Insurtechs outfit small carriers with telematics to save on insurance
Summary
It offers insights on fuel consumption, location of assets, idle time, route plans, driver behavior and much more. Many owner-operators or small fleets (25 or fewer trucks) don’t have the means to afford telematics solutions or lack options on the market that serve them. Cover Whale Insurance Solutions Inc., is offering its advanced telematics and proprietary quoting and binding technology to CoverWallet’s independent owner-operator and small fleet trucking customers – a market that is traditionally underserved. Cover Whale CEO Dan Abrahamsen said it isn’t typical to find telematics equipment on trucks owned by small fleets. [RELATED: Insurance experts offer insights on how to lower carriers rates] Jeff Borgman, director of transportation programs for CoverWallet, an Aon company, said telemetry data can differentiate the good drivers from the bad, and thats where telematics becomes a little bit of an equalizer.