NEW YORK — Commercial trucking insurance provider Cover Whale Insurance Solutions Inc. has begun a new loss prevention initiative.
According to a news release, the Driver Safety Program is “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 Nexar, Netradyne and Orion Fleet Intelligence, including its ongoing partnership with Waylens, combine to further strengthen its data collection and machine-learning capabilities,” the news release stated. “These enhancements continue to bolster the company’s ability to accurately price risk and offer discounts to its safest policyholders.”
Cover Whale recently welcomed Tony Beirne to its executive team as chief data officer and chief actuary to lead the initiative.
“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,” the news release stated.
Cover Whale officials say their 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.
“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,” said Dan Abrahamsen, CEO of Cover Whale. “When it comes to road safety, we’ll never be satisfied. Making America’s roads safer is a never-ending pursuit for Cover Whale.”
Abrahamsen and members of Cover Whale’s 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).
The Trucker News Staff produces engaging content for not only TheTrucker.com, but also The Trucker Newspaper, which has been serving the trucking industry for more than 30 years. With a focus on drivers, the Trucker News Staff aims to provide relevant, objective content pertaining to the trucking segment of the transportation industry. The Trucker News Staff is based in Little Rock, Arkansas.
