Next Insurance is touting a new online option that it said can help small businesses and their customers verify a certificate of insurance in real time.

The California-based provider of digital small business insurance named the tool “Live Certificate” and claims to be the first U.S.-based insurance provider to offer it. Next said the feature advances considerably over normal proof-of-insurance verifications such as printed documents, which carry the risk of certificate fraud.

“We are the first in the industry in the U.S. to offer real-time certificate of insurance verification through our online customer portal, enabling immediate access for small business customers to verify active insurance policies,” Next Insurance co-Founder and CEO Guy Goldstein said in prepared remarks.

Goldstein said that insurers have not traditionally given customers the security and transparency they need for the certificate of insurance verification, and that this new online option will be both quicker and more secure. Next Insurance said its Live Certificate lets policyholders validate their certificate of insurance digitally, either from computer or mobile phone. Next Insurance is the verifying third party.

The Live Certificate is free to all customers, and unlimited certificates are available.

How Live Certificate works: Policyholders can email their customers a link to Live Certificate in real time, through Next Insurance’s online customer portal, via computer or mobile phone. Once in possession of the link, customers can instantly verify the policy’s validity online, including policy expiration and additional insured information. Customers know they’re protected once they gain the verification.

Next Insurance released its new online portal last fall. Customers can also use the portal to cancel a policy instantly with no penalty fees. They can also add an additional insured with the click of a button.

Next Insurance launched in 2016 and has received a total of $53 million in venture capital funding from Ribbit Capital TLV Partners, Zeev Ventures, Munich Re Ventures, Markel, Nationwide, American Express and others.

Source: Next Insurance