Small Businesses to Benefit from Integrations of Insurance and 401(k) Services on QuickBooks Platform

Intuit Inc. (Nasdaq: INTU) today announced the availability of two new offerings — QuickBooks Insurance and separately, 401(k) powered by Guideline¹ — further expanding the capabilities of the QuickBooks Online platform to help small businesses succeed and help their employees thrive.

QuickBooks customers can now protect their businesses with comprehensive insurance coverage and offer their employees a 401(k) benefit, traditionally offered only by large companies. Small business owners can evaluate, purchase, manage and track their QuickBooks Insurance and 401(k) plans starting from within QuickBooks, using the information already available on the platform.

QuickBooks is working with select partners to provide these two critical components of business operations that are often overlooked or perceived to be unattainable.

“There are aspects of running a small business that don’t always make it to the top of the priority list because they are time-consuming, complicated or perceived as cost-prohibitive,” said Jon Fasoli, vice president, Intuit QuickBooks, Small Business Self-Employed Group. “We want to eliminate these barriers so that small businesses can operate efficiently, effectively and with confidence.”

QuickBooks Insurance

Some 40% of small businesses are not insured, and of those that are, 75% are underinsured by 40% or more, according to the Insurance Information Institute.

The result is that many small businesses have insufficient coverage in key areas, leaving them vulnerable when the unexpected happens. In addition, the traditional process of obtaining business insurance is cumbersome and complex. Many agencies require small business owners to fill out several forms to initiate a purchase process that can take several days to weeks to complete.

QuickBooks Insurance makes it easy and convenient for a small business to become insured online in minutes. Accessible via the Insurance tab from within QuickBooks, QuickBooks Insurance offers general liability, professional liability, employment practices liability, workers’ compensation, commercial auto, cyber and earthquake insurance through four highly-rated² providers: AP Intego, Coterie, Cover Genius and Next Insurance.

QuickBooks uses artificial intelligence (AI) to recommend the best insurance policy to customers based on relevant information that already exists within QuickBooks and their unique insurance needs. This information helps QuickBooks find the right provider and expedite the application process. Once customers purchase an insurance policy, they can view key details of the policy and provider in their QuickBooks account.