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Drive electric, behave well, pay less Whitepaper
February 2020
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Preface
At Joltee, we believe that sharing and electric vehicles are the future of mobility.
Car-sharing will decrease the traffic density and the lack of parking spots. With Joltee, car-
sharing also means cost sharing. Our users will save money on their transportation expenses.
As air quality improvement has become one of the key issues in the world, a transition from
gasoline to electric cars is essential. Cities like Paris are already part of this transition. Anne
Hidalgo, mayor of Paris, is planning to ban all fossil-fuel vehicles from the city by 2030. Joltee
also wants to be an active actor of this change, by proposing electric cars at low price and extend
it to all mobility equipments: bikes, segways, scooters and so on.
Telematics equipment allows drivers to improve their driving skills, by suggesting them
improvements regarding their driving habits. Joltee provides drivers with metrics to incentivize
safe and respectful driving behavior.
We, as Joltee founders, are creating a community that values the sharing economy, electric
vehicles and best driving practices.
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Table des matièresPreface 2Advance warning 4Introduction 5Electric cars and insurance market figures 6Joltee executive summary 7Chapter 1 : An introduction to blockchain 8Chapter 2 : Joltee Overview 102.1 Our vision 102.2 Rewards system 112.3 Being insured for renting a car through Joltee 13
2.3-1 Conclusion of the insurance policy 132.3-2 Insurance premium and group renting payment 142.3-3 Declaring a claim with the Joltee platform 15
2.4 Advantages of the Joltee platform 162.4-1 Be insured, be rewarded 162.4-2 Make economy on the vehicle renting price 172.4-3 Get to drive high-class vehicles at discounted price 172.4-4 Enjoy Joltee’s ecosystem 17
Chapter 3 : Joltee technology 183.1 Functioning of the platform 183.2 The Joltee application 193.3 Driving skills scoring calculation 243.4 Price and deposit 26
3.4-1 Where the money goes 263.4-2 Deposit management 26
Chapter 4 : Token and ICO’s architecture 274.1 JOLT Token 27
4.1-1 JOLT Token creation 274.1-2 The JOLT value 274.1-3 Token allocation 284.1-4 Acquiring tokens 294.1-5 Token Sale and Distribution Roadmap 304.1-6 Token Summary 31
4.2 JOLT smart contract 324.3 Development timeline 33The founders 34Legal Disclaimer 36
Disclaimer of Liability 36Representation and Warranties 37Protection of Personal Data 38Governing Law 39
Advisors 40Partners 43Corporations 46
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Advance warning
The Initial Coin Offering (thereafter the « ICO »), presented in this Whitepaper by Joltee GmbH is
an unregulated fundraising operation. It presents several risks for buyers, for example a possible
loss of all amounts traded for purchasing JOLT Tokens issued by Joltee GmbH. Indeed, ICO
participations can be considered high-risk operation.
Therefore, prospective acquirers of JOLT Tokens should carefully consider and evaluate all risks
and uncertainties associated with the cryptocurrencies, the blockchain-based systems, the JOLT
Tokens and the ICO.
For more information please read the Legal Disclaimer.
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Introduction
Joltee is an Insurtech company rewarding mobility solution best practices. The more the driver will improve his driving skills and respect the vehicle, the higher he gets rewarded.
How to do so ? By monitoring the driving behavior with IoT solution, use the data received to analyze and score the driver, then based on that score, reward him at the end of each trip. This reward mainly comes from the negotiations done with insurers, by decreasing the claims ratio and improving risk-profile, cars manufacturers, by reducing the residual value, and other sources of negotiation. That allows us to unlock net value which is directly given back to the driver. Joltee makes this virtuous combination possible by creating a platform that connects Drivers, Insurers, Car manufacturers, Government organizations and Partnership companies.
Using this platform the driver will be able to rent a car at a discounted price from the car manufacturer directly with an insurance contract attached. This disintermediation is possible with a specific technology currently growing particularly in the insurance and automobile sectors, the blockchain.
From the insurer perspective, more than all innovative aspects described in this document, the platform will provide also a fully digitalized process regarding the claim management and the underwriting procedure. It allows the insurer to save time, costs, increase new business and reduce the churn ratio.
From the car manufacturer, Joltee is providing a direct channel for electric market penetration at zero marketing cost to a population who prefers to save money rather than immobilizing capital. Today, we believe drivers are looking for a solution merging practical mobility, safety, comfort and financial advantages.
Enabler for blockchain integration in Insurance, Automobile and Public Infrastructures, Jolteeallows its actors to join their commercial offer through an innovative decentralized platform, doing both B2B2C and B2C.It continues with a unique business model: "better you drive less you pay" with a real timecalculation to grant a reward, called the JOLT token, to the driver at the end of each trip.
As being rewarded for good driving is not enough for Joltee, features around the use of thevehicle are proposed: car-pooling, private car renting, group renting and challenging friends andmembers.
Joltee GmbH is a Zurich based company founded by executives from major actors in Insurance,Bank, Retail and Consultancy markets , a Joltee subsidiary company is also present in France.
From experiences learnt in their daily job, Joltee founders understood the importance of theblockchain technology as a solution for disintermediation, safer transactions, real time pricing based on drivers behaviour. They have also understood the potential to onboard fancy features around this platform.
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90% 90% of insurance companies are
concerned about competition
from InsurTechs
142 million The number of consumer subscribers to
Usage-Based auto Insurance is expected
to grow to 142 million globally by 2023,
57%conceded they did
not yet know how to
respond
In 2030, electric cars would stand for 65%
of all automobile sales in the world.
80% PSA will electrify 80% of its fleet before 2023.
More electric cars produced in 2017
+44% +82% in China.
in Europe .
€20 billion
Volkswagen Group will earmark over €20 billion for direct investments in the industrialization of e-mobility
65%
Electric cars and insurance market figures
Sources : IHS reportAlix PartnersVolkswagenLes EchosPwC reportAvere and China Association of Automobile Manufacturers (CAAM)
56%of insurance firms
said they recognized
the importance of
blockchain.
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Joltee executive summary
Joltee drivers will benefit from the following core features:
Within the platform a token is used for payments and rewards, the JOLT Token.
