(Image credit: Robson Hatsukami Morgan/Unsplash.)
Cover Whale Insurance Solutions, Inc. (New York), a commercial trucking InsurTech distributor, has announced a partnership with IPFS Corporation (IPFS), a Kansas City, Mo.-based premium finance company, aiming to provide insurance agents to provide greater access to Cover Whale commercial trucking insurance to their owner-operator and small-fleet clients.
“This is a great partnership for us because as we continue our rapid growth, our agents are seeing the need for more premium finance capacity and choice,” comments Dan Abrahamsen, CEO, Cover Whale. “IPFS is an industry leader not just in its premium finance capabilities but also in the technology that supports it. They are an efficient and effective partner that embodies what we value most, speed. A lot of time and waste is going to be taken out of the premium financing process for all parties involved, which is invaluable to our business.”
As a result of the partnership Cover Whale and IPFS together deliver an enhanced premium finance platform for agents and policyholders, according to the Cover Whale announcement. The statement from Cover Whale says this includes greater financing capacity that accelerates the growth of Cover Whale’s book of business, customizable financing terms for drivers and fleet owners, and IPFS’s industry-leading servicing for all parties involved.
Quality Deal Flow
“We’re already seeing quality deal flow from Cover Whale’s base of agents,” comments Brian Fugere, Chief Growth Officer, IPFS. “Cover Whale’s goal of creating a best-in-class commercial auto insurance experience for agents and drivers alike aligns well with our mission of promoting excellence throughout the property and casualty ecosystem. By partnering with IPFS, Cover Whale will benefit from our investment in developing technology and pursuing continued innovation in the insurance industry.”