Relimetrics, a leader in AI-based quality inspection for manufacturing processes, has announced that the detection accuracy and availability of its software systems will be guaranteed and that this guarantee is backed by the Munich Re Group, one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions.
With the high degree of customization required in manufacturing today, quality inspections are becoming increasingly more complex. Current quality assurance (QA) solutions are not able to keep up with the high level of production variability on the shop floor, according to Relimetrics. Consequently, defects are often missed, resulting in costly rework and recall costs, as well as liability and reputation issues.
Relimetrics said its shop-floor ready software stack remedies these issues, enabling manufacturers to digitize visual inspections and create full traceability of quality in all stages of production. Users of Relimetrics' technology benefit from enhanced product quality, increased productivity and higher throughput. ReliVision, Relimetrics' product suite, is self-implementable and can be quickly integrated with any image acquisition hardware.
Prior to granting coverage through its aiSure program, Munich Re conducted an extensive due diligence on Relimetrics' ReliVision technology. As a result, the policy issued via the Munich Re Group agrees to indemnify Relimetrics for its liability to its customers under the warranty for Relimetrics' customer expenses related to the costs of hiring a manual operator, should the technology not work as expected.
"Munich Re's insurance reimburses Relimetrics for its warranty liabilities to its customers in case the AI-based ReliVision does not perform as guaranteed. This signals trust to Relimetrics' customers and at the same time takes the risk of unintended performance off the Relimetrics balance sheet," said Roman Beilhack, global head of Green Technologies, Internet of Things and Artificial Intelligence at Munich Re.
Both of the following scenarios are covered under the guarantee: Mistakes in filtering out intact elements leading to unnecessary interruptions in operation; and failure to detect actual defects leading to loss of quality, damage to reputation and penalties.
"Munich Re's insuring of Relimetrics' product is a first of its kind in the quality assurance automation industry," said Kemal Levi, founder and CEO at Relimetrics. "This insurance and due diligence by Munich Re should give manufacturers the confidence to move forward with replacing ineffective and outdated quality assurance solutions with Relimetrics' AI-based product suite."
Relimetrics empowers manufacturers with AI-based automation systems that guarantee defect detection accuracy and shop-floor availability. With hubs in Silicon Valley and Berlin, Relimetrics is working with leading Fortune 500 companies, helping them digitize their quality assurance and assembly processes.
Relimetrics demonstrating how their systems work