Tags: Slice News

Managing Director of insurance-focused venture fund, XL Innovate, brings insurance expertise and regulatory knowledge

NEW YORK -- (BUSINESS WIRE) -- Slice Labs Inc., an insurtech startup set to launch the world’s first on-demand insurance platform to support the on-demand economy, today announced that Tom Hutton, Managing Partner of XL Innovate, has joined Slice’s board of directors. 

“Tom’s experience is unparalleled in the world of insurance and analytics, as well as fintech startups. He provides the most strategic mind in the industry; key to scaling our new insurance products,” said Tim Attia, CEO at Slice. 

Prior to establishing XL Innovate in 2015, Tom held several leadership roles in the financial and technology industries. He was CEO at Risk Management Solutions and White Mountains Re. He has also directed multiple private and public insurance and reinsurance companies including Safeco, Montpelier Re, and New Energy Risk. He has served on the XL Group Board of Directors, a $10 billion global insurance company, and currently serves on the board of SoFi, a modern finance company taking an unprecedented approach to lending and wealth management. 

“XL Innovate invests in high-value opportunities for assessing and pricing risk, particularly those addressing emerging trends in technology. Slice does just that. There is a very real need to provide fair and transparent insurance specifically created and priced for the new on-demand workforce,” said Hutton. “I have great respect for what Slice is building, and am honored to be joining their board.”

Tom Hutton will be joining the current Slice co-founders and Frances Kang of Horizons Ventures, who is also on the boards of Friendsurance and Blockstream.

Slice is backed by Horizons Ventures and XL Innovate, and is headquartered in New York City. Slice is currently licensed to conduct business in CA, CT, IA, IL, NY, PA, TX, and WA with licensing in process for all other U.S. states.

About Slice: 

Slice Labs Inc. is a startup insurtech company that provides an on-demand, pay-per-use insurance platform for the on-demand economy that is cost-effective, easy to acquire with a tap, and provides superior coverage.  Slice is reimagining insurance through design, data, and technology. To stay up to date with Slice, visit http://www.slice.is and follow @SliceLabs on Twitter.

About XL Innovate: 

XL Innovate is a venture capital fund focused on investing in companies that address the world's most complex risks with new technologies and products for the insurance industry. XL Innovate provides companies with equity capital, unparalleled experience in building new ventures in this specific space, and access to XL Catlin's global insurance expertise and underwriting. To learn more, visit www.xlinnovate.com.

About XL Group plc: 

XL Group plc (NYSE:XL), through its subsidiaries and under the XL Catlin brand, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. Clients look to XL Catlin for answers to their most complex risks and to help move their world forward. To learn more, visit www.xlcatlin.com.

About Horizons Ventures:

The private investment arm of Mr. Li Ka-Shing, is a leading investor in some of the world’s most innovative companies and disruptive technologies including Facebook, Waze, Spotify, Siri, DeepMind, Friendsurance, and Blockstream. To learn more, visit www.horizonsventures.com.