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Contract with Velocity Auto Solutions for Carllm

Contract Date: October 1, 2023
Contract Number: C-12345-2023
Client: Velocity Auto Solutions
Product: Carllm Auto Insurance Solution


Terms

  1. Duration: This contract is effective for a period of 12 months from the contract date.
  2. Payment Schedule: Velocity Auto Solutions agrees to pay Insurellm the total fee associated with the selected subscription tier on a monthly basis, beginning on the contract date.
  3. Confidentiality: Both parties agree to keep all proprietary information confidential and not to disclose it to any third parties without written consent.
  4. Intellectual Property: All components of Carllm and any related technology are the property of Insurellm, and license is granted to Velocity Auto Solutions for internal use only.

Renewal

  1. Automatic Renewal: This contract will automatically renew for successive 12-month periods unless either party provides written notice at least 30 days prior to the end of the initial term or any renewal term.
  2. Rate Adjustment: Subscription pricing may be subject to adjustment, with Insurellm providing a 60-day advance notice of any changes prior to renewal.

Features

  1. Included Features:

    • AI-Powered Risk Assessment
    • Instant Quoting and Customizable Coverage Plans
    • Fraud Detection Systems
    • Customer Insights Dashboard
    • Automated Customer Support
  2. Feature Enhancements: Velocity Auto Solutions will receive updates to the Carllm product as outlined in the Insurellm 2025-2026 Roadmap, including mobile integration and telematics-based pricing enhancements.

Support

  1. Customer Support: Velocity Auto Solutions will have access to Insurellm’s customer support team via email or chatbot, available 24/7.
  2. Technical Maintenance: Regular maintenance and updates to the Carllm platform will be conducted by Insurellm, with any downtime communicated in advance.
  3. Training & Resources: Initial training sessions will be provided for Velocity Auto Solutions’ staff to ensure effective use of the Carllm suite. Regular resources and documentation will be made available online.

Accepted and Agreed:
For Velocity Auto Solutions
Signature: _____________________
Name: John Doe
Title: CEO
Date: _____________________

For Insurellm
Signature: _____________________
Name: Jane Smith
Title: VP of Sales
Date: _____________________