Predictive battery analytics provider TWAICE is so confident in the accuracy of its data, it’s willing to provide insurance. The company’s contractual guarantee is backed by Great Lakes Insurances, a subsidiary of reinsurance giant Munich Re.
TWAICE provides predictive analytics software for companies working with batteries, addressing key concerns such as health, warranty and safety. TWAICE’s scalable analytics platform combines expert battery knowledge and artificial intelligence, and is designed to generate actionable insights at every step of the battery lifecycle.
Under the new guarantee, should the analytics outcome ever be beyond the guaranteed accuracy, the customer will be indemnified eight times the amount paid for the analytics. The underlying battery condition can be determined with a clearly defined approach, and Munich Re conducted a thorough evaluation of the analytics.
“The accuracy promise of TWAICE is the first of its kind in the battery analytics software space” said Dr. Stephan Rohr, founder and Co-CEO at TWAICE. “The insurance and due diligence by Munich Re should give manufacturers and operators of electric vehicles and energy storage the confidence to accelerate the development and deployment of batteries with the TWAICE platform.”