Roadzen Partners with Simple Energy and a Leading Global Reinsurer to Provide AI-Driven Extended Warranty for Electric Two-Wheelers
Roadzen Inc. (NASDAQ: RDZN) has announced a strategic partnership with Simple Energy and a leading global reinsurer to provide AI-driven extended warranties for electric two-wheelers in India. Simple Energy, known for its flagship product Simple One, manufactures high-performance electric scooters at its facility in Hosur, Tamil Nadu.
Roadzen will serve as the program administrator, utilizing its AI-powered platform to manage the entire warranty process from pricing to claims processing in real-time. The solution specifically addresses the complexities of underwriting electric vehicles in India's rapidly growing two-wheeler market, which currently has over 260 million vehicles undergoing electrification.
The partnership aims to streamline warranty coverage and claims processing through the Simple Energy app, enhancing customer experience and supporting EV adoption in India's emerging market.
Roadzen Inc. (NASDAQ: RDZN) ha annunciato una partnership strategica con Simple Energy e un importante riassicuratore globale per fornire garanzie estese basate su intelligenza artificiale per motocicli elettrici in India. Simple Energy, nota per il suo prodotto di punta Simple One, produce scooter elettrici ad alte prestazioni presso il suo stabilimento a Hosur, Tamil Nadu.
Roadzen fungerà da amministratore del programma, utilizzando la sua piattaforma alimentata da intelligenza artificiale per gestire l'intero processo di garanzia, dalla determinazione dei prezzi all'elaborazione delle richieste in tempo reale. La soluzione affronta specificamente le complessità della sottoscrizione di veicoli elettrici nel dinamico mercato delle due ruote in India, che attualmente conta oltre 260 milioni di veicoli in fase di elettrificazione.
La partnership mira a semplificare la copertura delle garanzie e l'elaborazione delle richieste tramite l'app di Simple Energy, migliorando l'esperienza del cliente e supportando l'adozione dei veicoli elettrici nel mercato emergente dell'India.
Roadzen Inc. (NASDAQ: RDZN) ha anunciado una asociación estratégica con Simple Energy y un importante reasegurador global para proporcionar garantías ampliadas impulsadas por inteligencia artificial para motocicletas eléctricas en India. Simple Energy, conocida por su producto insignia Simple One, fabrica scooters eléctricos de alto rendimiento en su instalación en Hosur, Tamil Nadu.
Roadzen actuará como administrador del programa, utilizando su plataforma impulsada por inteligencia artificial para gestionar todo el proceso de garantía, desde la fijación de precios hasta el procesamiento de reclamaciones en tiempo real. La solución aborda específicamente las complejidades de la suscripción de vehículos eléctricos en el mercado de dos ruedas de India, que actualmente cuenta con más de 260 millones de vehículos en electrificación.
La asociación busca simplificar la cobertura de garantías y el procesamiento de reclamaciones a través de la aplicación de Simple Energy, mejorando la experiencia del cliente y apoyando la adopción de vehículos eléctricos en el mercado emergente de India.
로드젠 주식회사 (NASDAQ: RDZN)는 심플 에너지 및 세계적인 재보험사와 함께 인도에서 전기 이륜차를 위한 AI 기반 연장 보증 제공을 위한 전략적 파트너십을 발표했습니다. 심플 에너지는 플래그십 제품인 심플 원(Simple One)으로 유명하며, 타밀 나두 주 호수르에 있는 시설에서 고성능 전기 스쿠터를 제조합니다.
로드젠은 프로그램 관리자 역할을 하며, 가격 책정부터 청구 처리까지 전체 보증 프로세스를 실시간으로 관리하기 위해 AI 기반 플랫폼을 활용할 것입니다. 이 솔루션은 현재 2억 6천만 대 이상의 차량이 전기화되고 있는 인도의 급속히 성장하는 이륜차 시장에서 전기차의 언더라이팅의 복잡성을 해결하는 데 주안점을 두고 있습니다.
이 파트너십은 심플 에너지 앱을 통해 보증 범위 및 청구 처리를 간소화하여 고객 경험을 향상시키고 인도의 신흥 시장에서 전기차 도입을 지원하는 것을 목표로 하고 있습니다.
Roadzen Inc. (NASDAQ: RDZN) a annoncé un partenariat stratégique avec Simple Energy et un important réassureur mondial pour fournir des garanties prolongées basées sur l'intelligence artificielle pour les deux roues électriques en Inde. Simple Energy, connu pour son produit phare Simple One, fabrique des scooters électriques haute performance dans son usine à Hosur, Tamil Nadu.
Roadzen agira en tant qu'administrateur du programme, utilisant sa plateforme alimentée par l'intelligence artificielle pour gérer l'ensemble du processus de garantie, de la tarification à la gestion des sinistres en temps réel. La solution s'attaque spécifiquement aux complexités de l'underwriting des véhicules électriques sur le marché en plein essor des deux roues en Inde, qui compte actuellement plus de 260 millions de véhicules en cours d'électrification.
Le partenariat vise à rationaliser la couverture de garantie et le traitement des sinistres via l'application Simple Energy, améliorant ainsi l'expérience client et soutenant l'adoption des véhicules électriques sur le marché émergent de l'Inde.
Roadzen Inc. (NASDAQ: RDZN) hat eine strategische Partnerschaft mit Simple Energy und einem führenden globalen Rückversicherer angekündigt, um KI-gesteuerte erweiterte Garantien für elektrische Zweiräder in Indien anzubieten. Simple Energy, bekannt für sein Flaggschiffprodukt Simple One, produziert leistungsstarke Elektroroller in seiner Anlage in Hosur, Tamil Nadu.
