Slice Launches Its On-Demand Digital Insurer-as-a-Service
Staff Writer | January 25, 2018
Slice Labs Inc., a technology company offering cloud-based on-demand insurance, announced today the availability of Insurance Cloud Services (ICS), a cloud hosted, end-to-end, digital-first platform designed and built to drive experimentation and deployment.
Two years ago, Slice set out to completely reimagine insurance by creating on-demand insurance for the on-demand economy. Today, the company takes the next step in their evolution by announcing ICS, allowing carriers to quickly make the leap to being a digital insurer at a radically lower expense.
Any insurer that wants to become digital, while providing the next level in customer engagement and on-demand products, can quickly and easily deploy fully digital insurance products with minimum risk and expense.
ICS supports rapid introduction, evaluation, and adoption of new products, technologies, and business models. It enables insurers to achieve:
● Faster time to market;
● Quicker and lower cost to deploy new products
● A platform on which to experiment
● On-demand monthly subscription flexibility and scalability (scale in a cost-effective manner)
● Dramatic reductions in operating expenses
The Slice Insurance Cloud Services platform is fully embeddable via API and includes pricing, rating, licensing, real-time and automated underwriting, servicing, and capacity. Insurers can easily integrate ICS to quickly deploy and test insurance products that perform vastly better, offer deeper customer engagement, and present a wider array of options for customers.
“Our vision was to build a digital insurer-as-a-service platform that performs significantly better in terms of speed and cost for both deployment, and, most importantly, the cost and expense of ongoing operations,” said Tim Attia, CEO of Slice. “In the end, it’s all about customer experience, so we developed a platform that exponentially increases insurers speed to market, is infinitely scalable, and is signal based so insurers can synchronize their product offerings with their customers’ behaviors,” added Tim.
ICS is designed to deliver on multiple product lines, across insurance business functions, and is architected for flexibility, configurability, and usability. ICS is currently fully operational in the US marketplace and is also fully localized (multi-currency and multi-lingual) for the UK. Slice is licensed in both standard (personal, commercial, and A&H) and surplus lines in all 50 states.
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