To reward good drivers and give incentives, the JOLT Token is financed by several agreements*
including the reward from the insurer thanks to a better risk-profile.
Rent an electric car individually or within a group of users
Show how good you drive
and increase your JOLT
wallet
Share your own car to the community and be rewarded
Professional Driver or Individual, take someone on your way and boost your wallet
Enjoy the free floating services with a personalized price
Challenge the members ofthe Joltee community, earnJOLT Tokens and show them what a good driver you are
+ 50 jolt
+ 50
+ 50 jolt + 50 jolt
*Joltee GmbH wants to keep its competitive advantage in the market and could explain on specific requests.
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Chapter 1 : An introduction to blockchain
"Blockchain technology has potential to become the new engine of growth in digital economy
where we are increasingly using Internet to conduct digital commerce."
Berkeley University
Let us precise a bit more what the technology behind the blockchain is.
At its core, blockchain is an open, decentralized ledger that records transactions between two
parties in a permanent way without needing third-party authentication (or central authority).
Picture a spreadsheet that is duplicated thousands of times across a network of computers.
Then imagine that this network is designed to regularly update this spreadsheet and you have a
basic understanding of the blockchain.
The first major application of blockchain technology was Bitcoin which was released in 2009. The
Bitcoin blockchain provided the answer to digital trust because it records important information.
The Bitcoin blockchain is used to track ownership of this digital currency.
Unfortunately, the Bitcoin blockchain is not really made for companies to build applications on.
Thereby, some scholars realized that the decentralized ledger could be used for self-executing
contracts, blockchain contracts, or digital contracts. These contracts are otherwise called «
smart contracts ».
Smart contracts are computer codes that help you exchange money, property, shares, or anything
of value in a transparent, conflict-free way while avoiding the services of a middleman.
Nowadays, the most famous implementation of smart contracts is done in the Ethereum
blockchain, and that is what we are using; it is a software that enables developers to build and
deploy decentralized applications.
Ethereum has its own digital currency known as Ether linked to it.
At Joltee, we are convinced that blockchain technology combined with smart contracts will be
the core engine and the future of car rental industry.
The blockchain technology provides a decentralized and distributed mechanism for securing and
transferring funds, and supporting the complex multi-party agreements that drives those fund
transfers through the use of smart contracts.
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What are the benefits of using Blockchain for us ?
Beyond use as a utility token for the platform, we believe that Blockchain, together with smart
contracts, can strengthen our solution by accomplishing the following:
• Secure ledger distribution between multiple players. In our business plan, there will be
interactions between users, unique or within a group, insurance companies, car renters and
other partnership companies. There is both sharing and updating of data.
• Know Your Customer (KYC). The requirement and obligation to gather information on customers
and stakeholders must mandatorily comply with the international Anti-Money Laundering Law.
This costly and time-consuming process could be well handled by distributed ledger technology
because it offers the easiest solution for making the financial transactions traceable.
• Ethereum has a mature ecosystem for distributed applications.
• Process automation, like user authentication by digital signature and traceability for insurance
purposes, will enhance the user experience by speeding up the process.
• Transparency, we share how many JOLT tokens are earned for a given score.
The immutability of the transactions saved in a blockchain and in our secured databases for all
personal data (distributed data store) assures all users and participants that their data cannot be
tampered with, their identity is managed securely, all the payment flow is handled in an optimal
way, while the overall car renting experience is improved and simplified.
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2.1 Our vision
Joltee is answering to a need of transportation by promoting electric vehicles and good driving
skills.
An innovative insurtech company proposing not only the insurance coverage but also the
electric vehicle and its services around : car sharing, leasing, charging and parking.
What ?
How ?
We reward the good drivers by giving them JOLT Tokens, which they can use to pay their vehicle
rent + insurance package. By using JOLT Tokens, users can have access to a wide range of
services including upgrades to more luxurious electric vehicles, at a discounted price.
Why ?
Because we think people deserve the best : ecology, transparency, comfort, quality and fair
prices. These are the principles Joltee promotes. We are enhancing the electric market and we
are doing it as a community.
The Beta version will be available in June 2020. Joltee will be the enabler to speed up the
development of electric infrastructures thanks to its professional network and continuous
community demands.
When ?
Chapter 2 : Joltee Overview
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2.2 Rewards system
At the end of each trip, a scoring of the skills of each user is established, in order to make
the good drivers earn JOLT Tokens. JOLT is the token that is used by the Joltee platform
stakeholders. JOLT Tokens can be used to benefit of discount on rented vehicle, to get access
to better vehicles at a very competitive price or to enjoy services from Joltee's network such as
charging stations, parking spots and other vehicles from current mobility actors.
What is the reward ?
JOLT are earned by Joltee drivers each time they drive using the app. Joltee is able to reward
the driver with JOLT Tokens using the data collected on driving behavior from IoT devices. This
reward to the best drivers is financed with the better risk profile they have according to the
insurer: the premium they should pay is lower.
How to earn JOLT Tokens ?
There are several uses of the JOLT including:
- When a driver is fulfilling his goals, he receives a proposal to upgrade his status with the
use of JOLT
- At the end of the year if half of his status goals is not reached, the user can remain
at the same status by using JOLT.
- JOLT tokens can be used to enjoy services such as charging stations, parking spots and
other vehicles from current mobility actors.
- The Joltee user can spend his JOLT on a marketplace where local products will be available
- When a member of the community wants to rent a vehicle from a private owner directly,
payment will be done in JOLT.
How can JOLT Tokens be spent ?
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Laura just joined the Joltee community: her status is blue (the lowest one). She drives a vehicle
every day to go to work. Laura is driving cautiously according to the insurer and experts criterias.
At the end of each trip she can see her performance and the JOLT earned. On the evening, when
she opens the Joltee app, she sees that the gauge related to each criteria regarding her driving
skills is getting filled out. After 9 months of daily use of the Joltee application, she receives a
notification:
"Hey well done Laura! Now you can unlock the Silver status, do you want to be upgraded ?"
Upgrading to Silver (one level higher than Blue) allows her to get a discount on the same category
of vehicle. She has also the opportunity to change to a more luxurious vehicle at a competitive
price. Laura can also use the JOLT she has collected to drive a Joltee bike and go to her favorite
local shops to buy food in JOLT.
