Get quick and accurate quotes with Armilla, ensuring your clients can swiftly secure the AI risk coverage they need.
Benefit from our precision underwriting process, offering tailored solutions that adapt to your clients' evolving AI risks.
Provide your clients with specialized coverage designed specifically to mitigate the unique risks associated with AI, backed by Armilla's expertise, innovative solutions, and world leading insurers.
In the opaque and unpredictable world of AI, you need a guide you can trust to effectively quantify AI risk. Our approach to AI insurance analytics brings clarity and order to the chaos.
The Warranty is a guarantee that the AI model will meet or exceed specific performance benchmarks. If the model fails to achieve the performance and the vendor is unable to remediate the problem, the Customer will receive a refund on their purchase.
To establish performance Armilla AI completes an assessment of the Vendor’s model. Armilla AI and the Vendor jointly agree on the metric(s) most relevant to warrant. For example, accuracy may be an important factor and could be warranted at 90%. Armilla AI will then reimburse the Vendor up to the contract value for Customer contracts covered by the warranty if performance falls below 90%.
Armilla AI provides the warranty to the Vendor. The Vendor provides the warranty to their Customer. In the event of a claim, Armilla AI will reimburse the Vendor and the Vendor will reimburse the Customer.
The Vendor must register all warranties with Armilla within 30 days of executing the warranty with the Customer. Registration must be made by emailing register@armilla.ai. Registration must include the following:
- Customer name
- Total contract value warranted
- Date of sale
If the performance of the model as outlined in the warranty terms has fallen below the warranty threshold, the vendor must make all efforts to remediate the performance. If the performance has not been remediated within 60 days, the Customer will be eligible to submit a warranty claim.
The Vendor must file a reimbursement request directly with Armilla AI at www.armilla.ai/warranty/claim after the remediation period as specified. Proof of the remediation attempt may be required. Such reimbursement request shall include the following information: date period of the claim, date of remediation period start and end, data required to reproduce the results, access to the version of the model used in production and the expected results.Armilla AI will validate the reimbursement request and pay the Vendor which the Vendor can then use to reimburse the Customer.
Armilla AI will complete its processing of any reimbursement request within a reasonable period following the date we have contacted you or you have requested a reimbursement under the Software Performance Warranty.
The Warranty Terms are not intended to constitute an offer to insure, do not constitute insurance or an insurance contract, and do not take the place of insurance obtained or obtainable by the Vendor. The benefits provided under the Warranty Terms are not assignable or transferable by the Vendor, including without limitation any transfer or assignment by operation of law or in connection with your bankruptcy, divorce or death.
The Warranty specifically excludes defects resulting from accident, abuse, modifications, misapplication, or any other kind of inappropriate use of the Vendor’s software and resulting report and evaluation of the Vendor’s performance metrics and also excludes any other conduct that is otherwise materially inconsistent with the Vendor’s Terms of Service. Excluded examples:
- Use of the Vendor’s model with missing, inaccurate, incomplete, or misleading data relative to the training and test data evaluated by Armilla AI as specified in the AI Verification Report.
- The user’s inability to access the Vendor’s model due to the unavailability of the system(s) that host the model and provide access to the model.
- Failures of the model resulting from a cyber-attack, adversarial attack, or an incident that is covered by your cyber-insurance policy.
- The Vendor’s modification to the Vendor’s model that changes the performance relative to the AI Verification Report or evaluation of the Vendor’s performance metrics.
- Failures of the model arising from the occurrence of a force majeure event, including without limitation earth movement; fire; disease; war; nuclear reaction, radiation or contamination; or terrorist activity; or any activity involving the use or threatened use of any nuclear, biological, chemical, or radioactive agent, material, device or weapon excluding nation state cyber-attacks.