Country: USAslice
Year: 2015

Concept

  • Developed as a response to a rise in sharing economy companies (Uber, Airbnb, Blablacar, etc.), Slice offers on-demand insurance for the freelancers of sharing economy startups
  • Insurance is available on a transactional basis, i.e. for an Uber driver, coverage would start the moment they enter the car until the moment they leave it, thus only paying for insurance for the time they’re using their vehicle
  • Currently, some sharing economy companies offer varying insurance coverage but often the policy mentions the company as the policyholder and not the Uber driver or Airbnb property owner. This can cause legal complications in some US states for claims processing
  • Slice avoids these complications by offering policies in the user’s name and on a needs-basis
  • Insurer Munich Re has partnered with Slice to offer its insurance products through the platform with Slice handling claims processing and service
  • Based in New York City, Slice has licences for the following states: California, Connecticut, Illinois, Iowa, Pennsylvania, Texas and Washington
  • As of September 2016, Slice Labs has raised $3.9m

Consumer Benefits

  • Tailor-made: insurance is needs-based and adapted to personal circumstances
  • Cost-effective: compared to traditional, full-time, comprehensive insurance policies

How To Use

  • Slice is currently under development and will be rolled out by the end of 2016. Interested users can sign up on the site for early access

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