• FOUNDING YEAR: 2015
    LOCATION:
    United States
    REGION:
    New York
    Last Update:
    9 Sep, 2019

Description

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:
Viewable by subscribers only
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.

PEOPLE

FOUNDERS:
Ernest Hursh, Stuart Baserman, Tim Attia
Board Members and Advisors:
Frances Kang, Todd Finch
NUMBER OF EMPLOYEES:
11-50
INVESTORS:
XL Innovate, Horizons Ventures, Munich Re / HSB Ventures, SOMPO, Plug and Play, Tusk Ventures

TRACTION

VALUATION / MARKET CAP:
$26 MM in 2016
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.

MOMENTUM

FUNDED:
YES
TOTAL FUNDING:
$15.5 Millions
DATE OF LAST FUNDING:
Oct 2017
TOTAL FUNDING COMMENT:
The company is planning to use the fund to scale Slice’s on-demand offering for new products and jurisdictions, and to accelerate the deployment of its On-Demand Digital Insurance Platform via marquee partnerships(October 2017).
SEED & PRIOR FUNDING:
$3.9 Millions
SEED CLOSED ON:
Oct 2016
SEED PRIOR FUNDING COMMENT:
An undisclosed amount of seed fund was raised in October 2016.
FUNDING SERIES:
SERIES A
$11.6 Millions Closed: Oct 2017
LISTED:
NO

LATEST RESEARCH