Slice Labs, an on-demand insurance cloud platform provider, has said that its Insurance Cloud Services (ICS) are now available in the UK and EU.
The first customer to use ICS in the UK is Legal & General with the launch of on-demand, pay-per-use homeshare cover. Insurance products available through the Slice ICS platform offer customers a rich, engaging, fully digital experience that is quick, and flexible.
True to the company’s stated intention of extending global availability of ICS following a $20m Extended Series A, UK and EU insurers are now able to subscribe to ICS and launch on-demand insurance products customised to locale, language, and demographics.
Legal & General’s Insurance division CEO Cheryl Agius said: “Legal & General is delighted to be working with Slice on the new on-demand product, a growing business in the US and now in the UK market.”
DigitalScouting CEO Robin Kiera said: “Digital transformation leads to internationalisation. Not only of insurers but also of successful insurtech start-ups expanding across the Atlantic. In Europe we are seeing increased use cases of collaboration and co-creation between insurtech start-ups and incumbents. We see Slice as an enabler expanding in new markets.”
Since the launch of the ICS platform in January 2018, four global insurance carriers have partnered with Slice to experiment with, test and deploy their own on-demand insurance products, both in the homeshare and cyber insurance market.
Slice Labs CEO Tim Attia said: “After successfully proving the value for insurers to create digital insurance models in North America, we are excited at what ICS can deliver for UK and EU carriers.
“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. We are bringing the power of these technologies to European insurers in order to deliver more sustainable value to the insured in any demographic and market.”
Source: Company Press Release