Devron Partners with Cover Whale to Enable Safer Roads

Partnership accelerates Cover Whale's AI efforts to deliver improved underwriting and highway safety

NEW YORK, March 1, 2023 /PRNewswire/ -- Devron, the leader in AI and machine learning for distributed and private data, today announces a partnership with Cover Whale Insurance Solutions, Inc., a leading commercial trucking insurance provider and fast-growing insurtech. By using Devron's federated data science platform, Cover Whale will develop and train AI models to rapidly incorporate new and alternative data sources to better predict risk, provide coaching to drivers and align premiums.

Cover Whale's Driver Safety Program leverages data science and AI to evaluate and mitigate risk to improve road safety. Devron's platform streamlines the process by unlocking access to additional datasets and eliminating the need, cost and privacy risk of moving data. Combined, this federated approach allows Cover Whale to efficiently develop, train, and operate more effective models to identify risky driving behaviors or conditions.

Traditionally, companies have needed to implement complex infrastructures for extracting, duplicating, and moving data to gain insights. Devron bypasses this need by allowing Cover Whale to build and train machine learning models on datasets where they reside, including, for example, claims information, various vehicle telematics, external data related to highways, weather conditions, etc. to gain a more informed view of risk.

"We're proud to be working with Cover Whale and to be a catalyst for its continued AI and data science efforts," said David Murray, Chief Business Officer at Devron. "Devron's platform will help Cover Whale offer new data-driven solutions in a more efficient manner. As a result, Cover Whale is able to reduce data engineering overhead, realize faster insights, more effectively manage risk, and improve personalization for its customers."

"Working with Devron is the next step towards enhancing our Driver Safety Program by accessing more data points to identify unsafe behavior," said Tony Beirne, Chief Data Officer and Chief Actuary of Cover Whale. "Devron's platform enables us to prioritize data science over data movement, using their industry leading, agile and innovative federated learning platform. It also allows us to leverage data science and predictive modeling across more types of data to price more accurately, and to respond to changing driver behaviors, with enhanced policyholder privacy. We've seen a decrease in unsafe driving in 71% of drivers–and a 50% reduction in unsafe driving actions among the riskiest drivers through our program. We anticipate increasing safety gains, as Devron's platform accelerates our integrations across a growing number of telematics and camera device vendors."

Cover Whale has tapped Devron to expedite current data science initiatives and to provide a foundation for future expansion of its efforts through faster access to multiple data sources, formats and types and to deliver deeper insights with less overhead.

Devron is an advanced data science and machine learning technology company that unlocks trapped value and exposes hidden business insights without compromising data privacy. Its innovative federated machine learning platform enables data scientists to keep their datasets where they reside without duplicating and centralizing data. Backed by a consortium of institutional investors, led by Tiger Global and including FinTech Collective, Afore Capital, and Essence Venture Capital.  Headquartered in New York City, NY Devron is accelerating time to insight for private and public sector customers. www.devron.ai and LinkedIn.

Cover Whale, an insurtech founded by experienced insurance and technology veterans, focuses on technology, underwriting, and data to provide innovative insurance programs for the commercial auto industry. Cover Whale's unique Driver Safety Program combines coverage with telematics, dash cams and real-time driver coaching to reduce claims, keep drivers safe and save lives on America's roads. Cover Whale delivers its product through more than 5,000 agents with the industry's fastest, most agent-friendly online quoting experience. Maintaining excellent agent relationships has driven more than $400 million in premium through the Cover Whale platform. With a fundamental belief that safe driving should be rewarded, Cover Whale-insured drivers may receive up to 15% off when renewing their auto liability policy. For more information, visit www.coverwhale.com. Stay up to date with Cover Whale on LinkedIn, Facebook, and our blog.

SOURCE Devron

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