Slice Labs Inc., an on-demand insurance cloud platform provider, announced on Wednesday it has entered in a proof-of-value contract with Sompo to bring on-demand insurance to Asia.
According to Slice, the new partnership brings on-demand insurance to the Asia Pacific region of Asia, the first of its kind. Sompo will reportedly license the Slice Insurance Cloud Services (ICS) platform to quickly deploy and test new digital insurance products.
“Compared to other, more traditional solutions, the Slice ICS platform allows insurers, like SOMPO, to leverage the flexibility, scalability, and security of ICS through a high-value subscription model.”
Speaking about the partnership, Tim Attia, CEO of Slice, added:
“The future of satisfying insurance customers in any country and product segment hinges upon the cooperation of insurers and insurtechs. Sompo is a strong example of how this can work as they have helped our cloud technology quickly scale into another global region and ICS is helping them reimagine insurance customer experiences.”