Jack is using the Joltee application since two years. He reached the Gold status (after Silver),
but this year he did not improve enough his driving skills. At the end of the year, Jack hasn’t
reached the half of the annual objectives related to his status. If he wants to keep a gold status,
Jack will have to use JOLT or begin the holding phase. During this phase, he will have to reach
specific goals in a short given time.
All these JOLT exchanges allow building a virtuous ecosystem with a strong intrinsic value of the
JOLT token.
Examples
13
In the case of renting a car, the users have to get insured through the Joltee platform. The
process is fast and fully digitalized. The user (in the solo use mode) or the group creator (in the
group use mode) needs to provide the following information in order to conclude their insurance
policy:
• Working address;
• Estimate of the number of kilometers per year;
• Parking spot of the vehicle;
• Location of the parking spot;
• Date of birth of the driver;
• Driver licence date;
• Type of the driver licence (International permit / EU permit / extra EU permit);
• Has the permit been obtained after an accompanied driving process;
• Has the permit already been suspended? If yes, when;
• Marital status;
• Address of the user;
• Has he already been insured.
The Joltee user will then receive the terms and conditions of the insurance contract. If he
accepts the terms and conditions of the contract, he will then access to a page with the monthly
premium amount that needs to be automatically paid for the vehicle to be accessible. At anytime,
the Joltee user can stop the insurance contract. In the case of an anticipated return of the
car with a cancellation of Joltee account, conditions defined in the car renting and insurance
contracts will be applied.
2.3 Being insured for renting a car through Joltee
2.3-1 Conclusion of the insurance policy
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2.3-2 Insurance premium and group renting payment
The premium can be paid by one member of the group only.
Good options for family.
Three payments options exist:
With partnership between Insurers and Joltee, the price of the insurance contract to be paid or
Insurance Premium, is negociated.
The discount from negociations* and better risk-profile is financing JOLT Tokens for members
and cost of App development.
*Joltee GmbH is using several cost saving processes including externalisation for claims handling.
For the sake of maintaining its competitive advantage on the market, Joltee can explicit and quantify the negotiations only with a non-disclosure agreement.
It can be equally split beyond the members of the group.
Good agreements make good friends.
~65% of premiumClaims cost
~35% of premiumInsurer and customer service costof functioning
10%~40%
Rewards & Benefits
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2.3-3 Declaring a claim with the Joltee platform
If a claim occurs to a Joltee user, the declaration has to be done using the platform. First, the
user has to respond to a few questions regarding the nature of the claim. He will then be able to
follow the claim settlement process through a claim page that will be accessible within the group
or solo home page. The claim page also includes the feature to upload pictures of the claim.
The process is totally digitalized and connected in real time with Joltee partner claim management
agencies.
If the premium payment is split beyond the members of a group of n persons, then if a member
leaves the group, the other users receive a notification stating that the future premium will
be split by n-1 persons. If a new member joins a group, the other members also receive a
notification regarding the new split of the insurance premium.
If a group wants to change the way the premium is split (beyond one of the three options above
mentioned), each user of the group have to accept the new conditions through a notification they
receive.
It can be split beyond the members of the group, proportionally (or partially
proportionally) to the number of kilometers each driver has done with the Joltee
vehicle and to the driving scoring.
Pay as you drive.
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2.4 Advantages of the Joltee platform
2.4-1 Be insured, be rewarded
Current insurance companies using telematics (blackbox) are able to reward the client at best
at the end of the month. The reward is generally a marketing cost for them as they don’t have
enough metrics to find a correlation between the claims and the good driving behavior. Thanks
to its expertise and deep analyze of data collected, Joltee is able to reward at the end of each
trip. This reward is mainly coming from saving costs for the insurer: claims and functioning
costs.
From this virtuous combination, we incentivise the drivers to drive safely according to the
circumstances. Thus, Joltee provides metrics to insurance companies to reward the driver.
Thanks to our technology, the drivers are scored
on their driving ability rather than on their age. Some variables used to assess the quality of the
driver are listed in the section 3.3 Driving skills scoring calculation.
+ 25 jolt
+ 50 jolt
+ 90 jolt
+ 150 jolt
17
2.4-4 Enjoy Joltee’s ecosystem
Joltee is developing a strong ecosystem with partner companies for its users. This ecosystem
from negotiated agreements is enhancing the adoption of electric vehicles worldwide, drivers
have easily access to a set of services around their mobility experience.
Joltee users are able to use their JOLT tokens to enjoy services from electricity providers,
mobility actors and other services that will be integrated through new partnerships.
2.4-2 Make economy on the vehicle renting price
2.4-3 Get to drive high-class vehicles at discounted price
Shared use of vehicles is attractive to customers who make only occasional use of a vehicle, as
well as others who would like occasional access to a vehicle of a different type than a day-to-
day use. Group users of the Joltee platform benefit from relatively cheap renting prices, since
it is split between the members of the group.
Joltee users with the performance benefit from lower insurance premium or upmarket vehicles
at a very competitive price. By using your JOLT, you can access to more comfortable cars at a
very attractive price.
The journey to access to a high-class vehicle is as easy as driving well.
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Chapter 3 : Joltee technology
In order to rent a vehicle through the Joltee platform, our customers need to download the Joltee
Android / iOS App and go through a simple on-boarding process, which consists in verify identity,
driver license and payment method. Then, the user will have to choose between an individual or/
and a group rent.
When selecting the group leasing option, the user will see potential invitations for joining a
group created by other Joltee users, or he will have the possibility to create a new group.
When the user creates a new group, he can invite people already using the platform or send
an invitation to the people he wants to form a group with through social media or messaging
platforms.
If a new group is created, or if the Joltee user chooses the individual leasing option, he will then
have access to a catalogue of electric vehicles he can rent. He also must select the insurance
product options he prefers. If a user joins a group, he will then be linked to the same insurance
product as the co-users and will share the insurance contract with them. The vehicle can be
picked up at a partner garage or delivered at home. After what, the Joltee user can start driving
the electric car.
3.1 Functioning of the platform
19Disclaimer : All of the app's artwork are still a work in progress
3.2 The Joltee application
If he selects the solo mode, he will directly
have access to the page with his solo profile,
containing information regarding his driving
skills performance with future JOLT Tokens
earned. To use the platform, he will have to
choose a vehicle and an insurance contract.
