Insurtech: Cover Whale Insurance Solutions Announces Next Phase of Signature Claims Prevention Program

Cover Whale Insurance Solutions, Inc., a commercial trucking insurance provider and fast-growing insurtech, announces the next phase of its Driver Safety Program, the company’s signature loss prevention initiative, “proven to reduce the frequency and severity of claims and improve road safety for America’s truckers and motorists.”

Strategic partnerships with telematics and dash cam providers NexarNetradyne, and Orion Fleet Intelligence, “including its ongoing partnership with Waylens — combine to further strengthen its data collection and machine-learning capabilities.”

These enhancements “continue to bolster the company’s ability to accurately price risk and offer discounts to its safest policyholders.”

To helm the endeavor, Cover Whale recently “welcomed Tony Beirne to its executive team as Chief Data Officer and Chief Actuary to up-level the company’s innovative and proprietary risk assessment approach.”

As a testament to the Driver Safety Program’s success, and “to continue encouraging safe driving practices, Cover Whale now offers a Safe Driver Discount of up to 15% in support of its safest policyholders when they renew their auto liability policy.”

Cover Whale’s Driver Safety Program is “at the heart of the company’s achievements within the industry.” It aims “to make roads safer for America’s professional drivers and for those with whom they share the road.”

The program “consists of three components that work together to help assess and address risk: cameras, coaching and coverage.”

The dashcams and associated telematics “capture certain unsafe driving events, such as speeding, hard turning, and thousands of other data points, while providing important AI-driven situational context to the data.”

Based on that data, Cover Whale also “sends coaching communications to drivers to positively reinforce safe driving practices, reduce unsafe driving events and help them avoid claims in the future.”

Dash cam footage can also “support claims settlement, including protecting and exonerating drivers in the event of an accident if they are not at fault.” Most importantly, the data “enables Cover Whale to offer the most competitive insurance rates in the trucking industry and keep drivers on the road earning, all while maintaining sub-60 loss ratios.”

Dan Abrahamsen, CEO of Cover Whale, said:

“Our Driver Safety Program and its integrated components have proven effective at improving the safe driving of our policyholders while enabling us to manage industry-leading loss ratios. When it comes to road safety, we’ll never be satisfied. Making America’s roads safer is a never-ending pursuit for Cover Whale.”

Cover Whale’s CEO and members of its leadership team “have been selected to speak on panels at upcoming industry conferences to discuss the Driver Safety Program and telematics in insurance.”

The company is “presenting at the Reuters Insurance AI and Innovative Tech (April 12-13), Insurance Innovators (April 17-18) and Digital Insurance Summit (May 1-2).”

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