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Contract with GreenValley Insurance for Homellm

Contract Date: October 6, 2023
Contract Number: HV-2023-0458
Parties:

  • Insurellm, Inc.
  • GreenValley Insurance, LLC

Terms

  1. Coverage: Insurellm agrees to provide GreenValley Insurance with access to the Homellm product, allowing for personalized home insurance offerings tailored to customers.

  2. Duration: This agreement is effective for a period of 12 months from the contract date, after which it will automatically renew unless terminated by either party with a written 30-day notice.

  3. Payment: GreenValley Insurance shall pay a monthly fee of $10,000, due by the 5th of every month for the Standard Tier package.

  4. Confidentiality: Both parties agree to maintain the confidentiality of proprietary information disclosed during the execution of this contract.

  5. Liability: Insurellm's liability under this agreement shall be limited to direct damages and shall not exceed the total fees paid by GreenValley Insurance in the last 12 months prior to the date of the claim.


Renewal

Unless either party provides a written notice of termination at least 30 days prior to the expiration of the contract term, this agreement will automatically renew for an additional one-year term under the same terms and conditions.


Features

GreenValley Insurance will receive the following features with Homellm:

  1. AI-Powered Risk Assessment: Access to advanced AI algorithms for real-time risk evaluations.

  2. Dynamic Pricing Model: Flexible premium adjustments based on ongoing risk analysis.

  3. Instant Claim Processing: Automated claim management to accelerate processing times significantly.

  4. Predictive Maintenance Alerts: Alerts for potential maintenance needs to mitigate risks.

  5. Multi-Channel Integration: Capability to integrate seamlessly with existing systems for unified customer management.

  6. Customer Portal: A user-friendly portal for their customers for policy and claims management.


Support

Insurellm commits to providing comprehensive support to GreenValley Insurance, which includes:

  1. Onboarding: An extensive training program for the GreenValley staff to ensure effective use of Homellm.

  2. Dedicated Support Team: A dedicated support team available 24/7 to address any technical issues or inquiries.

  3. Regular Updates: Insurellm will offer ongoing updates and enhancements to the Homellm platform, including new features and security improvements.

  4. Feedback Implementation: Insurellm will actively solicit feedback from GreenValley Insurance to ensure Homellm continues to meet their evolving needs.


Signatures:


[Name]
Title: CEO
Insurellm, Inc.


[Name]
Title: COO
GreenValley Insurance, LLC


This agreement represents the complete understanding of both parties regarding the use of the Homellm product and supersedes any prior agreements or communications.