NEW YORK--(BUSINESS WIRE)--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.”
About Munich Re:
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2015, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €3.1bn on premium income of over €50bn. It operates in all lines of insurance, with more than 43,000 employees throughout the world. With premium income of around €28bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Munich Re's primary insurance operations are concentrated in the ERGO Group. ERGO is one of the leading insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2015, ERGO posted premium income of €17.9bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re's global investments (excluding insurance-related investments) amounting to €215bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
Slice Labs Inc. is a startup insurtech company that provides an on-demand, pay-per-use insurance platform for the on-demand economy that is cost-effective, easy to acquire with a tap, and provides superior coverage. Slice is reimagining insurance through design, data, and technology. To stay up to date with Slice, visit http://www.slice.is and follow us on Twitter @SliceLabs.