Slice Labs

Slice is a cloud-based insurance platform creating digital, end-to-end white labelled and co-branded insurance products. It works with insurers, MGAs and tech firsts to build and launch products, with a focus on protecting small businesses. Its products include on-demand business insurance for SMBs such as contractors general liability, workers compensation and a professional package. It also offers a variety of next-gen mobility solutions.

Its partners include AXA XL, Sompo and Munich Re.

In January 2018, Slice announced a partnership with Legal & General to offer homeshare insurance in the UK. Legal & General will use Slice Labs’ Insurance Cloud Services platform to roll out products to their customers. The businesses are in the process of utilising big data, AI and machine learning to develop the offering, which will be available on both web and mobile applications.

Later, in August, Slice reinforced its insurance cloud focus with the hiring of industry veteran, Philippe Lafreniere as Chief Growth Officer. Lafreniere holds over 25 years of global insurance technology experience, and will be turning his talents to establishing worthwhile relationships with companies committed to the digital revolution and serving the on-demand economy.

Also in 2018, Slice partnered with AXA XL to launch a cyber insurance product for small and medium-sized businesses on Slice Insurance Cloud Services (ICS) platform. The following year, Coronet, the security-as-a-service company, was announced as one of its clients.

In August 2019 Slice announced its proof-of-value contract with Sompo Holdings Asia. Through the partnership, Sompo licenses the Slice Insurance Cloud Services platform to test and deploy digital, on-demand insurance.

In January 2020, Slice Labs announced it had launched four new AI-powered Slice Mind services to help insurers proactively protect their customers from risk. The products include a data prediction tool that classifies client business activity to help evaluate potential risk, a cyber risk modelling service, geographic scoring and claims fraud prevention tools. The Slice Mind services can be used as a foundation for Slice's on demand products.

During the Covid-19 pandemic, Slice Labs launched a new product to help insurers create new products whilst they work from home. Slice from Home enables teams to take part in virtual hackathons, and only requires an internet connection to connect to Slice Labs' systems. The company also was forced to let go of 28 members of staff (around a third of its workforce) as well as 13 of its co-op students.

To date, Slice has received primary investment from XL Innovate, Munich Re/HSB Ventures and Sompo Japan Nipponkoa Insurance. It has previously taken part in Plug and Play’s Insurance Innovation Platform.