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XL Catlin to Build World's First On-Demand Cyber Insurance Solution with Slice ICS

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XL Catlin to provide U.S. SMBs with new digital insurance solution

Slice
Labs Inc.
, the first company in the U.S. to offer cloud-based
on-demand insurance, announced today that XL Catlin is creating the
world's first on-demand cyber insurance solution for U.S. small and
medium-sized business (SMBs) and built on the Slice
Insurance Cloud Services™ (ICS) platform
. XL Catlin is the third
large insurer to use ICS since Slice launched the platform in January of
2018.

"SMBs must contend with the same cyber issues as large corporates," said
John Coletti, XL Catlin's Chief Underwriting Officer of Cyber &
Technology in North America. "Unfortunately, they often do not have
dedicated IT teams and the same information security resources that
larger companies have. We've partnered with Slice to transform cyber
insurance – making it easy to buy and simple to understand for them –
with the ultimate goal of protecting SMBs from the potentially
devastating impact of a cyber-attack."

According to Greg Hendrick, president of XL Catlin's Property & Casualty
operations, "Slice's ICS platform gives us the speed to market,
scalability, and reliable on-demand experience that will empower our
clients to move faster and more confidently knowing digital assets are
protected by innovative technology, insurance, and claims processes."

The ICS platform enables XL Catlin to take a more holistic and advanced
approach to cyber protection. The new cyber solution will include
services designed to help clients best prepare for cyberattacks. The
subscription and usage-based cyber solution will be available on-demand
for SMBs. The product will use artificial intelligence to deliver
real-time alerts to customers and enable them to better manage their
risk postures.

"The new economy is not only on-demand but it is heavily dependent on
protecting technology assets due to the rapidly changing landscape of
cybersecurity threats," said Slice CEO Tim Attia. "Insurers are no
longer in a position where they need to suspend or delay an idea for
lack of technology or financial resource contracts. The beauty of the
ICS platform is that any insurer can create a new line of business
within three months of finalizing the vision for a new service."

"We are very excited to partner with Slice to deliver new digital
end-to-end products for our customers at XL Catlin," said Lauren Tennant
Pollock, Digital Distribution Lead and Partner with Accelerate, XL
Catlin's internal disruption and innovation team. "By being
forward-thinking and agile, our intent is to meet our customers where
they are and deliver cyber products and risk management services in a
differentiated way. With Slice, we will be able to design our SMB Cyber
product alongside of the customer, putting their needs and preferences
first, to ultimately deliver a product that is simple, transparent, and
of value to our clients."

The ICS platform delivers through a low-cost monthly subscription
without complex contracts or implementation costs.

About Slice:

Slice Labs positions the gig economy for opportunity, prosperity, and
sustainability with the first on-demand insurance product launched in
the United States. Slice Insurance Cloud Services (ICS) enables large
insurers to deliver new value to loyal consumers through direct
insurance or insurance agent models without the need to invest in the
infrastructure to deliver customized on-demand insurance products. Slice
on-demand insurance and ICS solutions are supported by advanced big data
and machine learning technologies along with Ph.D. behavioral science
expertise, and over 100 years of combined insurtech experience on the
Slice leadership team. Slice also operates in Canada, and the U.K. To
stay up to date with Slice, visit http://www.slice.is
and follow @SliceLabs
on Twitter.

About XL Catlin:

XL Catlin is the global brand used by XL Group Ltd (NYSE:XL) insurance
and reinsurance companies which provide property, casualty, professional
and specialty products to industrial, commercial and professional firms,
insurance companies and other enterprises throughout the world. Clients
look to XL Catlin for answers to their most complex risks and to help
move their world forward. To learn more, visit xlcatlin.com.

About XL Catlin Insurance Operations

XL Catlin insurance companies offer property, casualty, professional,
financial lines and specialty insurance products globally. Businesses
that are moving the world forward choose XL Catlin as their partner. To
learn more, visit xlcatlin.com.

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