With technology continuing to improve, and on-demand economies becoming more popular, there has been a growing need for an insurance solution to match the needs of the people in these economies. Slice is one such company. Their platform provides insurance when you need it, and only then.
Their first product is releasing today and it is focused on homesharing platforms like AirBnB and HomeAway. The service is in a closed beta phase of sorts and is invite only at present time. Currently, Slice is available to homesharing hosts in Des Moines and Iowa City. While starting in these cities, it will continue to roll out in additional cities across the US.
Their Homeshare platform will offer up to $2 million in commercial liability coverage with no limit on the number of properties that can be covered. The platform will act as your primary insurer with no requirements to report claims to another insurer. By acting as the primary insurer, Slice is insuring that their level of service will be met when dealing with any claims.
“Many people working in the on-demand economy do not realize their risk and the fact that they’re simply not covered through conventional means,” said Ernest Hursh, Slice co-founder and Head of Sales and Marketing. “It is our mission to mitigate that risk and to provide the appropriate trust, safety and protection for these folks,” Ernest added.
Slice is currently only available for their Homesharing insurance, but more updates will be made available soon for other services, such as providing insurance for rideshare platforms like Uber.