Covercube
- Company typePrivate
- Founded2021
- HeadquartersManhattan Beach, United States
- Headcount1–10
- GTM typeB2C
- OfferingServices
Covercube firmographics
Firmographics- Name
- Covercube
- Legal name
- Covercube Insurance Solutions LLC
- Website
- https://covercube.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Ownership category
- akta.pro rank
Covercube industry classification
Industry- Product category
- Usage-Based Auto Insurance
- NAICS
- Direct Property and Casualty Insurance Carriers (524126), Insurance Agencies and Brokerages (524210)
- SIC
- Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Telematics & Usage-Based Insurance (UBI) Platforms (FSAGAGAF)
- akta.pro secondary industry
- Pay-Per-Mile Personal Auto Insurance (FSAJAAAC)
Keywords
Where Covercube is headquartered
LocationHeadquarters
- HQ city
- Manhattan Beach
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Covercube business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Marketing or Sales, Operations, Personnel, Infrastructure, Supply Chain
Revenue model
- Insurance Premium Revenue: Covercube generates revenue through recurring insurance premiums charged to policyholders. Customers pay monthly (with automatic renewal options) for auto insurance coverage. Premiums are dynamically priced based on individual telematics driving scores — the safer the driving, the lower the rate. The first 6 months have a fixed premium, after which rates adjust monthly based on driving performance.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Pay-as-you-drive telematics insurance — no fixed tiers |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Covercube product offering
Product offeringCore offering
Covercube sells telematics-based personal auto insurance in Arizona, paired with a Bluetooth-connected mobile app that scores driving behavior per trip and dynamically adjusts monthly premiums. Customers acquire coverage through a network of independent Arizona insurance agents or directly via the app and customer portal, while claims are processed and policies are serviced by Covercube and underwritten by Aegis Security Insurance Company.
Product overview
Covercube is a technology-driven insurance platform that combines a mobile app with telematics-based auto insurance products. The core offering consists of the Covercube Mobile App (iOS/Android) that connects to vehicles via Bluetooth to track driving behavior, paired with Covercube Car Insurance that adjusts premiums based on real-time driving scores. The platform includes separate web portals for customers (policy management, payments, claims) and insurance agents (portfolio management, pricing tools). A device protection add-on for phones, laptops, and tablets is offered through a partnership with Akko. The system currently operates exclusively in Arizona, with insurance issued by Aegis Security Insurance Company.
Differentiator
Problem solved
Functional benefit
Products and services
- Covercube Mobile App Telematics-based iOS and Android app that connects to a vehicle's Bluetooth system to track driving behavior (speed, braking, cornering, acceleration, time of day), calculate real-time risk scores per trip, display trip maps, and surface estimated insurance savings. Used by individual Arizona drivers to manage their Covercube auto insurance policy.
- Covercube Car Insurance
Quantifiable outcome
- Drivers can save up to 25% on insurance premiums by driving at low risk levels
- +2 more outcomes
Companies that use Covercube
Customer profileNamed customers4 records
Segments2 records
Ideal customer profiles2 records
Covercube technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability4 records
Feature4 records
Covercube partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Aegis Security Insurance CompanycoreAegis Security Insurance Company is the insurance carrier that issues the actual auto insurance policies underwritten through Covercube. According to the Terms of Service, policies are 'issued by Aegis Security Insurance Company and serviced by Covercube.' Aegis Security is also the entity that owns and operates the applications branded as Covercube, as stated in the Privacy Policy.
Scale indicators1 record
Recent moves5 records
Expansion highlights4 records
Covercube competitors and assessment
Company assessmentDirect peers
- Metromile: Metromile pioneered pay-per-mile auto insurance using a telematics device or app to track miles driven. Closely comparable usage-based pricing model and personal auto focus, though Metromile historically required a hardware dongle rather than a Bluetooth smartphone-only solution.
- Root Insurance: Root is a telematics-based personal auto insurer that prices policies based on individual driving behavior measured through a mobile app. Directly comparable to Covercube on product (UBI auto), target customer (individual drivers), and pricing model (behavior-based premium).
Broad incumbents
- GEICO: GEICO is one of the largest US personal auto insurers and a direct-to-consumer leader. Comparable consumer auto insurance offering but lacks Covercube's telematics-first product positioning.
- Progressive (Snapshot): Progressive's Snapshot is one of the largest UBI auto programs in the US. A broad incumbent offering usage-based insurance as part of a much wider personal auto portfolio, contrasting with Covercube's UBI-first single-state strategy.
- State Farm (Drive Safe & Save): State Farm's Drive Safe & Save is a UBI program rewarding safe driving via mobile app or OnStar. Comparable telematics-pricing mechanics, but operates within the largest US personal-lines insurer with massive captive-agent distribution.
- Allstate (Drivewise): Allstate offers Drivewise, a usage-based insurance discount program tracking driving behavior via mobile app. Same telematics category but embedded within a massive, multi-line national carrier versus Covercube's standalone startup position.
Others
- Cambridge Mobile Telematics: CMT is the leading telematics data and analytics provider used by many UBI insurers. Adjacent enabler of the same telematics-pricing technology stack that Covercube relies on.
- Akko: Akko is Covercube's device-protection add-on partner for phones, laptops, and tablets. Ecosystem partner rather than a competitor, included to show the specific commercial relationship that extends Covercube's product line.
- LexisNexis Risk Solutions: LexisNexis provides insurance data and telematics scoring platforms widely used by US auto insurers. Comparable as a behind-the-scenes enabler of UBI risk assessment that Covercube competes against in risk-model sophistication.
Emerging players
- Lemonade: Lemonade is a digital-first insurer expanding from renters into auto. Comparable as a digitally-native insurance brand pursuing app-based distribution; less direct telematics overlap but mirrors Covercube's mobile-first insurance thesis.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Covercube social profiles
Digital presenceCovercube financial estimates
Financial estimateRevenue estimate
Valuation estimate
Covercube leadership team
Management profileNumber of profiles
Profiles2 records
Covercube funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Covercube M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Covercube
What does Covercube do?
Covercube sells telematics-based personal auto insurance in Arizona, paired with a Bluetooth-connected mobile app that scores driving behavior per trip and dynamically adjusts monthly premiums. Customers acquire coverage through a network of independent Arizona insurance agents or directly via the app and customer portal, while claims are processed and policies are serviced by Covercube and underwritten by Aegis Security Insurance Company.
Is Covercube a public or private company?
Covercube is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Covercube founded?
Covercube was founded in 2021. It employs 1 to 10 people.
Where is Covercube based?
Covercube is headquartered in Manhattan Beach, United States, in the North America region.
How does Covercube make money?
One revenue line is on record: insurance Premium Revenue.
Who are Covercube's main competitors?
Direct peers on record are Metromile and Root Insurance. Broad incumbents are GEICO, Progressive (Snapshot), State Farm (Drive Safe & Save) and Allstate (Drivewise). Others are Cambridge Mobile Telematics, Akko and LexisNexis Risk Solutions. Lemonade is listed as an emerging player.
Does Covercube have an API?
No public API is recorded for Covercube.
What industry is Covercube in?
Covercube's product category is Usage-Based Auto Insurance. Its primary akta.pro industry code is FSAGAGAF, Telematics & Usage-Based Insurance (UBI) Platforms, with a secondary code of FSAJAAAC, Pay-Per-Mile Personal Auto Insurance. Its NAICS code is 524126 and its SIC code is 6331.