In Canada, he Co-operators, in partnership with Slice have launched a new digital insurance product called Duo, an on-demand pay-per-use homeshare insurance product using SliceLabs Insurance Cloud Services (ICS) platform.
The launch comes following The Co-operators announced its intention to launch a new digital insurance arm in relationship with Slice. The product is for hosts using homesharing platforms like Airbnb, HomeAway and VRBO and costs $8 CAD per night, providing coverage for the full replacement cost of a home and it’s contents, plus an additional 15 coverages specific to homesharing including infestation, liquor liability, vandalism, loss of income etc. The product provides a simple and fast application process, AI-powered claims processing, and comprehensive cybersecurity protection of homeshare host and insurer information.
Rob Wesseling, President and CEO of The Co-operators Group Limited. Has said of this partnership: “This is the power of Slice ICS, as even a year ago this type of innovation was not in our traditional insurance product roadmap. We now have the flexibility and speed to solve new insurance problems facing Canadians without worrying about disappointing our customers due to yesterday’s slower insurance product development times.”