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As the world moves towards sustainability and green energy, batteries are becoming increasingly important for energy storage and electric vehicles (EVs). However, with this emerging technology comes the need for insurance and warranties to protect investments and ensure their longevity. That’s where Altelium comes in – offering a SaaS platform that facilitates insurance for batteries driven by real-time, AI-powered data analytics.
What is Altelium?
Altelium is an insurtech company based in London, England, that provides warranties, insurance, and data analytics for Battery Energy Storage System (BESS), Battery Cell, and EV OEMs, integrators, operators, and fleet owners. Our platform helps clients overcome barriers and provides valuable information on battery condition, elevated fire risk, and insights for the development of future batteries.
The Challenge of Battery Insurance
The use of batteries in various applications presents unique challenges to insurance providers. The potential risk of fire, explosions, or other accidents can lead to expensive claims and lower the confidence of owners and operators. Traditional insurance for batteries, like other emerging technologies, is often prohibitively expensive due to a lack of data and experience.
However, with Altelium’s AI-powered data analytics, we can provide real-time insights into the performance and condition of batteries, reducing risk and costs. Our platform provides detailed information on battery degradation and aging, predictive maintenance, fault diagnostics, and more. Our data analytics engine is powered by machine learning algorithms, which are continually refined through our partnerships with leading academic and industrial experts.
How Altelium Works
Altelium’s platform collects data from battery management systems and uses its AI engine to provide valuable insights into the conditions and health of a battery. Through our platform, clients receive detailed notifications and status updates, as well as analysis on a variety of factors that impact battery performance. Our technology allows us to provide warranties and insurance at a much lower cost than traditional providers, while also providing more comprehensive coverage.
The Benefits of Altelium
By working with Altelium, our clients can have greater confidence in their investment and reduced cost of ownership. Our system can pinpoint faults and identify potential hazards, reducing the risk of accidents and downtime. Additionally, our AI-powered data analytics engine creates a comprehensive picture of battery health and performance, providing valuable insights to drive continuous improvement in battery technology.
Altelium’s SaaS platform is enabling a transition from fossil fuels to green energy by providing crucial insurance, warranties, and data analytics for batteries. By identifying issues before they become costly problems, our clients can operate with greater confidence and reliability. Our AI-powered platform provides an invaluable toolset for BESS, EV, and battery cell manufacturers, as well as fleet owners and operators. With Altelium, there’s no need to compromise between affordability and protection – we offer affordable insurance solutions that don’t compromise on coverage.
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