It seems geometrically obvious to me that the centre for such a circle must be the origin. Thus, we are trying to find the closest point from the origin to the two curves. The curves can be parameterised by $(x, \pm e^{-x^2})$, which yields a parameterised square distance,
$$f(x) = x^2 + e^{-2x^2}$$
Differentiating,
$$f'(x) = 2x - 4xe^{-2x^2}.$$
This comes to $0$ when $x = 0$ or $e^{-2x^2} = 1/2$, that is, when $x = \pm \sqrt{\log(2)} / \sqrt{2}$. Clearly, as $x \to \pm\infty$, the distance approaches infinity. So, the minimum must occur at one of our critical points. Checking, we get,
\begin{align*}
f(0) &= 1 \\
f\left(\pm \frac{\sqrt{\log(2)}}{\sqrt{2}}\right) &= \frac{\log(2)}{2} + e^{-2\frac{\log(2)}{2}} = \frac{\log(2) + 1}{2} < 1.
\end{align*}
Thus, the radius of the largest inscribed circle is
$$\sqrt{\frac{\log(2) + 1}{2}}.$$
EDIT: Since none of the answers are dealing with it, and certain doubts have been expressed, I thought I'd deal with the centre having to be $(0, 0)$.
Essentially, the property needed here is orthogonal convexity of the region bounded by the two curves. Note that a region bounded by any two graphs of functions is always vertically convex, by the nature of functions; a failure to be vertically convex would violate the vertical line test.
For horizontal convexity, take two points $(x_1, y), (x_2, y)$ in the region. If $y = 0$, then clearly $\lambda(x_1, y) + (1 - \lambda)(x_2, y)$ lies on the $x$-axis and hence is in the region, so assume $y \neq 0$. By symmetry, without loss of generality, we may assume $y > 0$, thus we only need worry about the curve $y = e^{-x^2}$.
Since $(x_1, y), (x_2, y)$ are in the region, but above the $x$-axis, it follows that $y < e^{-x_1^2}$ and $y < e^{-x_2^2}$. Since $e^{-x^2}$ is decreasing for $x \ge 0$ and increasing for $x \le 0$, it follows by cases that
$$y < \min \left\lbrace e^{-x_1^2}, e^{-x_2^2}\right\rbrace \le e^{-(\lambda x_1 + (1 - \lambda)x_2)^2}$$
for $\lambda \in [0, 1]$. Thus, we have orthogonal convexity.
How does this help us? Suppose we have another point $(x, y)$ centering a largest inscribed circle in the region. If $y \neq 0$, then $(x, -y)$ does as well, by symmetry. By vertical convexity, $(x, 0)$ will do the same; just picture the vertical convex hull of the two balls and realise it contains the same circle centred at $(x, 0)$. Similarly, by horizontal convexity, $(0, 0)$ will host a largest inscribed circle.
As I said in the comments, this can be proven a bit more thoroughly, but this is the geometric intuition here.