NEW YORK, March 1, 2022 /PRNewswire/ -- Cover Whale Insurance Solutions, Inc. ("Cover Whale") and dreyev are partnering to build an innovative and adaptive risk-based technology process to transform today's commercial auto insurance industry. The new approach uses patented technology to analyze real-time driver actions and road traffic conditions, identify and correct dangerous driving before crashes occur, improve Cover Whale's continuous underwriting model and result in savings for safe drivers.
Cover Whale's foundation of technology, data and machine learning analytics revolutionized the commercial auto segment, bringing a forward-looking and continuous underwriting model to market. dreyev's intelligent edge computing platform enables fast screening of high-speed data from multiple cameras and sensors for additional analytics. Cover Whale's partnership with dreyev will create an unparalleled data-centric platform to improve loss ratios, lower insurance premiums for safe drivers and make roads safer by saving lives.
"Cover Whale's existing AI-driven technology and underwriting process have allowed us to thoroughly outperform industry benchmarks to date. We view this partnership with dreyev as a catalyst into a world where our technology could prevent crashes before they happen, resulting in fewer lives lost and better pricing for our portfolio of safe drivers," said Dan Abrahamsen, CEO of Cover Whale.
Distractions and drowsiness are responsible for a significant and costly portion of commercial auto crashes. dreyev's distributed, patented AI technology uses multi-channel data processing to provide the ability to intervene and instantaneously correct risky driving. dreyev's technology measures driver attention and driving risks in real-time, identifying driver personas and risk attitude. The patented behavioral monitoring and alert engine improves safety on the road and can play a vital role in the transition to self-driving vehicles. This technology was developed by Dr. Maggie Stys, Co-Founder / CEO, and Dr. Roberto Sicconi, Co-Founder / CTO, who bring deep experience in AI as part of the original IBM Watson team.
"We are excited for this partnership to push the frontiers of commercial auto insurance by complimenting Cover Whale's highly successful high-tech platform with our patented behavioral AI technology. Our technology recognizes signs of distraction or drowsiness and can alert drivers to potential crashes well before they occur. dreyev's real-time, in-vehicle coaching system evaluates driver attention and responsiveness to road and traffic conditions, preventing crashes, and reducing loss," said Dr. Maggie Stys, CEO of dreyev.
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, using data to make our roads safer and save lives. Cover Whale provides the most agent-friendly online platform, providing a simple solution for fast insurance quotes. Products are available exclusively through CoverWhale.com and agency partners, with capacity from multiple leading insurance markets.
About dreyev: dreyev (pronounced "drive") is an AI risk analytics company founded by IBM Watson alumni offering proprietary co-driver experience that prevents auto crashes through real-time risk alerts based on driver skill, attention, and responsiveness analysis. dreyev improves safety by enabling true collaborative driving, balancing human and AI driving skills through mutual guidance and interactive collaboration. dreyev's ability to evaluate the attention level of the driver and instantaneously combine it with real-time traffic conditions makes it an extremely compelling and essential solution in the transition towards higher levels of autonomous driving.
SOURCE Cover Whale Insurance Solutions