Assurant partners with Altelium

Assurant is partnering with Altelium, “the world’s first insurtech business that offers insurance for batteries driven by real-time, AI-powered data analytics.”

The partnership will allow Assurant to leverage Altelium’s AI-driven battery data and electric vehicle insights to create a variety of electric vehicle solutions, including vehicle service contracts. Assurant will also use this technology to provide enhanced EV awareness to dealers and EV insights to EV owners.

Assurant is already deploying Altelium’s technology in Assurant EV One Protection, the company’s “most comprehensive” electric vehicle service contract product to date. With Assurant EV One Protection, drivers of BEVs and PHEVs less than eight years old, and with fewer than 80,000 miles at the time of purchase are covered for extensive mechanical repair and replacement coverage, including the lithium-ion/traction battery and battery management system.

Last year, the London-based startup partnered with Tokio Marine Kiln to offer a data-driven battery energy storage system warranty program.

“Our work with Altelium allows us to bring clarity, transparency and a higher degree of confidence to the world of EVs, which will become increasingly important as more drivers embrace electric vehicles and more EVs are purchased as used vehicles. Data modeling enhanced with AI gives us the ability to underwrite batteries with confidence, and, with Altelium’s technology behind our products, we can offer a superior level of customer service and support.” – Martin Jenns, EVP & president, Assurant Global Automotive.

“As innovators, we are delighted to grow our relationship with Assurant, known for their innovation in creating robust vehicle protection solutions. Working together to apply AI-driven insights to Assurant’s EV protection solutions will help position them and their dealer customers for success, while customers drive away with more peace of mind.” – Ed Grimston, co-founder of Altelium.