Duuo has launched two new on-demand products that were built on Slice Labs’ Insurance Cloud Services (ICS) platform.
The two new on-demand insurance offerings are Event Insurance and Rent-my-Stuff Insurance. The latter made its debut as a pilot insurance program for Traveling Munchkin, a Canadian rental platform that allows users to lease and/or rent out baby paraphernalia.
Event Insurance offers coverage to protect event hosts and can be purchased within minutes. Prices start as low as $6 an event, with up to $5 million in event liability – which covers bodily injury and property damage. Liquor liability coverage is also optionally available for non-sporting events.
Meanwhile, Rent-my-Stuff Insurance reduces the risk of renting out personal belongings on peer-to-peer platforms. The coverage makes such P2P transactions easier by removing reliance on the renter to secure insurance.
“Slice ICS enables Duuo to reimagine Canadian insurance by meeting the emerging expectations of consumers and businesses for flexible, affordable insurance solutions,” said Duuo managing director Robin Shufelt in a statement.
Shufelt also mentioned Duuo’s successful first product – an on-demand insurance coverage for homesharing hosts – and how it was very well-received across Canada; she hopes that the two new offerings will be similarly successful and further fuel the company’s expansion into other sharing and gig economy segments.
“The continued expansion of the sharing economy in Canada and around the world has made on-demand technologies, like ICS, a key asset for transforming customer experiences in new and well-established peer-to-peer markets,” remarked Slice Labs CEO Tim Attia, who also said that “old world” insurance models cannot keep up with the sharing/gig economy segments.
“Duuo is a pioneer in Canada in reinventing insurance and we look forward to future on-demand insurance products that they invent on ICS,” Attia stated.
Slice’s ICS allows Duuo to quickly design new on-demand insurance products, filling in the gaps of legacy insurance models.
