LONDON--(BUSINESS WIRE)--Legal & General, the FTSE 100 financial services group and leading home insurance provider, has today announced a new technology partnership with Slice Labs Inc with the aim to offer a new on-demand homeshare insurance proposition for customers.
The last few years has seen an increase in the popularity of on-demand insurance which allows customers to use a mobile app to purchase insurance to protect their personal belongings, car, or home when ‘at risk’.
On-demand insurance offers customers flexibility of cover that is easy and convenient to buy and paying only for what they need when they need it.
The partnership with Slice Labs Inc is another step in Legal & General’s commitment to invest in new technology and intend to use Slice Labs Insurance Cloud Services™ (ICS) platform to roll out on-demand homeshare insurance and other products to their customers. Founded in October 2015 Slice Labs provides tailored insurance offerings for home sharing costs.
The two companies are, working together on the development of web and mobile applications, as well as using big data, AI, and machine learning to develop the homeshare product.
Cheryl Agius, CEO of Legal & General’s Insurance division said, “Our new partnership with Slice will allow us to use the latest technology that is fundamentally changing the way people buy insurance. Customers who share their homes such as through Airbnb want to buy insurance quickly and easily and when they need it. This insurance proposition is part of our strategy to continue to transform insurance with data and technology led solutions that enhance customers’ experience.”
Tim Attia, CEO of Slice Labs said, “We’re honoured to be working with one of the UK’s largest insurance groups, as they leverage our ICS platform. The UK homeshare market is in desperate need of on-demand insurance so we’re proud to work with L&G to bring it to fruition. We view this initial project as a gateway to the development of other on-demand and more traditional insurance products”.
NOTES TO EDITORS
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ABOUT LEGAL & GENERAL
The Legal & General Group, established in 1836, is one of the UK’s leading financial services companies. As at 30 June 2017, the total value of assets across the group was £951.1 billion, including derivative assets. We also had over 9.5 million customers in the UK for our life assurance, pensions, investments and general insurance plans.
ABOUT SLICE
Slice Labs Inc. is a startup technology company offering a cloud-based, on-demand, pay-per-use insurance platform used to quickly and easily deploy new insurance products that perform vastly better, offer deeper customer engagement, and present a wider array of options for customers. Slice is reimagining insurance through design, data, and technology. To stay up to date with Slice, visit http://www.slice.is and follow @SliceLabs on Twitter.