NEXT Insurance and biBERK are both digital-first small-business insurers, but with different ownership and distribution. NEXT is now part of ERGO Group (Munich Re) and works with independent agents as well as directly; biBERK is a direct-to-consumer brand backed by Berkshire Hathaway, rated A++ (Superior).
NEXT Insurance and biBERK both built their reputations on fast, online small-business insurance applications, but they come from different corporate lineages and take somewhat different approaches to distribution. NEXT Insurance was founded in 2016 in Palo Alto, California, became a licensed carrier through its own underwriting subsidiary, and has since expanded to work with independent agents in addition to its direct digital channel. In 2025, Munich Re's ERGO Group acquired NEXT, and the company has been rebranding as ERGO NEXT Insurance since the deal closed that July. NEXT's rated underwriting entity carries an AM Best Financial Strength Rating of A+ (Superior), announced September 16, 2025.
biBERK, founded in 2015, is the direct-to-consumer online brand of Berkshire Hathaway Direct Insurance Company, based in Omaha, Nebraska. Unlike NEXT, biBERK has built its model specifically around removing agents from the purchase process entirely. Its underwriting entity is included among the National Indemnity Company affiliates that AM Best rated A++ (Superior) -- one of the highest ratings AM Best issues -- affirmed April 16, 2026. Both companies' workers' comp products can be included in a side-by-side comparison through our agency.
The options
NEXT Insurance
Founded 2016; now part of ERGO Group (Munich Re); AM Best A+ (Superior); works with agents and direct.
Pros
- Fast, largely automated online application for small business and self-employed accounts
- Works with independent agents in addition to its own direct channel
- AM Best A+ (Superior), announced September 16, 2025
- Backed by ERGO Group and Munich Re following its 2025 acquisition
Cons
- Rebranding to ERGO NEXT Insurance is still underway
- Fully automated underwriting may not fit more complex or unusual risks
- AM Best rating one category below biBERK's underwriting entity
Best for
- Very small businesses and self-employed individuals wanting a fast online application
- Accounts comfortable with a digitally native servicing experience
biBERK
Founded 2015; backed by Berkshire Hathaway Direct Insurance Company; AM Best A++ (Superior); direct-to-consumer only.
Pros
- Underwriting entity included in one of the highest AM Best rating categories (A++)
- Backed by the broader Berkshire Hathaway insurance organization
- Simple, self-service online application
- No middleman built into its direct pricing model
Cons
- Direct-to-consumer only, with no independent-agent channel of its own
- Self-service servicing model may not suit businesses that want ongoing agent support
- Fewer public details on class-code appetite compared with a longer-established agent-distributed carrier
Best for
- Small businesses comfortable with a fully online, self-service purchase
- Businesses prioritizing top-tier financial strength ratings
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Side by side
| Feature | NEXT Insurance | biBERK |
|---|---|---|
| Founded | 2016, Palo Alto, CA | 2015, Omaha, NE |
| Parent/ownership | ERGO Group (Munich Re), acquired 2025 | Berkshire Hathaway Direct Insurance Company |
| AM Best rating | A+ (Superior) | A++ (Superior) |
| Rating as of | 2025-09-16 | 2026-04-16 |
| Works with independent agents | Yes | No, direct-to-consumer only |
| Application style | Fast, largely automated online | Simple, self-service online |
| How quoted | Through our agency | Through our agency |
The bottom line
NEXT and biBERK both emphasize speed and simplicity, but they differ in distribution and ownership: NEXT works through independent agents as well as direct, and is now backed by ERGO Group and Munich Re, while biBERK remains a direct-to-consumer brand backed by Berkshire Hathaway with one of the highest AM Best ratings available. Neither is a universal better choice; a business that wants ongoing agent support may lean toward NEXT's hybrid model, while one that's comfortable with a fully self-service purchase may find biBERK's structure appealing. Comparing both alongside traditional carriers is worthwhile before deciding.
Frequently asked questions
Is NEXT Insurance the same as ERGO NEXT Insurance?
Yes. NEXT Insurance is rebranding as ERGO NEXT Insurance following its 2025 acquisition by ERGO Group, a Munich Re company.
Which has the higher AM Best rating, NEXT or biBERK?
biBERK's underwriting entity is included in National Indemnity Company's A++ (Superior) rating, one category above NEXT's A+ (Superior) rating.
Can an independent agency quote biBERK?
biBERK is built as a direct-to-consumer brand; our agency can still include its workers' comp option in a side-by-side comparison for you.
Does NEXT work with independent agents?
Yes, in addition to its own direct online channel, NEXT distributes through independent agents.
Are both companies backed by well-known insurance organizations?
Yes. NEXT is now part of ERGO Group and Munich Re, and biBERK is backed by Berkshire Hathaway Direct Insurance Company.
Sources
- nextinsurance.com — https://www.nextinsurance.com/blog/next-insurance-earns-a-superior-rating-from-am-best-approaches-750000-small-business-customers/
- finance.yahoo.com — https://finance.yahoo.com/news/next-insurance-changes-name-ergo-084615809.html
- biberk.com — https://www.biberk.com/about-biberk
- markets.financialcontent.com — https://markets.financialcontent.com/stocks/article/bizwire-2026-4-16-am-best-affirms-credit-ratings-of-national-indemnity-company-and-its-affiliates?Language=english%2F1000
Last reviewed · Reviewed by Provident Financial Group licensed agents
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