Company: Slice Labs
Business Category: A hybrid of insurance practitioner and technology provider
Maturity Status: Startup (less than 3 years since product went into production)
Product or Service: Slice Mind
Area: Property & Casualty insurance
Slice entered the market with the first on-demand homeshare insurance product in the U.S. The product was built on what would later be released as the Slice Insurance Cloud Services (ICS) platform in January 2018. In just over a year, top global insurers including The Co-operators Group, AXA XL, Legal & General (UK), and Nationwide became ICS customers marking a major shift in the insurance industry towards leveraging cloud technology to serve the emerging on-demand economy.
Once Slice proved the ICS model, the company made the ICS platform available to technology companies and other service providers. As the need for carriers to effectively use data continues to grow, the company announced Slice Mind, a new business unit that makes use of AI/ML, data and behavioral science to create products and services that help companies with personalization, experimentation, simulations, predictions, risk modeling recommendations and decision-making.
What makes us an InsurTech:
After success with top global insurers launching homeshare and cyber insurance products, with rideshare insurance coming soon, through Slice ICS, the company just announced a new business unit – Slice Mind, which will help insurers predict risk using AI, machine learning, and behavioral science.
Major features & technology used:
AI, ML, and behavioral science are at the heart of the Slice Mind services.
By analyzing existing insurance customer data, Slice Mind helps insurers and companies to create customized on-demand insurance products incorporating advanced personalization, experimentation, simulations, predictions, risk modeling recommendations and decision-making.
About Slice Labs
Slice Labs Inc. is the insurance engine leading tomorrow’s cloud-based, on-demand digital services ecosystems for the new economy. Using AI, machine learning, and Ph.D. behavioral science expertise in the Slice Insurance Cloud Services (ICS) platform and Slice Mind capabilities, the company is enabling insurers, technology companies, and other service providers to build truly intelligent and intuitive pay-as-you-go digital insurance products protecting the insured anytime and anywhere. For more information, please visit https://slice.is.
Source: Slice Labs