3.2-3 Solo mode menu
3.2-2 Main menu
Once that the user has filled out the registration
form (KYC) and that his driver licence has been
verified, he will have access to the main menu
where he can choose between a solo use of the
platform, create a group or join an existing
group.
3.2-1 Login
When opening the application, the user can
enter his credentials, create an account from
email address, Facebook, Twitter or any social
media we propose.
The user has also the possibility to skip this
step in order to go directly to the solo menu
mode page and discover the features through
guided explanation.
20
Creating a group is a fast and simple process.
Select a name and a logo describing your team
beyond the proposed ones or by uploading
yours.
Choose the car and the insurance for the
group then discover who is around you and
would like to join a group or add directly your
contacts through Facebook synchronization.
That's it, your group is created and ready to be
part of the Joltee community.
3.2-5 Create a group
Disclaimer : All of the app's artwork are still a work in progress
Once the user enters the homepage of an already
existing group, he can access a calendar in
which he can book a car for a specific period:
The other users of the group will then be
notified that the vehicle will not be available
during this period and no other reservation
overlapping this period will be possible.
3.2-6 Calendar
If he selects the group user option, the user will
have access to a menu where he can choose
between three options:
-Accessing the homepage of a group he is
already member of
-Creating a new group
-Joining an already existing group in which he
has been invited
3.2-4 Group mode menu
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Through the Joltee Wallet, the user can see
how many JOLT he has, the latest operations
made with their details and how he earnt JOLT.
3.2-9 Joltee Wallet
Disclaimer : All of the app's artwork are still a work in progress
The user can also access a battle page where he
can accept or deny the challenges he received
from his team and the other Joltee users.
At each battle, each side bet with its JOLT
tokens and the one who wins takes all of them.
The ranking page shows the individual and
group performances.
3.2-8 Battle page
After each ride, the user will be notified of each
driving skill he has improved and how much
JOLT he won.
3.2-7 Ride summary
22
Selecting the car catalog on the menu, the
user sees the cars proposed with the price
associated to his status. He can also see the
price he could pay if he reaches the next status.
In this section the user can use his JOLT to
upgrade vehicle or benefit of discounted prices
on his current vehicle.
3.2-12 Car catalogue
Disclaimer : All of the app's artwork are still a work in progress
3.2-11 Statuses details
By clicking on the Statuses details on the menu,
the user reaches a page where he can see all
the statuses available. If he selects one status
he will see its driving skills details.
The JOLT can be used in our marketplace place
where you will find goods and food sold by
local producers around you.
You will have the possibility to pay with JOLT
only or mixing your country currency and JOLT.
3.2-10 Marketplace
23
Find your friends, family or colleagues at
any moment and discover Joltee neighbors
around you.
3.2-15 Add new friends to the group
Disclaimer : All of the app's artwork are still a work in progress
3.2-14 Current friends
The user has also access to a friends page in
which he can see his current friends.
A user can also give Boost coins to a member
of his group so that he reaches the minimum
performance to climb on the next status.
Group members can also see a summary of the
car and insurance taken by the group.
3.2-13 Give Boost coins to a member
24
The security and the confidentiality of the data generated by the Joltee user is our priority. Joltee
insures that these information below, and more generally all personal data of the Joltee user
are confidential. Joltee is prohibited from disclosing to any unauthorized third party, directly or
indirectly, in any manner whatsoever, all or part of these information obtained. Joltee undertakes
to take all appropriate technical and organizational measures in order to ensure the protection
of the data generated and of the personal data of the Joltee user.
Below a non exhaustive list of features used in order to assess the performance of the Joltee
user :
• The travelled distance
• How long you have been driving
• When and where you are driving
• The type of road you are taking
• Traffic conditions
• How fast you are going
• Whether you are within speed limits
• How forcefully you apply the brakes
• How you take corners
• The Average Energy Consumption;
• The Average Battery Voltage at which you are driving.
The performance of the driver will increase if he drives well and will remain stable if he does
not improve it. Users can spend JOLT according to the two different ways of renting a vehicle
within the Joltee platform.
Individually :
If the user has completed the driving skill criterias for his current status, he can upgrade to
a superior status using his JOLT or use them to get a discounted price on his next insurance
premium. If he does not, he can still use the JOLT earned in the marketplace or for other services
provided by Joltee's ecosystem.
Choosing to upgrade to a superior status will bring :
- A discount on the current rented vehicle
- Fancier vehicles at discounted price
High category of vehicle brings even more performance in daily use !
3.3 Driving skills scoring calculation
25
Shared :
- The same options as individual renting are available. The discount on the rented vehicle
is done as soon as each member of the team reaches a higher status. Members can help
others with Boost Coins.
Joltee users may also be rewarded with Boost Coins* using the Joltee platform, here are listed
few ways to reach it:
- If a user reaches the thresholds of 300 kilometers or 3'000 kilometers using a Joltee vehicle,
then he gets Boost Coins. In a group, these coins are split by the number of participants.
- If within a group, a user reaches 100 kms, he gets additional Boost Coins on his individual
account.
- Within a group, each 300 kilometers, the driver who reaches the best driving scoring gets
additional Boost Coins on his individual account.
* A coin to boost at maximum 5% of each driving criteria in order to achieve yearly goals
26
Joltee, as innovator, proposes the best price on the market for a usage based insurance company.
Transparency is our value : what you pay benefits you and the community eco-system in order
to deliver the best service at the best price.
3.4 Price and deposit
3.4-1 Where the money goes
3.4-2 Deposit management
The deposit payment is up to the renting company. If the deposit is optional, users who choose
to pay the deposit get a JOLT bonus.
10% Joltee discount
90% Cost of vehicle leasing
1% Black box and equipments setting up
7% Rewards & benefits
2% Joltee app development and enhancement
27
Chapter 4 : Token and ICO’s architecture
4.1 JOLT Token
4.1-1 JOLT Token creation
4.1-2 The JOLT value
The Joltee JOLT Token Creation Event will last for 94 days starting in the second quarter of 2020.
A fixed number of 1'500'000'000 token will be created, and no more will be created thereafter.
