It seems like a new company pops up in the on-demand marketplace everyday, offering services for just about anything you can think of. Traditional insurers are struggling to meet the changing expectations and needs within the on-demand space and as a result the perfect opportunity to create new technology driven insurance products has emerged. Since we are the new kids on the (insurance) block, we’d like to introduce ourselves with the 3 W’s (who, what, why) of Slice.Who We Are
Slice is a startup insurtech company providing on-demand, pay-per-use insurance for the on-demand economy that is smart, simple, cost-effective, and can be purchased with a tap. To put it simply, picture a pizza then think insurance for a slice of time.
Founded in October 2015 and headquartered in New York City, Slice is the brainchild of long-time colleagues Tim Attia, Stuart Baserman, and Ernest Hursh who have worked in technology and distribution for 20 years with some of the largest global insurance carriers. The Slice founders’ goal is to provide the kind of insurance experience that they want for themselves; easy, transparent, frictionless, intuitive, smart and cost-effective. We want to improve the insurance process and the vastly underserved on-demand economy is a good place to start!
What We Do
Slice is founded on the principle that technology should drive the insurance transaction and insurance should be sold on a per-use (on-demand) basis. Drivers, Hosts, Servicers should be able to buy insurance the same way they earn their income; per ride, per stay, or per service provided.
At Slice, we believe that in order to provide the ultimate in customer service the buying experience has to be frictionless - as easy as ordering an Uber ride or one click buying on Amazon. To make this possible we have built the Slice technology platform, which enables the distribution of new per-use insurance products that are specifically created and priced for the on-demand workforce, thereby bridging the gap between traditional personal and commercial insurance. And through the use of the Slice app, Drivers, Hosts, and Servicers are able to purchase frictionless per-use insurance products at the point of transaction, instantly. Additionally, all transactions occur in a data rich environment, allowing Slice to perform automated underwriting and rating in real-time.
Now we’re not here to scare you, but if you are currently part of the on-demand workforce, you are most likely not fully or properly covered the way you need to be. Most on-demand platform providers offer some sort of coverage for participants, but those policies come with a lot of complications, an example being that your name is not listed on any policy, which means you have no policy rights. And your personal policies have restrictions and exclusions when it comes to using your home, car or tools for business purposes, or providing personal services.
But fear not! Slice is re-imagining insurance for the on-demand world using design, technology, and data. You can purchase the proper insurance for all of your needs, when you need it, in real-time. And you only pay for the insurance while you need it!