Covercube and Aegis Security launches usage-based auto insurance in Arizona based on AI technology from Greater Than
Greater Than, the leading motor risk analytics insurtech, has in partnership with the MGA Covercube and Aegis Security, tailored an entirely dynamic motor insurance with real-time assessment of risk by using AI.
In response to the strong consumer trends and the increased demand for insurance costs reflecting individual usage, as opposed to today’s standard of pooled pricing, Covercube and Greater Than have developed a new UBI offering in cooperation with Aegis Security. The new auto insurance, which took less than three months for the partnering companies to develop, will enable fair and transparent pricing of premiums and extensive flexibility to manage the insurance directly in the app.
“AI-based risk analysis takes a step up in its abilities within auto insurance and plays a vital role in getting product positioning and pricing right. By approaching digital-first customers who really care for fair and transparent pricing and who request extended flexibility based on usage, we have found a perfect market fit with this offering.” – John Crispi, founder and CEO of Covercube
Covercube’s offering is a synergy of collaboration with independent insurance agents and the policy provider Aegis Security, where all parties share the common goal of pricing policyholders’ premiums fairly, while at the same time encouraging them to drive safer and reduce their impact on climate change.
“We’re very excited to see the increased demand for more flexible, dynamic and transparent motor insurance products in the US. As our core product is essential for correlating driving risk with actual cost, we’re thrilled to provide the technical foundation of Covercube’s firmly positioned offering.” – Sten Forseke, founder of Greater Than
For media inquiries, contact;
Eva Voors, Chief Communications Officer
+46-708 884 880
Isis Fernandez, Director of Operations, Covercube
www.covercube.com About Greater Than
Greater Than is an AI and Insurtech company, providing predictive risk insights on claims frequency and cost – helping global insurance carriers with better pricing of premiums, smart customer retention and targeted customer acquisition. Based on the company’s AI technology, Greater Than provides a product portfolio including Enerfy Risk Portfolio Tracker, Enerfy Loyalty and Enerfy Insurance Products, as well as additional services and apps for dynamic pricing, car sharing, fleets, leasing and driver gamification. Greater Than partners with large insurance enterprises such as Zurich, MSIG, and with Toyota. Greater Than is listed on Nasdaq First North Growth Market. Learn more at greaterthan.eu.
Covercube is a full stack General Agency that offers innovative insurance products and services for carriers and reinsurers. Incepted in 2021, Covercube brings over 20 years of management experience in the P&C space with emphasis on the growth of the independent agency distribution channel. Covercube’s innovative pricing allows independent agencies to compete with captive carriers and direct writers by offering an alternative to traditional and out-dated pricing methods. For more information, please visit www.covercube.com