access for your class of business. You get a ranked comparison you can review and purchase online — with a licensed agent available whenever you want one.
Mon–Fri, 8:00am–6:00pm ET · Independent agency licensed in 23 states