Trucking insurer Cover Whale in Nexar dash cam partnership
Commercial trucking insurer Cover Whale is teaming up with Nexar, a video telematics company, to provide the firm’s AI-powered dash cameras for its insured customers.
Nexar’s dual-facing cameras can detect behavioural risks behind the wheel including hard braking, sharp cornering, and rapid acceleration and deceleration. It can also use artificial intelligence (AI) to provide context to each event.
Cover Whale says the new technology will help to reduce the need for insurance claims and reduce fleet operators’ exposure to risk. The average long-haul truck driver in the US covers around 125,000 miles per year, and as a result 12% of fatal crashes involve at least one large truck or bus. Statistics also show that the trucking industry faces more ‘nuclear verdicts’ as a result of civil litigation than other industries – defined as a jury verdict worth at least US$10mn – meaning a single accident can bring down an entire fleet.
Clearly, the use of technology – as is being pioneered by Cover Whale and Nexar’s latest partnership – could help to both reduce insurance claims and discourage harmful driving behaviours that could lead to a crash.
Partnership will ‘protect truck drivers and motorists’
Dan Abrahamson, CEO and Co-Founder of Cover Whale, says: “There have always been driver concerns surrounding dual-facing dash cams but given the frequency and severity of accidents, dash cams and the advanced telematics they provide are the best tool to provide a more comprehensive range of visibility and data with which to protect both truck drivers and motorists. We’re pleased to integrate Nexar’s capabilities into our ‘Driver Safety Program’ to provide truckers and fleets with the protection and safety they deserve.”
Eran Shir, CEO and Co-Founder of Nexar, adds: “We’re honoured to be selected as a top video telematics dash cam by the country’s leading insurtech for truckers. This partnership further proves our advanced dash cam technology and capabilities. In collaboration with Cover Whale, the information retrieved by our cameras will identify unsafe driving practices, helping to avoid accidents and costly claims in the first place. We’re proud to partner with Cover Whale for this important mission, and we look forward to future opportunities together.”
It is not the first time that Cover Whale has pioneered new technology. Last September, it launched a new API that allows agents to integrate their systems with Cover Whale's commercial trucking insurance platform, simplifying the process of pricing and binding policies. It also launched a new mobile app for policyholders.