XL leads start-up’s $11.6m funding round

Make text smaller Make text larger

  • XL Catlin: backing on-demand insurance app start-up

    XL Catlin: backing on-demand insurance app start-up

XL Catlin’s investor arm is the lead backer of an $11.6 million round of funding for insurtech start-up Slice Lab.

XL Innovate is joining Munich Re/HSB Ventures, Sompo, Horizons Ventures, Plug and Play and Tusk Ventures in the backing the young company, which has developed an on-demand, pay-per-use insurance platform.

Slice’s first on-demand insurance product was designed for homeshare hosts using platforms such as Airbnb, HomeAway, OneFineStay and FlipKey. The on-demand commercial insurance policy can be purchased via app or online and it covers the time period hosts rent their home.

Slice said it now provides homeshare coverage in 26 US states, reaching 70 per cent of the US population and 82 per cent of the homeshare market. Plans call for having the product available in all 50 states by the end of 2017.

In March, Slice said it had completed a pay-per-use rideshare insurance app, and launched a test with a “select set” of rideshare drivers.

The policy protects rideshare drivers while covering the liability connected to the commercial activity of vehicle. It kicks in from the time the driver goes online and starts to work to the time he or she goes offline at the end of their shift. Slice expects the product will launch “soon”.

XL Innovate, a part of XL Catlin, which is based in Bermuda, was one of the companies to provide seed funding to Slice early in 2016.

You must be registered or signed-in to post comment or to vote.

Published Oct 9, 2017 at 12:41 pm (Updated Oct 9, 2017 at 12:41 pm)

XL leads start-up’s $11.6m funding round

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon

  • Take Our Poll

    • "What are your views on stop-and-search in today's Bermuda?"
    • Inconvenient but necessary
    • 69%
    • Wholly unproductive
    • 10%
    • Unfair targeting of young black males
    • 21%
    • Total Votes: 4697
    • Poll Archive

    Today's Obituaries

    eMoo Posts