One80 Intermediaries, a specialty insurance broker headquartered in Boston, has unveiled a pioneering AI warranty coverage for enterprises.
The solution has been launched to combat the the increasing need for protection against AI-related failures, which can lead to significant financial losses for businesses and third-party AI vendors alike.
The newly-launched coverage provides comprehensive protection against the risks associated with unreliable AI models. Developed in partnership with Armilla AI, this coverage verifies both open source and proprietary AI models, instilling confidence in the technology procured from third-party vendors.
The partnership also ensures that clients have access to cutting-edge risk management solutions, empowering them to deploy AI technologies with confidence.
Commenting on the collaboration, Karthik Ramakrishnan, CEO and Co-Founder, Armilla AI, said, “Insurance will play a significant role in addressing AI risk, and Armilla is at the forefront of developing warranty and insurance products that will allow companies to deploy AI solutions safely. We are confident that partnering with One80 will enable us to continue to deliver market leading AI insurance solutions at scale.”
One80 operates as a specialty insurance broker, catering to clients with unique and complex risk management needs. The company is known for its forward-thinking approach and commitment to delivering tailored insurance solutions that meet the evolving demands of the market.
Matthew F. Power, President, One80 Intermediaries, highlighted how important innovation is to the firm, stating, “Innovation is core to One80’s culture. We consistently demonstrate our ability to pioneer insurance solutions – and take pride in our history of being the first movers in the market with new insurance products such as One80’s AI Product Warranty Coverage.”
Jonathan Legge, Senior Managing Director, One80 Intermediaries, added, “We are thrilled to partner with our brokers and clients in assessing and mitigating AI-related risks and believe that this solution will revolutionise AI risk management.”
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