Slice Labs Raises $3.9M

What does Slice Labs do?

Slice Labs, is a insuretech starup. This company provides on demand insurance for the on demand economy. The company is re-imaging insurance through design, data and technology. The company considers you are a person and a business, and enables the users in paying for coverage when they are taking part in the on-demand world. It turns it on and off when you want it. The company also removed the tiring lengthy  application with queries which cannot be answered. It allows the participant to easily buy insurance when they need it, with a single clikc. The company first product launched on the platform will be a pay per use policy for Lyft and Uber drivers which covers the driver from the turn their app till they turn it off. This is the only insurance company which offers on-demand economy participants this cost-effective and simple and with protection that is transparent.

How much Slice Labs was funded?

Slice Labs raised $3.9M on March 29, 2016 from XL Innovate and Horizon Ventures.

What is next for Slice Labs?

The company plans to launch its first products this June. Though the company is based in New York City, the founders are still deciding where to offer coverage first. The company also hopes to work with the on-demand services to offer the company’s insurance through the service’s sign up process. Over time the company will use data for the improvement of its pricing and products, for example determining whether an UberX behave more like a person because it’s their car, or if they are going to behave more like a cab.

More about Slice Labs

The company was founded in October, 2015 by Stuart Baserman and Tim Attia. It has its headquarters in New York, New York.  It is currently licenced to conduct business in CT, CA, PA, IA, TX, IL and WA.