Slice Labs, an insurtech offering on-demand pay-per-use insurance for homeowners, has announced Series A funding of $11.6 million led by XL Group’s venture capital arm XL Innovate.

The startup, launched in 2016, leverages data algorithms to sell short-term policies to Airbnb and Homeaway customers via its cloud-based platform. Slice’s software additionally helps automates claims and reduces the frequency of fraud cases.

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