Corvus was founded on the idea that we can make commercial insurance smarter by finding new and unique sources of data to predict and prevent claims. We analyze the data with advanced techniques like machine learning and AI to drive tools and predictive models that both improve underwriting and help brokers and policyholders better understand and mitigate risk.
Your insights are only as good as your raw material – the data. Traditional insurance relies on familiar sets of data, decade after decade. At Corvus, we’re constantly finding novel sources of data to improve our tools and models.
Data science techniques like AI and machine learning get a lot of buzz. Smart companies put them to work. Corvus continuously incorporates the findings of our Data Science team into our product experiences and underwriting guidelines.
Risk is complicated. Helping brokers and policyholders understand what data science tells us about their risk profile is an important part of the Corvus approach. We provide easy-to-read reports to help manage risk.
With differentiated data, we create differentiated tools.
Our Dynamic Loss Prevention (DLP) program breaks down the complex world of cyber risk and ensures brokers and policyholders are empowered with actionable insights from our AI and machine learning analysis.
One component of the DLP Report is the Corvus Score, our holistic measure of a company’s IT security. It is a weighted aggregate of eight security measures driven by the Corvus Scan, our proprietary, non-invasive IT scan. The score forms a key component in our underwriting process, enabling customized price and coverage options for brokers
The Corvus Scan identifies vulnerabilities that fall into eight categories. Those risk exposures groups map to your clients’ insurance coverage, with some overlapping relationships. It gets complicated. That’s why In our DLP report you’ll see cyber risk exposures mapped to the insurance coverages you’re familiar with. You’ll also find materials that will help you understand the relationship between cyber risk and coverage.
The DLP’s detailed full scan report features risk mitigation recommendations. The guidance is detailed enough for IT managers to take action right away to help your clients improve security and prevent claims. Recommendations are prioritized by their potential impact on overall security, so you’ll see the most critical gaps first.
Billions of data points from sensors can provide a clearer view of patterns and trends in risk for losses due to temperature change in cargo shipments. Our Data Science team models cargo risk based on unique factors from new data sets.
Dynamic Loss Prevention Reports help brokers and policyholders better understand risk.
Corvus maps certain risk exposure groups to insurance coverages to form our Corvus Score and DLP Report.
One of the latest additions to the Corvus Smart Cyber policy is the Ransomware Risk Score. In this post we’re going to break down how this score works from a data science perspective to show behind the scenes how scores like this are generated.
Mike Karbassi is Vice President and Head of Cyber Underwriting at Corvus. He specializes in Network Security, Privacy Liability, Technology E&O, Media Liability, and Miscellaneous Professional Liability. Karbassi has over a decade of experience in insurance and is a graduate of the Boston University Questrom School of Business.
Gerritt is the Chief Commercial Officer at Corvus. He has over 20 years of sales and marketing experience, primarily focused on technology and data solutions for the financial services industry.
James co-founded Corvus and is the company’s Chief Technology Officer. A 30+ year technology veteran, Jaimie most recently served as CTO of Iora Health and previously co-founded Gazelle.
Mike Lloyd is the Co-Founder and Chief Product Officer of Corvus Insurance. Previously, Mike co-founded Poncho, a personal lines agency InsurTech startup, and was a venture investor at FJ Labs. Mike has an MBA from Harvard Business School and engineering degrees from Virginia Military Institute and MIT.
Phil is the founder and CEO of Corvus. A 30+ year insurance veteran, Phil co-founded broker William Gallagher Associates (acquired by Arthur J Gallagher in 2015) and was an active leader in both the Worldwide Broker Network and Council of Insurance Agents and Brokers. Phil is the Managing Partner of Edmus Ventures where he invests in InsurTech companies including Verifly, Wellthie, Agentero, and Cover Wallet, and serves on the board of Cover Wallet.