New York, NY (July 19, 2022) – Cover Whale Insurance Solutions, Inc., a leading InsurTech for commercial auto insurance, is pleased to announce it is using Swiss Re’s Motor Market Analyzer to further enhance its product offerings to customers.
Cover Whale’s mission is to help make roads safer and save lives using data and advanced, proprietary technology. Tapping into Swiss Re’s telematics and analytics expertise, Cover Whale will enhance its risk predictions for auto accidents based on highly granular data and detailed accident statistics from various sources. Ultimately, this will help to develop models which predict the relative level of accident frequency and severity between different areas and segments.
“The collaboration with Swiss Re will allow us to double down on why we do what we do: reduce accidents, keep our roads safe and help save lives,” said Dan Abrahamsen, CEO of Cover Whale. “In the evolving auto insurance industry, using technology and data to ensure and ‘insure’ our customers with added support will always remain a top priority on our agenda. We look forward to expanding our valued relationship with Swiss Re in this area.”
Motor Market Analyzer is a proprietary predictive model, which provides high resolution risk predictions of auto accidents. The model is developed on a deep pool of data including police accident reports, road networks, weather patterns, elevation, land use and more.
“This is a powerful example of how advanced risk prediction tools can dramatically improve insurance protection,” said Duare Perez, Head of P&C Analytics Americas at Swiss Re. “We’ve seen Cover Whale make significant progress using technology to increase speed, efficiency and affordability, and we’re thrilled to team up with them as they seek to further support their customers.”
About Cover Whale
Cover Whale, an InsurTech founded by experienced insurance and technology veterans, focuses on underwriting, technology, and data to launch innovative insurance programs. Cover Whale provides the most agent-friendly platform online, providing a simple solution for fast insurance quotes. Products are available exclusively through CoverWhale.com, with capacity from multiple leading insurance markets.
About Swiss Re
The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally. For more information, please visit www.swissre.com.
SOURCE: Cover WhaleTags: Auto Claims, auto insurance, commercial lines, InsurTech, Swiss Re