Leading Insurtech for Commercial Auto Insurance Announces Groundbreaking Milestone as Testament to its Ongoing Innovation and Positive Industry Response
NEW YORK, July 14, 2022 /PRNewswire/ — Cover Whale, an insurtech focused on the commercial auto space, today announced reaching $100 million in insurance premium in the first half of the year. This growth far outpaces competitors within its industry class. Leading a new vision for the insurtech industry, the company owes this milestone to its ongoing technological innovation, a distinct business model focused on controlling for loss ratios, and efficient client and partner services.
“We’re thrilled to reach $100 million in year-to-date premium and continue our upward, fast-paced, and industry-leading exponential growth,” said Dan Abrahamsen, CEO of Cover Whale. “Since our founding, we have experienced rapid growth, but never at the expense of underwriting profitability. I can’t thank my team enough for working hard to get us here, and I look forward to the next chapter at Cover Whale.”
“Reaching this monumental milestone in such a short period shows that we’re determined to continue changing and disrupting the insurance landscape,” said Kevin Abramson, President of Cover Whale. “We’re committed to delivering our technology and capabilities to as many insureds as possible to make our roads and world a safer place. InsurTech 2.0 is about leveraging technology to create efficiencies and more precisely price the upfront exposures as well as actively underwriting and monitoring in real-time, 365 days a year.”
Beyond premium growth, Cover Whale is expanding its capabilities and footprint. They recently began offering admitted products in Georgia and Florida, with North Carolina, South Carolina, Nevada, Texas, and Illinois to follow shortly.
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.