16 September 2020
Corvus Team

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

Corvus has had a surge of growth with sharply increased revenues.

BOSTON, MA 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 Ross-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.”

Mike Karbassi

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 Graham

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 McElhiney

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

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 Edmundson

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.

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