Slice Labs Inc., maker of an on-demand insurance cloud platform, launched an innovation hub in Toronto designed to help it test new on-demand insurance products.
The company, which began as a seller of on-demand insurance for homeshare hosts, said its Slice Launch Studio will be a laboratory for the company and its technology partners. They’ll use the location to develop, experiment on, test and deploy new products that can be used on Slice’s Insurance Cloud Services platform.
Slice’s idea is that insurers and global technology companies can use the studio to collaborate on hackathons, which are gatherings where intense collaboration leads to new product development. The New York-based company said that this approach is crucial for getting products to market quickly. The company said it is working with insurers in the U.S., Canada, U.K. and SE Asia to launch new on-demand insurance products, using a minimum viable product methodology that allows for launch in under three months.
Slice will also host events at its Launch Studio year-round, bringing together thought leaders from across the globe to discuss and address emerging and increasing risks. The Co-Operators Group is the pilot partner for the Launch Studio, which recently debuted duuo, the name of both its new digital insurance business unit and of its on-demand homeshare insurance product, via Slice Insurance Cloud Services.
Co-Operators Group, a Canadian insurance cooperative, led a $20 million venture financing round for Slice in September.
The Slice Launch Studio is located on the 42nd floor of the Scotia Plaza (40 King St. West, Toronto) and is open from 9-5 p.m. ET Monday-Friday by appointment to protect the ICS user intellectual capital. Participants can make appointments at www.slice.is/launchstudio.
Source: Slice Labs