Next Wave Insurance Services

What Next Wave Insurance Services does

Next Wave Insurance Services, LLC (doing business as Vertical Insure) is a US-licensed insurance producer operating an embedded insurance platform for vertical SaaS companies. Founded in 2005 and headquartered in San Diego with a parent operating presence in Minneapolis, the company provides thirteen specialized insurance products — including Registration Cancellation, Event Liability, Event Cancellation, Ticket Refund Protection, Travel Insurance, Pet Insurance, Tuition Insurance, Membership Interruption, Builder's Risk, Renters Insurance, Collectibles Insurance, Shipping Insurance, and Gap Medical Insurance — that are embedded directly into partner platform checkout flows at the point of transaction.

The underlying technology is an API-based integration platform with a Partner Dashboard for revenue and conversion tracking, developer documentation at docs.verticalinsure.com, and partner/customer portals for self-service management. The company targets twelve vertical industry segments, including youth sports and recreation, camps, club memberships, pets, education, event ticketing, event management, travel, construction, legal software, property, and collectibles, with eighteen named platform partners including SportsEngine, LeagueApps, Stack Sports, TeamSnap, Aktivate, Big Teams, CampSEZ, Planning Pod, Kasa, and MotorsportReg.

Revenue is generated on a transaction-fee basis: the company takes a share of insurance premiums written through embedded placements, and partner platforms receive a portion of that revenue as a no-cost incremental revenue stream. Implementation is hands-off, with Vertical Insure's developers handling integration. The parent entity, Vertical Insure, Inc., also operates a Canadian subsidiary (Saas Insure Services Inc.), and the company holds SOC compliance certification and licensed insurance producer status in the US states where it transacts. The company is private, has not disclosed any external funding rounds, and operates with a headcount of 11–50 employees.

Name

Next Wave Insurance Services

Legal name

Next Wave Insurance Services, LLC

Website

https://nextwaveins.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Next Wave Insurance Services (d/b/a Vertical Insure) provides embedded insurance products integrated into vertical SaaS platform checkout flows, serving 18+ named platform partners across sports, events, travel, education, pets, and eight other verticals through 13 specialized insurance products.

Ownership category

akta.pro rank

Product category

Embedded Insurance Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Other Insurance Related Activities (52429), Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)

akta.pro primary industry

Embedded Insurance & Affinity Distribution Platforms (FSAGAGAL)

akta.pro secondary industries

Event Cancellation & Contingency (FSAJAGAN), Embedded Travel Insurance Distribution & APIs (THALALAA)

Keywords

• Embedded insurance
• Vertical SaaS insurance
• Insurance producer services
• Registration cancellation insurance
• Insurance API integration

Headquarters

HQ city

San Diego

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Embedded Insurance Products: Revenue generated from insurance products embedded into partner SaaS platforms at point of transaction. Partners receive a share of insurance revenue as a no-risk, no-cost revenue generator without operational complexity.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Next Wave Insurance Services (operating as Vertical Insure) is a licensed insurance producer that enables vertical SaaS platforms to embed tailored insurance products directly into their checkout flows. The company offers 13 distinct insurance products—including registration cancellation, event liability, pet insurance, tuition insurance, travel insurance, and renters insurance—across 12 vertical industries such as sports, camps, education, events, travel, and property, with partners receiving a share of insurance revenue as a no-risk income stream.

Product overview

Next Wave Insurance Services (operating as Vertical Insure) provides an embedded insurance platform enabling vertical SaaS companies to offer insurance products within their online transactions. The platform architecture centers on embedding 13 distinct insurance products—Registration Cancellation, Gap Medical Insurance, Membership Interruption, Pet Insurance, Event Liability, Event Cancellation, Tuition Insurance, Ticket Refund Protection, Travel Insurance, Builder's Risk, Renters Insurance, Collectibles Insurance, and Shipping Insurance—into partner platforms across 12 industry verticals (Sports, Camps & Recreation, Club Memberships, Pets, Education, Event Ticketing, Event Management, Travel, Property, Construction, Legal Software, and Collectibles). The platform provides partners with a no-risk revenue generator through embedded placement at checkout, with a Partner Dashboard for revenue tracking. Implementation is described as hands-off, with Vertical Insure developers handling integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Registration Cancellation Insurance Insurance coverage that protects consumers against event or registration cancellation, providing refunds when planned activities are canceled. Designed for youth sports leagues, camps, and registration-based platforms.
• Gap Medical Insurance Supplemental medical insurance that fills gaps in primary health coverage for consumers purchasing coverage through partner platforms.
• Membership Interruption Insurance Coverage for interruption of membership services due to qualifying events, targeted at clubs, gyms, and subscription-based platforms.
• Pet Insurance Insurance coverage for veterinary expenses, pet health emergencies, and related costs distributed through veterinary and pet clinic management platforms.
• Event Liability Insurance Liability coverage for event organizers, venues, and hosts against claims arising from events, distributed through event planning and management platforms.
• Event Cancellation Insurance Protection against financial loss when events must be canceled due to covered circumstances, distributed through event platforms.
• Tuition Insurance Insurance protecting families against loss of tuition payments due to student withdrawal or program cancellation, distributed through education platforms.
• Ticket Refund Protection Protection enabling consumers to receive refunds for event tickets when they cannot attend due to covered reasons, distributed through ticketing platforms.
• Travel Insurance Coverage for trip cancellations, interruptions, and travel-related issues for consumers booking travel through partner booking platforms.
• Builder's Risk Insurance Property insurance coverage for construction projects against damage to materials and structures during the building process, distributed through construction project management platforms.
• Renters Insurance Coverage for renters protecting personal property and liability within rented residences, distributed through property management platforms.
• Collectibles Insurance Specialized coverage for valuable collectibles, including protection against damage, loss, or theft, distributed through resale and e-commerce platforms.
• Shipping Insurance Coverage protecting against loss, damage, or delays during shipping of goods and packages, distributed through e-commerce and marketplace platforms.

