Traditional insurance policies don’t work for the on-demand economy. Slice Labs has ambitious plans to change that as an insurance platform for on-demand workers, Cat Zakrzewski reports for VentureWire.
The startup wants to provide sensible policies starting with ride-sharing drivers and Airbnb property renters. The company closed $3.9 million in seed funding led by Horizons Ventures and XL Innovate. Slice founders Tim Attia, Stuart Baserman and Ernest Hursh have previously worked in the insurance industry. Mr. Attia said currently on-demand workers don’t understand what their insurance options are. Many in the gig economy do these jobs part time or on the side and don’t earn enough to justify buying an expensive annual insurance policy, Mr. Attia said.