NEW YORK — Slice Labs Inc., an insurtech startup set to launch the industry’s first on-demand insurance platform to support the on-demand economy, has secured $3.9 million in seed funding led by Horizons Ventures and XL Innovate.
Slice is reimagining insurance for the new economy using design, technology, and data. The Slice on-demand insurance platform allows participants to easily purchase insurance when they need it, with a tap. Slice’s first product launched on the platform will be a proprietary pay-per-use policy for Uber and Lyft drivers that covers the driver from the time they turn on the rideshare app until they turn it off. Slice is the only company to offer on-demand economy participants this simple, cost-effective, and transparent protection.
The Slice founders are technology veterans and have provided innovative solutions to many of the largest insurance companies in the world–including AIG, ACE, AXA, Progressive, and Zurich/Farmers. Slice has assembled a unique combination of insurance experts, technologists, data scientists, and designers to reimagine insurance for the new economy.
“Insurance today is anything but transparent and it is hard to get the coverage you need when you need it,” says Tim Attia, CEO and co-founder of Slice. “The on-demand platforms have changed the game. Insurance must be truly frictionless and as seamless as transactions on these platforms.”
Slice is headquartered in New York City and is currently licensed to conduct business in CA, CT, IA, IL, PA, TX, and WA.