Corvus Continues Rapid Acceleration with New Clients and 380% Gross Written Premium Growth

BOSTON, MA / ACCESSWIRE / September 16, 2020 / Corvus Insurance, a leading provider of smart commercial insurance products powered by AI-driven risk data, has had a surge of growth with sharply increased revenues.

On the heels of this accelerated growth, Corvus has made notable senior hires in order to properly scale to meet market demands. The appointment of Sam Kramer as VP of Reinsurance, Jocelyn Getson as VP of Enterprise, and Dana Paige as the VP of Risk Capital, are the latest in a series of prominent hires this year.

Additional highlights from a year of innovation include:

Corvus raised $33 million in Series B financing in January 2020
An increase in headcount of 2.5x
Recently named as a finalist for Insurtech Initiative of the Year by Business Insurance

Corvus makes insurance smarter by applying findings from new data sources analyzed with AI techniques like machine learning. The CrowBar, Corvus’ digital platform, delivers novel insights and a quote experience purpose-built for brokers and policyholders while leveraging innovations such as the Corvus Scan, dynamic vulnerability alerts, and pre-breach services. The CrowBar also helps brokers and insureds with benchmarking, ransomware cost calculations, and other risk management services to better defend policyholders’ IT infrastructure.

Corvus has informed thousands of its policyholders of specific vulnerabilities related to ransomware and other threats. The majority of policyholders have been subsequently able to address these vulnerabilities and thereby better defend their IT infrastructure.

“The choice to work with Corvus is consistent with our business goals around cyber,” commented Akhil Chopra, Managing Director and Head of Cyber at broker NFP. “The underwriting and onboarding process is seamless and efficient and provides an ideal solution for our clients. We’re delighted to have them as one of our trusted partners.”

“We’re thrilled that our unique technologies and solutions are getting recognition in the industry, and making organizations safer from cyber hacks,” said Philip Edmundson, Founder and CEO of Corvus Insurance. “We’re looking forward to continuing to build on such a momentous year with an expanded team and a growing list of clients.”

About Corvus

Corvus is reimagining commercial insurance for a digital world by making insurance smarter, companies safer, and brokers more successful. Corvus empowers brokers and policyholders with actionable insights to mitigate complex risks and reduce losses through the CrowBar^Ⓡ digital platform, smart insurance products, and premier risk management services. Corvus is the world’s largest specialty commercial InsurTech company.

Founded in 2017 by a team of veteran entrepreneurs from the insurance and technology industries, Corvus is backed by Telstra Ventures, Obvious Ventures, MTech Capital, Bain Capital Ventures, Hudson Structured Capital Management, and .406 Ventures. The company is headquartered in Boston, Massachusetts, and has offices across the U.S.

MEDIA CONTACT

Austin Downey
Caliber Corporate Advisers
austin@calibercorporate.com
972.689.9453

SOURCE: Corvus

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