AXIS partners with Slice Labs to expand home based business protection
AXIS Insurance has entered a partnership with Slice Labs, an insurtech firm, that will see Slice Labs distribute its home based business insurance on its on-demand insurance platform.
Home-based businesses comprise more than 50 percent of all small businesses in the US, according to the insurers. Traditional homeowners’ insurance policies are not designed to cover commercial claims, leaving home-based business owners exposed.
AXIS home based business insurance is designed to fill that gap by covering common small-business risks like general liability, professional liability, property, cyber and crime.
The partnership allows AXIS to build its own unique offering on the Slice Insurance Cloud Services platform. The goal is to distribute the product through an omni-channel distribution model that includes MGAs, retail agencies, platforms and other digital distribution channels, it said.
Jill Bryant, head of small specialty commercial at AXIS, highlighted Slice Labs’ omni-channel distribution capabilities and customer-first design approach. “Today’s customer expects the insurance buying process to be as streamlined as purchasing other online products, and Slice’s innovation provides customers with that experience,” she said.
Slice chief executive and co-founder, Tim Attia, said his platform offers customers a digital experience and a simplified customer journey with on-demand protection. “Now, more than ever, protecting small businesses with comprehensive insurance is crucial,” he added.