May 23, 2022

A Whale of an Opportunity with Dan Abrahamsen

1 hour 7 minutes

In this episode of The Power Producers Podcast, David Carothers and co-host James Jenkins interview Dan Abrahamsen, Co-Founder of Cover Whale. Dan talks about how dedicated Cover Whale is to assisting their trucking clients and carrier partners in risk management and how Cover Whale uses data and advanced technology to enhance the safety of our roadways.

Episode Highlights:

Dan shares that he started his career in the industry on the P&C carrier side, specifically with the trucking and transportation industry, before co-founding Cover Whale. (2:27)

Dan discusses how Cover Whale utilizes an AI-powered dash camera to help coach and advocate for their insureds. (9:41)

Dan believes that Tesla's insurance program is focused on the long term and shouldn’t necessarily be written off but doesn’t offer the same value as other InsurTech solutions. (23:03)

Dan shares that their model is to provide one quote back per submission with eight different carrier partners, as of today. (28:40)

Dan explains that the first part of their process is to give clients a nearly instant indication rate, to help get the conversation started. (34:17)

Dan shares that they offer a competitive payment term from their financial partners. (41:26)

Dan talks about being more traditionally focused on agencies with a transportation portfolio to help clients with comprehensive risk management solutions. (47:27)

Dan explains that the 3 things they think trucking operators should have are liability, comp and collision, and cargo. (50:21)

Dan explains how important it is to give agents information to enable them to answer the most complex questions. (55:25)

Tweetable Quotes:

"I think most truckers, they want to hear what you can do for them, and you have a very short window to make that clear. So, our first step in the process is we will give you a fast and loose rate based on your geographic area, number of vehicles, and we will give you that indication rate right away right on the portal " - Dan Abrahamsen

"I think like with anything in life or in insurance, what starts as super complex and foreign can quickly kind of peel back to something more manageable, you can get your hands around it." - Dan Abrahamsen

"You never want to be giving off-the-cuff guidance, if you're not entirely sure yourself. I do think that the educational component, we're committed to it, we're here to kind of push some of this forward." - Dan Abrahamsen

Resources Mentioned:

Dan Abrahamsen LinkedIn

Cover Whale

David Carothers

James Jenkins

Florida Risk Partners

The Extra 2 Minutes

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By David Carothers

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