Roadzen Partners with Simple Energy and a Leading Global Reinsurer to Provide AI-Driven Extended Warranty for Electric Two-Wheelers

NEW YORK, Dec. 31, 2024 (GLOBE NEWSWIRE) -- Roadzen Inc. (Nasdaq: RDZN) (“Roadzen” or the “Company”), a global leader in AI at the convergence of insurance and mobility, today announced its partnership with Simple Energy, a new-age player building high-range electric two-wheelers, and a leading global reinsurer to offer extended warranties for Simple Energy’s vehicles. The reinsurer provides the underwriting capacity and is responsible for paying claims.

Simple Energy is dedicated to transforming the future of mobility through sustainable and innovative solutions. The company’s flagship product, the Simple One, is a high-performance electric scooter designed to offer superior range, cutting-edge technology, and a sleek design. Simple Energy places a strong emphasis on the development of advanced EV components, including long-lasting batteries, to ensure reliability and efficiency, and customer satisfaction. The company’s manufacturing facility in Hosur, Tamil Nadu, India, delivers precision-engineered electric vehicles, underscoring its commitment to quality and sustainability. As a key player in the electric mobility revolution in India, Simple Energy is focused towards making EVs a better driving experience as compared to its ICE counterparts.

Roadzen serves as the program administrator, leveraging its AI-powered technology platform to provide a seamless purchase-to-claims experience for Simple Energy’s customers. The platform manages everything from pricing and issuing policies to collecting premiums and processing claims—in real-time and in any currency worldwide. This solution is designed to address the complexities of underwriting electric vehicles—a rapidly growing segment in India, which has over 260 million two-wheelers on its roads undergoing rapid electrification.

Suhas Rajkumar, CEO, Simple Energy said "At Simple Energy, we are committed to providing innovative automobile solutions, and this partnership reinforces that dedication. With Roadzen’s innovative use of AI technology, we are able to offer our customers a seamless, future-ready warranty solution that ensures the long-term performance and reliability of their EVs. This collaboration is crucial in enhancing our customer experience, providing an integrated warranty and smooth claims process directly through the Simple Energy app, bringing peace of mind to our customers at their fingertips.”

“We believe reliable coverage is crucial to accelerating EV adoption,” said Rohan Malhotra, CEO of Roadzen. “We are using AI to streamline pricing and to adjudicate claims, giving Simple Energy’s customers complete peace of mind. By partnering with insurers and reinsurers, we’re able to scale this solution for a fast-emerging EV two-wheeler market that we expect to grow significantly in the coming years.”

About Roadzen Inc.

Roadzen Inc. (Nasdaq: RDZN) is a global technology company transforming auto insurance using advanced artificial intelligence (AI). Thousands of clients, from the world’s leading insurers, carmakers, and fleets to dealerships and auto insurance agents, use Roadzen’s technology to build new products, sell insurance, process claims, and improve road safety. Roadzen’s pioneering work in telematics, generative AI, and computer vision has earned recognition as a top AI innovator by publications such as Forbes, Fortune, and Financial Express. Roadzen’s mission is to continue advancing AI research at the intersection of mobility and insurance, ushering in a world where accidents are prevented, premiums are fair, and claims are processed within minutes, not weeks. Headquartered in Burlingame, California, the Company has 360 employees across its global offices in the U.S., India, U.K. and France.

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About Simple Energy

Simple Energy is taking the lead to revolutionize the future of electric mobility in India. Founded in 2019 and headquartered in Bengaluru, the company has emerged as one of the country’s top three premium EV manufacturers. Committed to making sustainable transportation more accessible, secure, and comfortable, Simple Energy blends cutting-edge technology with a focus on quality, transparency, and integrity.

Its flagship products, Simple One and Simple Dot One, are fully made-in-India and tackle the key barriers to EV adoption, including range anxiety, charging time, and affordability. With a state-of-the-art manufacturing facility in Hosur, Tamil Nadu, India, and 12 showrooms in south India, Simple Energy is scaling up production to meet the growing demand for eco-friendly vehicles and is poised to lead India’s electric revolution.

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This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “could,” “would,” “expect,” “plan,” “anticipate,” “believe,” “pipeline,” “leads,” “estimate,” and “continue,” or the negative of such terms or other similar expressions. Such statements include, but are not limited to, statements regarding anticipated growth, anticipated benefits of our partnership with Simple Energy, and all other statements other than statements of historical fact included in this press release. Factors that might cause or contribute to such a discrepancy include, but are not limited to, those described in “Risk Factors” in our Securities and Exchange Commission (“SEC”) filings, including the definitive proxy statement/prospectus we filed with the SEC on August 14, 2023. We urge you to consider these factors, risks and uncertainties carefully in evaluating the forward-looking statements contained in this press release. All subsequent written or oral forward-looking statements attributable to our company or persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements included in this press release are made only as of the date of this release. Except as expressly required by applicable securities law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.