Quantifiable outcome

• No-risk, no-cost revenue generator with zero disruption to registration and conversions

Named customers18 records

Segments12 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Seven partnerships are on record, tiered core.

• SportsEnginecoreTechnology or IntegrationYouth sports management platform partner integrating registration cancellation insurance and related coverage products into their sports registration software for youth sports organizations and leagues.
• LeagueAppscoreTechnology or IntegrationSports management platform partner offering embedded insurance solutions for sports organizations, leagues, and clubs using their registration and management software.
• Stack SportscoreTechnology or IntegrationSports platform partner integrating insurance products into their sports management and registration software ecosystem.
• TeamSnapcoreTechnology or IntegrationTeam and sports management platform partner offering embedded insurance solutions for team managers, leagues, and sports organizations.
• CampSEZcoreTechnology or IntegrationCamp management platform partner integrating insurance products for camp registrations and recreation programs.
• AktivatecoreTechnology or IntegrationSports management platform partner offering embedded insurance solutions for sports programs and activities.
• Big TeamscoreTechnology or IntegrationSports management platform partner offering embedded insurance for youth sports organizations and leagues.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Cover Genius: Cover Genius is a leading embedded insurance platform that distributes licensed insurance products via APIs into partner checkout flows across e-commerce and travel verticals. It is a direct peer to Next Wave / Vertical Insure in embedding point-of-transaction insurance coverage for digital platforms.
• Buckle: Buckle is an embedded insurance platform focused on gig-economy and on-demand workers, offering coverage products distributed through partner platforms. It is comparable to Next Wave in operating an API-driven, partner-embedded insurance model targeting vertical use cases.
• Boost Insurance: Boost Insurance provides embedded insurance infrastructure ( APIs, compliance, carrier access) enabling digital platforms to launch and distribute insurance products. It competes directly with Next Wave's Vertical Insure platform by powering embedded insurance for SaaS and fintech partners.
• Thimble: Thimble (formerly Verifly) sells on-demand, short-term insurance that can be embedded into platforms serving event organizers, freelancers, and small businesses. It is a direct peer in providing transactable, embedded commercial and event insurance products via digital channels.

Broad incumbents

• Embroker: Embroker is a commercial insurance technology company digitizing specialty commercial insurance for businesses. It is a broad incumbent in tech-enabled insurance distribution, comparable to Next Wave in applying technology to streamline niche insurance, though at the broker/carrier intersection rather than embedded SaaS distribution.
• Lemonade: Lemonade is a publicly-traded insurtech offering renters, pet, and other consumer insurance through a mobile-first, AI-driven app. It is a broad incumbent in insurtech, overlapping with Next Wave on product lines such as pet and renters insurance, though Lemonade is a direct carrier rather than an embedded wholesaler.
• Newfront Insurance: Newfront is a tech-enabled commercial insurance brokerage serving high-growth and technology clients with a digital platform. It is a broad incumbent in digitally transforming insurance placement, comparable to Next Wave's tech-forward, vertical-specialized approach.

Regional players

• Reliance Partners: Reliance Partners is a U.S. insurance brokerage specializing in transportation, trucking, and logistics risks, with technology-enabled distribution. It is a regional/vertical-specialized broker comparable to Next Wave in serving niche industries with tailored coverage, though focused on transportation rather than SaaS-embedded distribution.

Emerging players

• Trov: Trov provides on-demand and embedded insurance products (e.g., for mobility, electronics, travel) distributed through partner platforms and APIs. It is an emerging player in embedded insurance comparable to Next Wave's partner-led, transactional insurance model.
• Petplan: Petplan is a pet health insurance provider offering accident, illness, and wellness coverage for cats and dogs, often distributed through veterinary and employer channels. It overlaps with Next Wave's pet insurance product line, though Petplan is a direct carrier rather than an embedded platform.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/NextwaveIns

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Next Wave Insurance Services