Under the tie-up, Cover Whale will leverage Swiss Re’s telematics and analytics capabilities to augment its risk predictions for auto accidents based on granular data and detailed accident statistics from several sources.
This is expected to help the firms develop models that predict the relative level of accident frequency and severity between different areas and segments.
Swiss Re’s Motor Market Analyzer is a proprietary predictive model that facilities high-resolution risk predictions of auto accidents.
The model is developed on a deep pool of data consisting of police accident reports, road networks, weather patterns, elevation, land use and more.
Cover Whale CEO Dan Abrahamsen said: “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.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
“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.”
Swiss Re head of P&C Analytics Americas Duare Perez said: “This is a powerful example of how advanced risk prediction tools can dramatically improve insurance protection.
“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.”
Last year, Cover Whale partnered with Everspan Indemnity Insurance Company, an excess and surplus lines insurer, to offer a Commercial Trucking Programme.