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The Co-operators launches digital brand, new product


September 20, 2018   by Jason Contant


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The Co-operators new digital insurance brand, duuo by co-operators, has launched its first product – on-demand, pay-per-use insurance for homesharing hosts.

Guelph, Ont.-based Co-operators launched the product Tuesday, two months after the insurer said it was partnering with New York City-headquartered Slice Labs to create the brand. Duuo is powered by Slice Insurance Cloud Services, using artificial intelligence for claims processing and cybersecurity protection of homeshare host and insurer information. Slice manages its cloud services technology development from their office in Ottawa.

The Co-operators’ president and CEO, Rob Wesseling, told Canadian Underwriter in July “there are a number of product ideas that we have on the list now.” Although he did not offer specifics, he reported there will be a “steady stream” of product launches. “The sky’s the limit in terms of P&C opportunities, life opportunities and health opportunities in the episodic and on-demand space.”

The product is available for homesharing hosts who rent their properties using popular platforms like Airbnb, HomeAway, VRBO and others. It covers:

  • Full replacement cost of the home, additional structures and all contents
  • Commercial liability for a limit of $2 million; and
  • Vandalism, infestation, liquor liability, loss of income, breakage of valuables, damage to electronics and theft.

At an average of $8 per night, the product is only purchased for the nights that guests are renting a property and is intended to cover additional risks hosts face by homesharing, which are typically not covered by standard home insurance.

It is being launched in Ontario, with British Columbia and Alberta next, followed by Saskatchewan, Manitoba, New Brunswick, Prince Edward Island, Nova Scotia and Newfoundland and Labrador. Lastly, coverage will be available in Quebec, Yukon, Northwest Territories and Nunavut.