Engineers and algorithms take the place of people for the digital insurers that use the Insurance Cloud Services platform available from Slice Labs Inc.
But even carriers that don’t currently use ICS can have access to some scores and predictions produced by algorithms to measure risk and prompt less risky behaviors, Slice announced in January 2020. Specifically, the InsurTech introduced four AI-powered Slice Mind services, enabling insurers “to more proactively and intelligently protect” businesses and consumers from risk by nudging people to buy appropriate coverages, and even helping them to mitigate damage from real-time events that may give rise to claims.