Munich Re backs start-up launching on-demand insurance platform

Munich Re/HSB Ventures, the corporate venture capital arm of Munich Re, has made an investment in an insurtech start-up company set to launch the first on-demand insurance platform, to support the on-demand economy.

Slice Labs (Slice), incorporated in October 2015, secured initial seed funding from Horizons Ventures and XL Innovate. It has now received additional funding from Munich Re.

Munich Re’s Digital Partners group is working with Slice to provide the backing for Slice’s on-demand insurance products globally.

“This investment and key partnership gives us additional resources to expand quickly and strategically into the market and to deliver on our vision globally,” said Slice CEO, Tim Attia.

“We’re honored to work with a company with such a strong track record of partnering to craft inventive insurance solutions that cover emerging risks posed by technological change.”

Jacqueline Krause, managing director of Munich Re/HSB Ventures, stated: “At Munich Re, our vision is to focus on evolving technologies and new insurance solutions for the future. In response to the growing risk on-demand workers face in the sharing economy, Slice is providing novel insurance solutions. We are proud to enable Slice to offer these solutions in its first market and quickly expand them to markets around the world.”