Slice Labs Inc. said it is now making its Insurance Cloud Services (ICS) available in the United Kingdom and across the European Union. The ICS allows subscribing insurers to Iaunch on-demand insurance products customised to locale, language and demographics.
In September, Slice Labs said it raised an $20 million that it would use to expand its cloud services for on-demand insurance products globally.
Since the launch of the ICS platform in January 2018 in the U.S. and Canada, Slice says four global insurance carriers have partnered with its to test and deploy their own on-demand insurance products in the homeshare and cyber insurance markets.
AXA XL has used ICS to launch a cyber insurance policy for small and midsize businesses.
The first customer to use ICS in the UK is Legal & General with the launch of on-demand, pay-per-use homeshare cover.
“The customer appetite for on-demand, pay-as-you-go service models transcends borders due to the continual advancement of big data and AI technologies,” said Tim Attia, CEO of Slice Labs.
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