istock-917493152_feelpic-2
iStock/FeelPic
28 March 2019Insurance

Munich Re, XL Catlin-backed insurtech Slice launches new AI-powered tool to predict risk

US-based insurtech platform Slice Labs has launched a new business unit, called Slice Mind, that combines artificial intelligence (AI), machine learning and behavioural psychology to predict insurance risk and make recommendations.

Slice Mind is said to be powered by an insight engine that will help companies with personalisation, experimentation, simulations, predictions, risk modelling, and product recommendations.

Slice is backed by Horizons Ventures, XL Innovate, Munich Re, and Sompo, among others, and is headquartered in New York City.

“A big part of Slice ICS is the data analytics, scoring and machine learning that drives our underwriting and claims. The feedback we’ve received from customers tells us there is an increasing need for carriers to effectively use data to predict risk," said Tim Attia, Slice co-founder and CEO.

He added: "We want to allow carriers to focus on developing new and innovative products, so we’re launching Slice Mind to help them make smart decisions and solve the industry’s seemingly impossible problems based on the data insights and predictive analytics the tools provide.”

Join us at Intelligent Automation in Insurance - April 26th 2018, London:  Book now.

More of today's news

HDI swoops for QBE talent to build Australian aviation unit

Could Boeing 737 Max fix mitigate insurance losses?

Fannie Mae completes $11.7bn multifamily mortgage risk transaction

Don't miss our insurtech email newsletter - sign up today


More on this story

Insurance
4 February 2021   Start-up claims the new solution will drastically reduce claims management costs for insurers.
Insurance
30 January 2020   They include a comprehensive cyber risk service.
Insurance
17 January 2020   The new pay-per-use travel product provides on-demand trip protection services.

More on this story

Insurance
4 February 2021   Start-up claims the new solution will drastically reduce claims management costs for insurers.
Insurance
30 January 2020   They include a comprehensive cyber risk service.
Insurance
17 January 2020   The new pay-per-use travel product provides on-demand trip protection services.

Intelligent Insurer
Newton Media Ltd
Kingfisher House
21-23 Elmfield Road
BR1 1LT
United Kingdom