Half of these tokens will be allocated for the sale, all unsold tokens will be burned.
The intrinsic value of JOLT derives from two sources. The first one is its functionality within the
Joltee platform. The rewards delivered to the Joltee drivers will be paid in JOLT. All transactions
can be done in JOLT in the platform. The increasing number of users and partners can increase
the value of our JOLT Token.
The second one is the value of the data collected through the Joltee platform. The anonymized
data will be sold to ecosystem partners, insurers and car dealers against payments in JOLT. The
importance of data regarding driving habits is extremely high for insurers, who need to better
understand the underlying risk they insure clients against in order to better adjust
their pricing models. If a premium is underestimated, the expected benefit on an insurance
contract may be negative. This would deteriorate the financial results of the company. On the
other hand, if the premium is overestimated, the client will very likely find a better price with an
other insurance company, which may deteriorate both the turnover and the financial result of
the company. Over time, the quantity of data collected through the Joltee platform will increase.
Thus, the statistics derived from the database regarding driving habits will become more and
more reliable, and their value for insurers will increase. This would imply an increase of the
value of the JOLT token.
28
4.1-3 Token allocation
It is important for us that the community understands how the funds from the Token Sale will be
spent:
Finance the development of the Platform 40%
Finance marketing 30%
Operational expenses 15%
International expansion 15%
Develop a Platform
This technology will be the backbone for an efficient next generation vehicle renting and
sharing. Team will be ramped up with focused resources for all required areas. This will
lead to an accelerated enhancement of the platform and dedicated tools to scale up the
operations cost effectively and securely.
Finance marketing and sale campaign
Joltee will keep running its marketing and sale campaign in order to acquire visibility on the
market.
These will include but not be limited to ad campaigns, branding and brand awareness, public
relations and social media campaigns.
International Expansion
In order to expand successfully, our team will need to make the platform available in different
countries, integrating new business partners and new country-specific services.
Financing operational expenses
The funds will be used to cover the costs of our day-to-day operations.
This includes but is not limited to the outset costs, the human resources costs like hiring
high qualified specialists and office expenses.
29
4.1-4 Acquiring tokens
Token distribution
The exact number of JOLT Tokens to be received by a contributor will depend on the day the
contribution has been made during the Token Sale as determined by the JOLT Token allocation
mechanism below:
JOLT distribution
12:00am UTC on Day 44
-
12:00:01am UTC on Day 30
1 EUR = 25 JOLT + 10% Bonus
12:00am UTC on Day 29
-
12:00:01am UTC on Day 15
1 EUR = 25 JOLT + 15% Bonus
12am UTC on Day 14
-
12 am UTC on Day 1
1 EUR = 25 JOLT + 20% Bonus
Token SaleQ2 2020
Token listingQ3 2020
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4.1-5 Token Sale and Distribution Roadmap
Token Distribution
750'000'000 JOLT to be
acquired by the public
during Joltee's token
sale (both pre-token sale
and main token sale ).
There is a fundraising
cap of 20 Million EUR.
An incentive to founders
and employees to ensure
long-term alignment
and commitment to the
project and its future
value.
450'000'000 JOLT will
be distributed by Joltee
to the founders and
employees.
Reserving for Token Sale
Reserving for the team (30%)
Reserving for the ecosystem (15%) Reserving for partners & advisors (5%)225'000'000 JOLT will be held
in reserve for the ecosystem
development.
This includes Bounty program,
Sponsoring program and Initiatives
to reward community members
who will contribute to expand the
platform and create services or
products which help users.
75'000'000 JOLT will be held
in reserve by Joltee in order to
help the future partnership with
insurance companies and mobility
actors.
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4.1-6 Token Summary
Project description
Ticker symbol
Token background
Token Sale date
JOLT token price
Hard Cap
Total Supply
Accepted currencies for tokens
Soft Cap
Total percentage of all JOLT for token sale
The next generation electric vehicle renting and sharing platform
JOLT
JOLT is built as an ERC-20 token on the Ethereum Blockchain
Q2 2020 or until the cap is reached.
1 JOLT = 0.04 EUR
€ 20 Million
750'000'000 JOLT tokens are allocated to the Token Sale
ETH, BTC, EUR, CHF
If less than the equivalent of € 500'000 in proceeds have been
received by the Token Sale End Date the "Minimum Raise".
50%
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4.2 JOLT smart contract
Proof of identity Transfer JOLT
Client wallet
Insurance wallet
Car renter wallet
Car insurancepayment
Usage Table
Car renterpayment
Usage Table
Car rentingdeposit
Usage Table
Car usingecosystem
payment
Usage Table
Car sharing
Car rentingpayment
Usage Table
Driving scoringpoints
Conversion Usage Table
Usage Table
Joltee wallet
Identity contract
Identity contract
Identity contract
Identity contract
Mutual AuthenticationEncrypted Link
KYC
Public token exchange
Private Ethereum Blockchain
InterledgerToken transfer
Protocol network
Car manufacturer wallet
Ecosystem wallet
JOLTERC 20
ContractPublic Ethereum Blockchain
JOLTERC 20
sidechainContract
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4.3 Development timeline
Q3 2020 Individual rentingGroup rentingPrivate station sharingPublic station booking
Q4 2020 Free floating Carpooling on the roadProfessional drivers onboarding
Q1 2021 Private car sharingPrivate car sublease
Q2 2021 Bikes, scooters and solowheels onboarding
Q1 2022 Autonomous car group renting
Q4 2021 Interactive windshield
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The founders
The community starts with :
Coordinator of Joltee, with strong capacity to perform Research&Development both in data science and in the actuarial field. Soundar graduated in mathematics at Paris Dauphine School a PSL University among Ecole Normale Superieure and Mines ParisTech. He started his career at Generali, a major insurance company, as actuary. He integrated to business the Vitality program which is the first
program launched by a European insurance company to reward clients based on their sport activities through IoT. Soundar was promoted to the Group Head Office as team leader in the Data Analytics Task Force, from where he helped Generali companies worldwide in developing data analytics tools. Churn modelling, fraud potential scoring, data collected through telematics devices analysis and image analytics with neural networks are under his scope. He is passionate about electric sport cars, motorcycle and tea, mainly the Chaï tea.
