Partnership advances battery EV protection and products

The partnership enables Assurant to leverage Altelium’s artificial intelligence (AI)–driven battery data and electric vehicle (EV) insights to create an array of innovative electric vehicle solutions, including vehicle service contracts that protect EV owners from costly battery repair and replacement. Assurant will also use this technology to provide enhanced EV awareness to dealers and EV insights to EV owners.

While this partnership represents the foundation of a wide range of potential EV and EV-related solutions for auto dealers and EV owners, Assurant is already deploying Altelium’s technology in Assurant EV One Protection, Assurant’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. 

Altelium strengthens Assurant’s ability to offer products like Assurant EV One Protection by combining Assurant’s data – from actuarial and other sources – with information and EV insights from Altelium. Importantly, these will provide a seamless customer experience to both dealers and EV drivers.

The platform produces dynamic reporting and insights for dealers and EV owners, with customer-centric service that enhances the experience and benefits of driving an EV or plug-in hybrid electric vehicle (PHEV).

“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,” said Martin Jenns, EVP & President, Assurant Global Automotive. “Data modelling 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.”

“As innovators, we are delighted to grow our relationship with Assurant, known for their innovation in creating robust vehicle protection solutions,” said Ed Grimston, Co-Founder of Altelium. “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.”  

“This partnership also helps support the green transition by giving vehicle buyers the confidence to switch from ICE to EVs or PHEVs,” added Jenns. “It addresses two of Assurant’s key product sustainability goals – leveraging insights to accelerate the rollout of offerings that add customer value and have a positive impact on society and introducing products and services that support the acceleration and adoption of technology that helps minimise the carbon impact on the environment.”