Slipcase.com (formerly My Slipcase) announced that it has received nearly £1 million ($1.524 million) in technology investment from putitout, a UK software provider. Slipcase was founded in 2012 to create a “central news and thought leadership distribution platform for the global commercial re/insurance industry.” Its subscriber base “now spans 72 countries with particular growth in the U.S, Bermuda, Singapore and wider Europe,” said the announcement. It is continuing to grow its user base, which is exclusively for re/insurance professionals.
Putitout develops “web platforms and apps for Virgin media, Boeing and the BBC,” the announcement said. It will “focus on a re-architect and design for the slipcase web platform and will develop stand-alone apps for Apple & Android devices by the end of the year.”
The announcement also pointed out that, “a recent report has found that 62 percent of insurance executives believe the unique capabilities of mobile technology have the potential to change the insurance business, and that 2015 is the year to do it.”
A number of re/insurance industry executives have been vocal champions of external investment into the industry and have welcomed the news. Among them Steve Hearn, Chairman of LMG and Deputy CEO of Willis Group.
He commented: “Technology plays such an important role in our market and increasingly so as we modernize our processes and become more efficient. I’m very pleased to see external technology providers investing in our sector in a way that can support innovation and improve the way we communicate, share expertise and consequently provide even better service for our clients.”
The bulletin said the new Slipcase software investment would involve the following:
– An upgraded desktop site, refined for optimized user experience and maximum impact for client pages.
– A dedicated & state of the art app for Apple & Android devices, enabling user access at all times.
– Back end support & continuous development – ensuring the continuous improvement of the product.
Putitout’s CEO Charlie Cadbury said: “We have been interested in the (re)insurance industry for a number of years as an exciting and progressive environment for technological advancement. Slipcase has stood out for us as a platform to satisfy a growing opportunity to deliver excellent expert content to industry professionals.”
Alex Hearn, Founder and Director of Slipcase.com added: “The initial concept has evolved into a widely used and central content platform for the commercial & specialty areas of the global (re)insurance industry and we recognize the need to be more mobile.
“We now host pages for many of the leading organizations and publications in the industry, and by enabling them to distribute their latest news and thought leadership content directly to relevant communities inside the industry, Slipcase has proven itself as an invaluable marketing resource. Upgrading our platform and adding fully mobile capabilities will enable us to continue to evolve and progress, offering users and client pages an excellent service.”
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