Soundar Adavane - CEO and co-founder of Joltee
High-level expert in Machine Learning, Graduated in Mathematics at Paris Dauphine. Associate and Head of Data science of the French branch at Hadrian Advisors, an innovative company specialized in artificial intelligence applied to financial and insurance markets. Cedric has a full
knowledge of deep learning, topology and big data techniques applied to Finance and Insurance areas. He has managed portfolios over 50 Millions € in commodities market by implementing advanced algorithms. As a machine learning expert, he is leading the development of Joltee core model to reward the clients. He is passionate about philosophy, social problematics and saxophone.
Cedric Mavoungou - Head of A.I. - Deep learning expert and co-founder - A.I. specialist
Senior legal counsel expert specialized in IP/IT/data protection topics. His passion for innovation started at the Social Factory Incubator, which has a partnership with Google Impact Challenge, where Thomas provided legal advisory to start-ups regarding social and ecological issues. In the insurance area, he provided legal support to an Employee Wellness
Program. Thanks to this experience, he knows how to structure the Joltee reward program and how to legally protect customer's data privacy. Thomas is providing legal advisory to vente-privee.com, a private online retailer, where he brings a strong legal framework to the company partners. He is passionate about wine testing and Depardieu’s movies.
Thomas Miconnet - Legal and GDPR compliance officer - co-founder of Joltee
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Full-stack developer graduated from EPITECH and SUPINFO (The International Institute of Information Technology). Florent has acquired over 7 years of experience in development. He is leading Joltee's website development for the ICO and has created with Cedric the smart contracts. He has developed his passion for work efficiency and skills in
Agile at CapGemini and Wemanity with Arie Van Bennekum, co-author of the Agile manifesto. He has acquired strong development competence level and customer requirements understanding efficiency thanks to his previous experiences in many top 40 french companies especially in energy sector : GRDF, Enedis and Total. Joltee is leveraging from his experience to build strong partnership with a clear vision of the opportunities. Passionate about Web development and Agile methods, he loves cars, motorcycle and sports.
Florent Sejour - Application development leader - co-founder of Joltee
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The Initial Coin Offering (thereafter, the ICO), presented in this Whitepaper by Joltee GmbH,
incorporated under the laws of Switzerland, duly represented for the purposes hereof by its
President Soundar Adavane, is an unregulated fundraising operation. It poses several risks
to buyers. Indeed, ICO participations can be considered high-risk operation. The acquisition
of Joltee Tokens through this ICO may result in significant losses or even in a total loss of all
funds invested.
This Whitepaper shall not and cannot be considered as an invitation or inducement to engage
in any sort of investment activity. It does not constitute or relate in any way nor should be
considered as an offering of securities in any jurisdiction.
Prospective acquirers of JOLT Tokens should carefully consider and evaluate all risks and
uncertainties associated with the cryptocurrencies, the blockchain-based systems, the Joltee
Tokens and the Joltee ICO. Familiarize yourself with all the information set out in this Whitepaper
prior to any purchase of JOLT tokens. Plus, the buyers of the token should understand the specific
network and the tokens it is offering. We recommend that you seek out independent financial
advice before engaging in any sort of business endeavor By using the ICO smart contract for
Joltee, Joltee.co website or app including but not limited to the transferring assets to Joltee,
you confirm that you undertake and understand all the possible risks that directly or indirectly
arise with purchasing, holding, and using JOLT Tokens in connection with Joltee services, as
disclosed and explained in the present document. If you have any questions regarding the
Whitepaper or any subject relating to the Joltee ICO, please contact us at [email protected].
Legal Disclaimer
Joltee specifically disclaims liability for incidental or consequential damages and assumes
no responsibility or liability for any loss or damage suffered by any person as a result of the
use or misuse of any of the information or content in this Whitepaper or on the website. Joltee
assumes or undertakes no liability for any loss or damage suffered as a result of the use,
misuse or reliance on the information and content in this Whitepaper or on the website. All of
the information provided within this Whitepaper is provided with no warranties. No express or
implied warranties of any type, including implied warranties of merchantability for a particular
purpose, are made with respect to the information, or any use of the information, on this site
or platform. Joltee makes no representations and extends no warranties of any type as to the
accuracy or completeness of any information or content in this Whitepaper or regarding this
platform.
Disclaimer of Liability
37
This Whitepaper, any part or any copy must not be taken or transmitted to any country where
distribution or dissemination of token sale or ICO like the one described in the present document
is prohibited or restricted.
You are not eligible and you are not to purchase any JOLT Token in the present ICO, as referred
to in this Whitepaper, if you are a citizen, resident or green card
holder of the United States of America or a resident of the People's Republic of China or South
Korea. JOLT Tokens are also no being offered or distributed to you if you are a citizen, resident,
or a person located or domiciled in any country under USA embargoes and sanctions are in force,
namely : Iran, Irak, Lybia, North Korea, Syria, South Sudan or Cuba etc. Lastly, you undertake
not being a terrorist or a politically exposed person. By howsoever accessing and/or accepting
possession or communication of all or any part of the information in the Whitepaper and the
website, you represent and warrant (and shall be deemed to represent and warrant) to Joltee as
follows:(i) you have read carefully the terms of the Whitepaper and you have agree with the full contents and accept to be legally bound by them; (ii) you are authorized and have full power to purchase JOLT Tokens according to thelaws that apply in their jurisdiction of domicile; (iii) you agree and acknowledge that the JOLT Tokens do not constitute shares or equities or securities or financial instruments or investments in any form in any jurisdiction; (iv) you agree and acknowledge that the Whitepaper and the Website does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer of securities in any jurisdiction or a solicitation for investment in securities and you are not bound to enter into any contract or binding legal commitment and no cryptocurrency or other form of payment is to be accepted on the basis of the present document and the website ;(v) you agree and acknowledge that no regulatory authority has examined or approved of the Whitepaper, no action has been or will be taken under the laws, regulatory requirements or rules of any jurisdiction;(vi) the distribution or dissemination of the information in the Whitepaper and/or in the website or any copy thereof, or acceptance of the same by you, is not prohibited or restricted by the applicable laws, regulations or rules in your jurisdiction, and where any restrictions in relation to possession are applicable, you have observed and complied with all such restrictions at yourown expense and without liability to Joltee;
Representation and Warranties
To conclude and summarize, Joltee expressly disclaims any and all responsibility for any direct
or consequential loss or damage of any kind whatsoever arising directly or indirectly from:
(i) reliance on any information & contained in this document, (ii) any error, omission or inaccuracy
in any such information, (iii) any action resulting therefrom, or (iv) usage or acquisition of
products, available through the website.
