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Contract with EverGuard Insurance for Rellm: AI-Powered Enterprise Reinsurance Solution

Contract Number: IG-2023-EG
Effective Date: January 1, 2024
Expiration Date: December 31, 2026

Terms

  1. Parties: This agreement is made between Insurellm, located at 123 Innovation Drive, Tech City, USA, and EverGuard Insurance, located at 456 Safety Lane, Protectville, USA.

  2. Product Description: This contract pertains to the use of the Rellm platform, an AI-powered enterprise reinsurance solution provided by Insurellm. EverGuard Insurance will implement Rellm to enhance its reinsurance operations.

  3. Payment Terms: EverGuard Insurance agrees to pay Insurellm a monthly fee of $10,000 for the duration of this contract, covering the Professional Plan features of Rellm, which includes all advanced integrations and priority customer support.

  4. Usage Rights: EverGuard Insurance is granted a non-exclusive, non-transferable license to access and use Rellm for the duration of this contract. Unauthorized sharing or distribution is strictly prohibited.

Renewal

  1. Automatic Renewal: This contract will automatically renew for successive one-year terms unless either party provides written notice of termination at least 60 days prior to the expiration date.

  2. Price Adjustment: In the event of a renewal, Insurellm reserves the right to adjust the monthly fee based on market conditions and the value of services offered, with a minimum notice of 30 days.

Features

  1. Core Functionality: Rellm provides EverGuard Insurance with advanced AI-driven analytics, seamless integrations, and a comprehensive risk assessment module designed to optimize risk management.

  2. Customizable Dashboard: Users at EverGuard Insurance will have access to a customizable dashboard that allows them to tailor their experience based on their specific operational metrics.

  3. Compliance Tools: The built-in regulatory compliance tools will ensure that EverGuard Insurance meets industry standards while managing its reinsurance practices.

  4. Client Portal Access: EverGuard Insurance will have access to both client and broker portals, enhancing communication and collaboration with its partners.

Support

  1. Customer Support: Insurellm will provide EverGuard Insurance with 24/7 customer support, including live chat, email, and phone assistance for any technical issues or inquiries regarding Rellm.

  2. Training Services: Insurellm will provide initial training for EverGuard Insurance staff to ensure proper utilization of Rellm features. Additional training sessions can be scheduled upon request at an agreed fee.

  3. Updates and Upgrades: EverGuard Insurance will receive all platform updates and upgrades at no additional cost during the contract term, including enhancements outlined in Insurellm’s 2025-2026 roadmap.

  4. Feedback Mechanisms: EverGuard Insurance is encouraged to provide feedback regarding Rellm’s functionalities and any desired features, which will be considered for future updates.


Signatures
For Insurellm: __________________________
Name: John Smith
Title: Chief Operating Officer
Date: _________________

For EverGuard Insurance: __________________________
Name: Sarah Johnson
Title: Chief Executive Officer
Date: _________________


This contract seeks to foster a strong partnership between Insurellm and EverGuard Insurance, leveraging Rellm to innovate and enhance reinsurance capabilities while ensuring mutual growth and compliance in the ever-evolving insurance landscape.