DARMSTADT, Germany, April 17, 2023 /PRNewswire/ — COMPREDICT, a Germany-based provider of AI-based Virtual Sensors which enable large-scale exploitation of in-vehicle data, today announced a performance guarantee, insurance backed by a Munich Re Group Company.
COMPREDICT as one of the world’s leading software start-ups within the automotive and mobility space, transforms raw vehicle data into insightful Virtual Sensors to close the loop between the development, usage, and service of vehicles.
© Munich Re – AI-based Virtual Sensors with Performance Guarantee
With the ever-increasing trends of connected vehicles and sustainable mobility, vehicle OEMs and TIER 1 suppliers must produce vehicles that are smarter and more efficient in terms of development, monitoring, safety and usage-based service. It is becoming extremely important for vehicle manufacturers to be able to analyze the in-vehicle data and get additional insights to understand usage and predict component lifetime.
Getting such insights would usually require the use of additional traditional physical sensors, which is largely unaffordable in terms of cost or technical requirements. This is where COMPREDICT’s solution comes in.
“Because the smartest sensor is the one which does not exist, COMPREDICT has developed a purely software-based technology called Virtual Sensors, which combines automotive and durability expertise with machine learning approaches.” Stéphane Foulard, CEO of COMPREDICT
Virtual Sensors allows OEMs and Tier 1 suppliers to replace legacy hardware sensors and consequently to reduce the amount of electronics in vehicles.
They can also add new measurement capabilities to vehicles at low cost, enabling them to sense information that they usually cannot. COMPREDICT’s Virtual Sensors has also the ability to monitor vehicle health and usage, and to predict the future by forecasting component wear and fatigue and detecting potential failures early.
To convince its customers and partners of the reliability, robustness and performance of the solution, COMPREDICT is partnering with a Munich Re Group Company to provide customers with a performance guarantee for the event of underperformance by the Virtual Sensors.
“Taking decisions based on AI models requires trust, which vehicle OEMs usually see as a risk. The performance guarantee backed by Munich Re helps our customers manage the risk, and it creates trust.” Stéphane Foulard, CEO of COMPREDICT
Experts from a Munich Re Group company ran a due diligence on the performance of COMPREDICT’s AI Virtual Sensors. More specifically, COMPREDICT now offers its solution in combination with a performance guarantee for the accuracy of Virtual Sensors, insurance backed by a Munich Re Group Company.
About COMPREDICTCOMPREDICT is a Germany-based provider of AI-based Virtual Sensors that enable large-scale exploitation of in-vehicle data, especially for monitoring vehicle health and usage. COMPREDICT’s Virtual Sensors technology enables OEMs, Tier 1 and fleet operators to gain deeper insights into how their vehicles are used and how they behave under real-life conditions. COMPREDICT’s unique approach combines automotive and durability expertise with machine learning and allows value-added insights on both wearable and non-wearable automotive components. The solution can be implemented in any type of vehicle regardless of its development stage, either embedded or as a cloud solution.
COMPREDICT is a Germany-based provider of AI-based Virtual Sensors that enable large-scale exploitation of in-vehicle data, especially for monitoring vehicle health and usage. COMPREDICT’s Virtual Sensors technology enables OEMs, Tier 1 and fleet operators to gain deeper insights into how their vehicles are used and how they behave under real-life conditions. COMPREDICT’s unique approach combines automotive and durability expertise with machine learning, and allows value-added insights on both wearable and non-wearable automotive components. The solution can be implemented in any type of vehicle regardless of its development stage, either embedded or as a cloud solution.
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PR contact: contact@compredict.ai
SOURCE COMPREDICT GmbH