Slice Labs

insurtechon-demand/sharing

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 19/01/2021

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About

On-demand insurance for the on-demand world. #insurtech #ondemand #startup

MEDICI Analysis

Slice Labs is an online platform that provides pay-per-use insurance for the on-demand economy. Users can avail these on-demand insurance products from their smartphone, and are directly billed to the user’s credit card. It also offers a cloud hosted, end-to-end, digital-first platform that enable insurance companies to deploy insurance products for the new economy, thereby offering a deeper customer engagement.

Focus

PRODUCTS & SERVICES

Slice product offerings include: Home share: Offers insurance for homeshare hosts like on platforms like Airbnb and Homeaway) Rideshare: Enable users to insure their car and themselves and their profits against liability, uninsured motorist, personal injury protection (PIP), vehicle damage, loss of use and loss of income option . The Slice platform: Helps insurance carriers with various functions like pricing, ratings, licensing, underwriting, servicing, and capacity.

REVENUE MODEL

The company follows usage based revenue model. The cost of Slice’s policy is based on a combination of mileage and time or rate per mile.

MAIN CLIENTS

On demand startups like Uber

Lyft

EXISTING PARTNERSHIPS

Munich Re

AIG

ACE

AXA

Progressive

COMMENT

The company aims to offer new kinds of insurance products designed for on-demand workers. These products will be available on a transactional basis so a ridesharing driver should be covered from the moment they start driving or get into the car, but they’re only paying for coverage during the time that they’re working.

Traction

VALUATION / MARKET CAP:

$26 M in 2016

COMPANY TYPE:

For Profit

TRACTION COMMENT:

Slice is removing the friction from the sharing economy by using background data to price out commercial and personal insurance, sometimes by the minute.

company provided insights
Web Traffic

Web Traffic

MONTHLY VISITS

18,417

AVERAGE VISITS (6 MONTHS)

9,672.3

MONTHLY VISITS GROWTH

498.59%

VISIT DURATION

34

VISIT DURATION GROWTH

-83.72%

PAGE VIEWS VISIT

1.51

PAGE VIEWS VISIT GROWTH

-61.27%

BOUNCE RATE

88.93%

BOUNCE RATE GROWTH

50.55%

GLOBAL TRAFFIC RANK

1,103,350

MONTHLY RANK CHANGE

-2,550,654

MONTHLY RANK GROWTH

-69.8%

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