Roadzen wird als Programmverwalter fungieren und seine KI-gestützte Plattform nutzen, um den gesamten Garantiesprozess in Echtzeit zu verwalten, von der Preisgestaltung bis zur Schadensbearbeitung. Die Lösung adressiert speziell die Komplexitäten der Underwriting von Elektrofahrzeugen im schnell wachsenden Zweiradmarkt Indiens, der derzeit über 260 Millionen Fahrzeuge umfasst, die elektrifiziert werden.
Die Partnerschaft zielt darauf ab, den Garantieschutz und die Schadensbearbeitung über die Simple Energy-App zu optimieren, um das Kundenerlebnis zu verbessern und die Einführung von Elektrofahrzeugen auf dem aufstrebenden indischen Markt zu unterstützen.
- Strategic entry into India's massive two-wheeler EV market with over 260 million vehicles
- Partnership with established EV manufacturer expands Roadzen's market presence
- AI-powered platform enables real-time warranty management and claims processing
- Integration with Simple Energy's app creates seamless customer experience
- None.
Insights
This partnership marks a strategic move in the EV insurance space, combining Roadzen's AI capabilities with Simple Energy's EV manufacturing expertise. The collaboration addresses a critical gap in India's rapidly growing two-wheeler EV market, where traditional insurance models often struggle with accurate risk assessment. Roadzen's AI platform's ability to process real-time data and handle claims in multiple currencies positions it well for the 260 million two-wheeler market undergoing electrification in India.
The integration of warranty services directly into Simple Energy's app creates a seamless customer experience, potentially reducing claim processing times and operating costs. This tech-first approach to EV warranty coverage could become a benchmark for similar partnerships in emerging markets. The backing of a global reinsurer adds significant credibility and financial stability to the program.
The timing of this partnership is strategic given India's aggressive push toward EV adoption. Simple Energy's manufacturing facility in Hosur and their focus on advanced battery technology addresses two critical concerns in the EV sector - production scalability and battery reliability. The extended warranty program, backed by AI-driven risk assessment, could significantly boost consumer confidence in EV adoption, particularly important in a price-sensitive market like India.
For Roadzen, this partnership provides valuable data access to refine their AI models for EV risk assessment, potentially creating a competitive moat in the rapidly growing EV insurance sector. The scalability of their platform positions them well to capture market share as India's two-wheeler fleet transitions to electric power.
NEW YORK, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced its partnership with Simple Energy, a new-age player building high-range electric two-wheelers, and a leading global reinsurer to offer extended warranties for Simple Energy’s vehicles. The reinsurer provides the underwriting capacity and is responsible for paying claims.
Simple Energy is dedicated to transforming the future of mobility through sustainable and innovative solutions. The company’s flagship product, the Simple One, is a high-performance electric scooter designed to offer superior range, cutting-edge technology, and a sleek design. Simple Energy places a strong emphasis on the development of advanced EV components, including long-lasting batteries, to ensure reliability and efficiency, and customer satisfaction. The company’s manufacturing facility in Hosur, Tamil Nadu, India, delivers precision-engineered electric vehicles, underscoring its commitment to quality and sustainability. As a key player in the electric mobility revolution in India, Simple Energy is focused towards making EVs a better driving experience as compared to its ICE counterparts.
Roadzen serves as the program administrator, leveraging its AI-powered technology platform to provide a seamless purchase-to-claims experience for Simple Energy’s customers. The platform manages everything from pricing and issuing policies to collecting premiums and processing claims—in real-time and in any currency worldwide. This solution is designed to address the complexities of underwriting electric vehicles—a rapidly growing segment in India, which has over 260 million two-wheelers on its roads undergoing rapid electrification.
Suhas Rajkumar, CEO, Simple Energy said "At Simple Energy, we are committed to providing innovative automobile solutions, and this partnership reinforces that dedication. With Roadzen’s innovative use of AI technology, we are able to offer our customers a seamless, future-ready warranty solution that ensures the long-term performance and reliability of their EVs. This collaboration is crucial in enhancing our customer experience, providing an integrated warranty and smooth claims process directly through the Simple Energy app, bringing peace of mind to our customers at their fingertips.”
“We believe reliable coverage is crucial to accelerating EV adoption,” said Rohan Malhotra, CEO of Roadzen. “We are using AI to streamline pricing and to adjudicate claims, giving Simple Energy’s customers complete peace of mind. By partnering with insurers and reinsurers, we’re able to scale this solution for a fast-emerging EV two-wheeler market that we expect to grow significantly in the coming years.”
About Roadzen Inc.
Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France.
To learn more, please visit www.roadzen.ai.
About Simple Energy
Simple Energy is taking the lead to revolutionize the future of electric mobility in India. Founded in 2019 and headquartered in Bengaluru, the company has emerged as one of the country’s top three premium EV manufacturers. Committed to making sustainable transportation more accessible, secure, and comfortable, Simple Energy blends cutting-edge technology with a focus on quality, transparency, and integrity.
Its flagship products, Simple One and Simple Dot One, are fully made-in-India and tackle the key barriers to EV adoption, including range anxiety, charging time, and affordability. With a state-of-the-art manufacturing facility in Hosur, Tamil Nadu, India, and 12 showrooms in south India, Simple Energy is scaling up production to meet the growing demand for eco-friendly vehicles and is poised to lead India’s electric revolution.
To learn more, please visit www.simpleenergy.in
For more information, please contact:
Investor Contacts:
IR@roadzen.ai
Media Contacts:
Sanya Soni: sanya@roadzen.ai
Gutenberg: roadzen@thegutenberg.com
Cautionary Statement Regarding Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “pipeline,” “leads,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding anticipated growth, anticipated benefits of our partnership with Simple Energy, and all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the definitive proxy statement/prospectus we filed with the SEC on August 14, 2023. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
FAQ
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