Cover Whale
An InsurTech that uses data and technology to provide a trucking platform that streamlines the application and quoting process.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor | €0.0 Valuation: €0.0 | round | |
| N/A | €0.0 | round | |
* | $40.0m | Early VC | |
| Total Funding | 000k | ||
| USD | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 |
| % growth | - | 75 % | 27 % |
| EBITDA | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Cover Whale is a startup that operates in the commercial auto insurance market, specifically catering to the trucking industry. The company offers a comprehensive range of insurance products to truckers, covering various aspects such as liability, cargo, vehicle, and other associated risks. The target clientele includes both individual truck owners and small fleet operators who prioritize safety.
Cover Whale's business model is unique as it leverages artificial intelligence (AI) and telematics to enhance driver safety. The company's real-time driver safety coaching program, powered by AI, has been proven to reduce unsafe driving actions by 50%. This not only ensures safer roads but also helps truckers maintain a clean driving record, which can lead to lower insurance premiums.
The company works closely with a select group of insurance agents who are committed to finding the best and most affordable insurance coverage for their trucking clients. Cover Whale also offers a user-friendly quoting platform for agents, enabling them to provide instant quotes and thereby improving their productivity.
Cover Whale's revenue primarily comes from the premiums paid by the truckers for the insurance coverage. The company also offers specialized insurance products such as hotshots coverage and UIIA coverage for truckers hauling freight out of U.S. ports.
In summary, Cover Whale is a tech-driven insurance startup that offers comprehensive and affordable insurance solutions to the trucking industry, with a strong emphasis on driver safety.
Keywords: Commercial Auto Insurance, Trucking Industry, AI-Driven, Telematics, Driver Safety, Insurance Agents, Quoting Platform, Premiums, Hotshots Coverage, UIIA Coverage.