On-demand small business insurance options reach NC via online platform

NEW YORK — Slice Labs Inc., a technology company known for launching the first on-demand insurance platform, is set to expand its influence into North Carolina. In line with their mission to safeguard small businesses, they’ve extended their Excess & Surplus (E&S) specialty market small business insurance product to an additional nine states, bringing their total coverage to twelve.

Slice’s Contractors General Liability product is supported by Philadelphia Insurance (PHLY) and comes with an impressive AM Best A++ rating.

“Our goal is to protect small businesses and we are proud to offer such a high quality product that provides comprehensive protection for small businesses that traditionally have a difficult time getting quality coverage,” said Tim Attia, co-founder and CEO of Slice in their press release. “These 12 states cover a broad geographic area, where Contractors General Liability needs for hard to place classes are high.

The Contractors General Liability product can be purchased and processed within minutes through Slice’s fully automated digital platform. This feature underscores Slice’s differentiation: providing rapid, seamless online experiences while also covering hard-to-place classes. Their operations involve a trained agent concierge to guide agents through the process. Key to the process is an embedded data science component, Slice Mind, which aids in the classification of risk.

Slice seeks to fill the growing protection gap in small business insurance with General Liability and Worker’s Compensation coverage offerings. Their products cover more than 65 types of businesses without necessitating a deductible or self-insured retention.

Founded in 2015, the company recently announced its partnership with First Connect Insurance Services to extend its coverage via other independent agencies across the country. Attia stated that the company’s coverage expansion is expected to continue rapidly, moving to reach most of the country.

Read the full report online.

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