102 lines
4.9 KiB
Markdown
102 lines
4.9 KiB
Markdown
# Contract with Atlantic Risk Solutions for Bizllm
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## Terms
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1. **Agreement Effective Date**: This contract is effective as of January 15, 2025.
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2. **Duration**: This agreement will remain in effect for a term of 12 months, concluding on January 14, 2026.
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3. **Subscription Type**: Atlantic Risk Solutions agrees to subscribe to the **Professional Tier** of Bizllm, at a cost of $12,000/month, totaling $144,000 for the duration of this contract.
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4. **Payment Terms**: Payments are due on the 10th of each month via ACH transfer. Late payments will incur a penalty of 1.5% per month and may result in service suspension after 15 days delinquency.
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5. **User Licenses**: Contract includes 35 named user licenses. Additional users may be added at $180/month per license.
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6. **Termination Clause**: Either party may terminate this agreement with 45 days' written notice. Early termination requires payment of 50% of remaining contract value.
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## Renewal
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1. **Automatic Renewal**: This agreement will automatically renew for an additional 12-month term unless either party provides written notice of non-renewal at least 45 days before the expiration date.
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2. **Price Protection**: Pricing increases capped at 8% annually for the first two renewal periods, providing Atlantic Risk Solutions with budget predictability.
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3. **Volume Discounts**: If Atlantic Risk Solutions expands to Enterprise tier during renewal, they receive a 15% discount on the difference for the first renewal year.
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## Features
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1. **Access to Professional Tier Features**: Atlantic Risk Solutions will have access to all Professional Tier features, including:
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- Multi-Line Underwriting Engine supporting general liability, professional liability, property, workers' compensation, and cyber insurance
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- Business Intelligence Integration with automated data gathering from 50+ data sources
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- Cyber Risk Assessment module with security posture evaluation
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- Workers' Compensation Optimization with payroll integration and class code analysis
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- Commercial Property Evaluation with catastrophe modeling
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- Professional Liability Specialization for E&O coverage
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- Portfolio Management Dashboard with loss ratio tracking and geographic analysis
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- Agent and Broker Portal supporting up to 500 distribution partners
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- Claims Management Integration with reserve recommendation engine
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2. **Industry-Specific Templates**: Pre-configured underwriting templates for:
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- Technology companies and software-as-a-service (SaaS) businesses
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- Professional services firms (consulting, accounting, legal)
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- Healthcare providers and medical practices
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- Contractors and construction trades
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- Restaurants and hospitality businesses
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3. **Advanced Reporting**: Monthly automated reports including:
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- New business pipeline and conversion rates
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- Renewal retention analysis
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- Loss ratio trending by line of business
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- Agent performance scorecards
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- Competitive market positioning insights
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## Support
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1. **Technical Support**: Atlantic Risk Solutions will receive priority technical support from Insurellm for any issues arising from the Bizllm product:
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- Dedicated support phone line and email
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- Response time: 4 hours for critical issues, 12 hours for standard requests
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- Access to technical support Monday-Friday 7 AM - 8 PM EST
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2. **Training**: Insurellm will provide comprehensive training program:
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- Initial onboarding for up to 15 staff members (20 hours total training)
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- Bi-monthly webinars on platform updates and best practices
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- Access to on-demand video library and knowledge base
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- Annual refresher training session
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3. **Updates and Maintenance**:
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- Quarterly platform updates with new features and security enhancements
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- Monthly minor updates and bug fixes
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- Maintenance windows: Sunday 1 AM - 5 AM EST
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- 48-hour advance notice for all scheduled maintenance
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4. **Account Management**:
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- Assigned account manager with quarterly business review meetings
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- Annual strategic planning session to align platform usage with business goals
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- Priority access to new beta features
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5. **Integration Support**: Technical assistance for integrating Bizllm with:
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- Atlantic's existing agency management system (Applied Epic)
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- Commercial lines rating platforms
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- Third-party data providers (Dun & Bradstreet, Experian, Verisk)
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- Email marketing platforms for agent communications
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---
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**Signatures:**
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_________________________________
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**Michael Torres**
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**Title**: Chief Revenue Officer
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**Insurellm, Inc.**
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**Date**: January 15, 2025
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_________________________________
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**Diana Marquez**
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**Title**: Senior Vice President, Commercial Lines
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**Atlantic Risk Solutions**
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**Date**: January 15, 2025
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*This contract establishes a professional partnership between Insurellm and Atlantic Risk Solutions, enabling Atlantic to leverage cutting-edge AI technology for commercial insurance underwriting and administration.*
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