Slice Labs Inc., an insurtech startup set to launch the world's first on-demand insurance platform to support the on-demand economy, has partnered with Munich Re, a global AM Best A+ rated insurance organization. The partnership creates powerful market advantage as Slice prepares to launch its on-demand per-use insurance product.
Slice and Munich Re have agreed to an ongoing rollout program of products and territories with Slice creating the technology platform to deliver these unique products directly to the consumer. Service and processing of claims will also be handled by Slice. 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 United States.
"We are thrilled and honored to have partnered with Munich Re. 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," said Tim Attia, CEO at Slice. "As we launch and expand we will rely on Munich Re's global expertise to support our expansion," added Tim.
Andrew Rear, Chief Executive of Digital Partners at Munich Re stated, "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."