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The security and the confidentiality of your personal data collected by Joltee during the ICO is our priority. JOLTEE ensures that your information are confidential.
Indeed, the necessary processing of your personal data in order to participate to the ICO is compliant with the General Data Protection Regulation (thereafter the “GDPR”).
For your information, on May 25, 2018, with the entry into application of the GDPR, there is one set of data protection rules for all companies operating in the EU, wherever they are based. This regulation is designed to enable individuals to better control their personal data.
For more information concerning this subject, please find the JOLTEE Privacy Policy . In particular, this document specifies: -The identity and the contact detail of Joltee (as a data controller) and DPO; -The list of the personal data collected; -The legal basis; -The purposes of the processing for which personal data are intended; -The existence of the right to access, rectify or erase the personal data; -The right of data portability;-The right to lodge a complaint to a supervisory authority.
Protection of Personal Data
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The Whitepaper and the Joltee ICO shall be exclusively governed by and constructed in accordance with Switzerland law. The Parties agree to seek an amicable settlement prior to bringing any legal action. All disputes arising out of or in connection with the validity, performance, non-performance or termination of the Whitepaper and/or the ICO shall be submitted to the rules of Mediation.The seat of the Mediation shall be in Zurich, Switzerland. Failure of the Parties to reach a solution with the Mediation, the present Whitepaper shall be submitted to the jurisdiction of the Zurich Commercial Court, Switzerland.
Governing Law
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Advisors
Digital security aims to help companies continuously improving the way they protect their information and support them in securing their digital transformation. Digital Security is working with the French government in order to deploy a blockchain at national level.
Renaud Lifchitz is a Senior Consultant, Researcher and Trainer in IS & IoT Security, Member of ARCSI Certified Blockchain Expert, Certified Ethereum Expert (CEE), CEH (Certified Ethical Hacker), CEI (Certified EC-Council Instructor), CHFI (Computer Hacking Forensic Investigator), ECSA (EC-Council's Certified Security Analyst) and LPT (Licensed Penetration Tester)
Digital Security secures Joltee’s ICO with solid references: +12 Blockchain projects in 2017-2018 on banking, energy, logistic and marketing sectors. The company audited and certified the security of Joltee’s architecture to be GDPR, KYC, and AML compliant.
Renaud Lifchitz - Digital Security, security expert
Marie-Joseph Malé is graduated from École Polytechnique (Paris), École Nationale des Ponts et Chaussées and Massachusetts Institute of Technology (M.I.T.). First SkyTeam Airline Alliance Management General Director and board member of Air France.
Marie Joseph Malé provides his expertise in customer retention and reward models thanks to his involvement in FlyingBlue.
Tierno is one of the team members at the Garage, the Europe’s largest blockchain incubator, Tierno is helping Joltee’s founders to develop a reliable and strong blockchain integration in their business model.
Aside, Tierno is a venture capitalist at Starchain Capital where he supervised a 12+ blockchain investments (amongst them the SF-based
unicorn Coinbase) and helps Joltee with its investor relations.
Marie-Joseph Malé - CEO of Air Austral and Ex-Director of Skyteam
Tierno Tall - Blockchain Investment Lead at The Garage
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Arie is a pragmatic who embeds his pragmatism in structure, discipline & common sense from his early days in the health care and the military forces up to where he is today. This led to being one of the authors of the Agile Manifesto.
Over the years Arie has become an expert on Agile transformations. Next to this work in Agile and Agile transformations Arie lectured 20 years at the Rotterdam University on topics such as Agile, project management and Facilitation.
His IP is to be found at www.integratedagile.com
Arie Van Bennekum - Founder of AGILE Manifesto
Member of the Executive committee of the Verspieren GroupDirector of the insurance branch of individuals, affinity and specialtiesGeneral manager of Verspieren Smart up, private for Start Up of Insurtech (100% subsidiary of Verspieren)
Jerome graduated from the EM Normandie in major HEC Entrepreneurs and graduated in RiskManagement (ARM54-55-56). He has 15 years of professional activity in the insurance brokerage and is a member of the management of Verspieren since 2010. Jérôme has been driving the company’s digital transformation since 2016.
Jerome is also on advisory board of various startups including Hello Garage, Gestbail, Lecourtierfrançais and One2team.
« JOLTEE is an exciting, ambitious and revolutionary project. Soundar and his team are going todisrupt international market of mobility »
Jérôme Laumonier - Managing Director of Verspieren Smart Up & Director of Personal, Affinity and Specialties.
Hadrian Advisors is an Artificial Intelligence firm specialized in predictive analysis. Their team of data scientists and mathematicians has developed over the years a library of proprietary algorithms tailored to the prediction of time-varying dynamic systems in addition to the use of state of the art open source algorithms. In the last four years, they have deployed their algorithms on problematics such as customer
profiling, asset management, churn, fraud, outlier detection, and geolocalization data. Hadrian
Xavier de Bernede - CEO of Hadrian Advisors
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Jean-Christophe Conticello is the Founder & CEO of WeNation, European Innovation Ecosystem, and Wemanity, the European leader in Agile Transformations. He loves sharing his vision of tomorrow's leadership and new ways of working. His dream? Help creating a world in which the vast majority of people go home every day feeling fulfilled by their work. Therefore, he continuously challenges inertia and strongly believes cooperation is the key to the Future and to unleash people's
potential.Jean Christophe Conticello is also jury member of the CAC40 trophies awarded to top 40 biggest companies in France that have successfully onboarded digital.
Jean-Christophe Conticello - CEO of Wemanity
Advisor is also member of the Hypercube Institute that promotes the use of deep learning in medical research.Prior to the creation of Hadrian Advisors, Xavier was president and founder of Gaia Conseil SA a risk management and consulting firm (2000-2010), co-founder of Foundation Capital Strategies in Bermuda (1998-2007), an investment management Company where he ran a 500M + USD quantitative hedge fund (the ANOVA fund).
