InsurTech Broker Cover Whale Expands to Fleet Insurance Market

Founded to address the underserved sole-to-small commercial vehicle owner, Cover Whale’s process improvements created demand among large fleet owners, which its new programs are designed to address.

(Image source: Cover Whale home page)

Cover Whale (Rancho Santa Margarita, Calif.), an InsurTech Broker founded by insurance and technology veterans, has expanded truck insurance products with the launch of a new fleet insurance program. Cover Whale reports that it is offering Fleet Physical Damage and Motor Truck Cargo beginning Jan. 1, 2021, providing services through a select group of insurance brokers.

“Fleet managers and select insurance brokers will have access to our proprietary fleet platform,” comments Dan Abrahamsen, CEO, Cover Whale . “With Cover Whale’s simple submission process, same day services, and competitive rates, they can be assured their time and risk are well-managed.

Cover Whale was founded in 2018 to address the needs of the underserved of sole-to-small commercial vehicle owners, serving operations with one to nine vehicles. The company also sought to apply technology to solving some of the market’s providers’ weakness, such as long turnaround times for quotes endorsements and binders. A company source says Cover Whale’s success in meeting the needs of non-fleet clients spread by word of mouth, and they began getting request from fleet owners.

Answering Strong Demand

“We’ve reduced the turn-around time for quotes and endorsements by days, which is an enormous benefit for brokers and insureds,” adds Jason Wexler, Chief Underwriting Officer. “We’re proud that our launch in the small account space has been extremely successful leading to strong demand for us to enter the fleet segment.”

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Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803.

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