Slice Insurance provides Excess and Surplus (E&S) insurance coverage for small to midsize commercial insureds across various industries nationwide. The company utilizes a digital-first platform powered by AI and ML to offer agents streamlined, real-time quoting and policy management capabilities. This technology enables fast, automated binding of complex commercial property and casualty products for businesses like contractors and commercial real estate owners.
Funding
$35.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
GSPAFounders
Product
Problem
Small businesses often face inefficiencies and complexities when obtaining insurance coverage, including lengthy quote processes and difficulty finding coverage for specific classes of business. Traditional insurance models struggle to provide on-demand, tailored solutions that meet the unique needs of diverse small businesses.
Solution
Slice Labs offers a cloud-based platform that leverages AI, machine learning, and behavioral science to provide on-demand insurance products for small businesses. The platform streamlines the insurance process, enabling quick quotes and policy binding in minutes. By partnering with MGAs and wholesalers, Slice Labs distributes white-labeled or co-branded small business insurance products, offering a seamless and automated online experience. The platform's technology addresses the challenges of obtaining insurance coverage for various small business types, including those in difficult-to-quote classes.
Target Audience
The primary target audience includes small businesses seeking efficient and tailored insurance solutions, as well as MGAs and wholesalers looking to distribute innovative insurance products.
Features
- AI and machine learning-driven platform for risk assessment and pricing
- On-demand insurance products, including Contractors General Liability and Workers’ Compensation
- Quote generation in 30 seconds and policy binding in under 5 minutes
- Friction-free online experience for agents and small business owners
- Unlimited and free Certificates of Insurance
- Coverage options for difficult-to-quote classes
- Optional coverages for Additional Insureds
- Incentive plans for distribution partners