Slice Labs, an American startup insurtech company, has partnered with global insurance organization Munich Re to launch its on-demand per-use insurance product.

Under an ongoing rollout program of products and territories, Slice will create the technology platform to deliver the unique products directly to the consumer, besides handling service and processing of claims.

The Slice platform will include automated underwriting rules agreed upon by Munich Re. The two companies are currently working together to implement Slice’s first product in the US.

Slice CEO Tim Attia said: "Not only is Munich Re’s A+ rating impressive, its progressive, digital strategy in the insurtech space is extremely appealing, and fits well with our goals and vision.

“As we launch and expand we will rely on Munich Re’s global expertise to support our expansion,”  he added.

Munich Re Digital Partners chief executive Andrew Rear said: “Digital Partners is a new Munich Re global venture designed to partner with disruptors who are changing the way insurance is experienced by customers. We are looking forward to helping Slice reimagine and redesign insurance to support the on-demand economy.”