From 1994 to 1998 he was a senior equity trader for a Ross Capital Markets a Bermuda Based Hedge fund. Xavier has a Bachelor of Business from the University of Texas at Austin, a Master of Economics and Finance from Université Paris Dauphine and a Data Science degree from Harvard.
"Joltee is one step ahead of the curve by bridging a mobility platform and the insurance 2.0 world via blockchain and A.I. technologies. We are proud to bring the A.I. brick into the fold!"
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Partners
Google is supporting the Joltee project by staffing full time engineers for the development of the Joltee platform. Joltee benefits from discounts on Google maps API, waze and Google tools (cloud storage solution, machine learning tools etc.). Google will provide a Hardware Security Module for protecting users wallet private key. Google will also publish an one-page document explaining how Google supports the development of Joltee.
Joltee is proud to be part of the Google start-up program.
Inwebo is a company specialized in security for IoT with Remote authentication and Local Authorization. With many years of experience with top 40 companies in France, the company provides solutions for guaranteeing the security of telematics devices.
With Inwebo, Joltee will manage securely the connection between users’ smartphone and the vehicles. Inwebo will provide also a Hardware Security Module for protecting users’ private keys for unlocking the vehicles.
Inwebo
Generali is a multinational group insurance company in almost 60 countries, with more than 400 companies and nearly 71,000 employees one of the world largest company. With 57 million customers, 68 billion Euro in premiums and 542 billion Euro in asset management Generali is the 3rd biggest insurance company in Europe and in the Top 10 worldwide.
Generali is building a tailor made insurance product to cover the use of any electric vehicles within Joltee’s platform.
Generali is supporting Joltee, as exclusive insurance partner, also in the international development to scale up for a worldwide solution.
Generali
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Digital Security is part of Econocom group company. The company is specialised in auditing of IT infrastructure and blockchain protocols. Digital Security is also supporting ICO fund raising processes by proposing WhitePaper review, blockchain audit and validation of the Token Economy created from business models in order to target both public and private funds.
Digital Security is certifying and auditing our blockchain-based architecture for security and efficiency purposes. Joltee’s ICO smart contract development is supervised with the security team of Digital Security. Joltee is supported in Whitepaper review and validation to present to private and public investors.
Digital Security
Hadrian Advisors is an Artificial Intelligence firm specialized in predictive analysis. Their team of data scientists and mathematicians has developed over the years a library of proprietary algorithms tailored to the prediction of time-varying dynamic systems in addition to the use of state of the art open source algorithms.
In the last four years, they have deployed their algorithms on problematics such as customer profiling, asset management, churn, fraud, outlier detection, and geolocalization data. Hadrian Advisor is also member of the Hypercube Institute that promotes the use of deep learning in medical research.
Hadrian Advisors participates in the development of the Joltee’s A.I. model to reward users.
Switzerland stands for trust, neutrality and security. With its long standing positioning to offer security and safety for international exchange. Swisscom Blockchain (SCBC) is leveraging this mindset to export the brand of trust in a technology that is bringing organisations and entire industries together.
With competitors coming together, SCBC offers services ranging from tier 4 banking infrastructure to keep digital custody of information, records and tokens safe. Their teams work with agility and speed, focusing on delivering impactful solutions to the market that nurture the adoption of blockchain as a disruptive.
SCBC assists Joltee on the KYC procedures and monitors the JOLT tokens sales through its dedicated Token Launchpad for Joltee
Hadrian Advisors
Swisscom Blockchain
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The largest provider of full-service advisory to blockchain businesses, Amazix has begun its operations in mid-2017, the company is now a global enterprise, and has worked with over 120 vetted blockchain projects that have raised over $1.3 billion collectively, including the likes of Bancor ($153M TGE), HDAC ($258M TGE), Bankex ($71M TGE), WePower, GoChain and Babb that have raised $1.3Bn+ collectively.
Amazix has earned an unparalleled reputation in the industry built on trust, expertise, ethics and consistently over-delivering for clients.
Amazix is handling the marketing and public relation strategy of Joltee, helping the founders in delivering the right speech to the right audience and leveraging from its network to build up a strong community.
Amazix
SINOPTI COURTAGE is an Insurance Broker specialized in commercial risks. It's dedicated organisation assists JOLTEE in analyzing our needs and implementing tailor-made solutions for electric vehicles insurance, with the objective to streamline and optimise the flow of information by building more efficient digital systems on insurance topics.
Sinopti Courtage
Motivated to facilitate long trips with electric vehicles, EP Tender is developing a battery Tender with a capacity of 36.5kWh. The development of the machines and services, is backed by the expertise of the local companies ecosystem.
EP Tender and Joltee are working together to provide a BAAS (Battery As A Service) to Joltee clients.
EP Tender
Based on artificial Intelligence algorithms, Expert System’s cognitive technology Cogito applies human-like comprehension to make sense of big data and unstructured information such as documents, news and articles, research reports, customer interactions and emails.
Joltee is integrating Expert System RPA technology to automatize Subscription and Claim handling process. Thanks to this technical partnership, Joltee provides a fully digitalized insurance solution.
Expert System
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Corporations
The association of french startups in the automotive sector. Tomorrow's mobility is being invented today, through solutions that combine a well-established automotive tradition in France with innovative business models. The French actors have everything to position themselves among the best: France AutoTech is here to support this movement. The association France AutoTech is gathering innovative start-ups around
mobility and is supported by La FrenchTech.
Joltee develops synergies between members, within the "autotech" ecosystem, to offer ever more comprehensive services to motorists.
France AutoTech by La FrenchTech
AVERE (The European Association for Electromobility) is the European association that promotes electromobility and sustainable transport across Europe. Their Members consist of National Associations supporting and encouraging the use of Electric Vehicles and electromobility across Europe. AVERE is the only European association
representing and advocating for electromobility on behalf of industry, academia, and EV users at both EU and national levels.
Joltee and AVERE are exchanging knowledge, experience, and ideas on how to stimulate electromobility throughout Europe. Joltee is proud to participe events such as EVS32 in May, 2019.
AVERE
