QuickBooks Insurance has been discontinued

In 2020, Intuit announced plans to offer QuickBooks customers commercial insurance products beyond workers’ compensation, which is still offered through QuickBooks Online Payroll in partnership with Next Insurance. To do this, Intuit partnered with companies such as Coterie Insurance, Coalition, Cover Genius, and Next Insurance.

The initiative was led by Mauricio Comi, who ended up leaving Intuit to build the insurance operations for cannabis startup Dutchie, and the ultimate vision was to operate an MGA behind the QuickBooks ecosystem.

Based on information we obtained, QuickBooks Insurance has been discontinued recently after failing to achieve traction and ROI goals. According to one piece of data, the QuickBooks Insurance team was able to scale insurance products to $10 million in annual gross written premiums.

Bottom Line: Nearly two years ago we shared the following with Coverager Research members: “The biggest challenge for the folks at QuickBook Insurance isn’t distribution or setting up a customer support center – it’s convincing Intuit that insurance is meaningful enough in terms of the revenue it can generate.”