Corvus Continues Rapid Acceleration with New Clients and 380% Gross Written Premium Growth
Corvus has had a surge of growth with sharply increased revenues.
We can’t believe spring is already here! We’ve been launching products, opening new offices, and pushing our technology to new heights.
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.
Corvus's Rapid Growth Continues
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.”
New Corvus Insurance Data Reveals Ransomware and Fraudulent Funds Transfer Represent More Than Half of All Claims
Corvus Risk Insights Index™ findings show fraudulent funds transfer claims reached an all-time high, making up 36% of the company’s cyber claims in Q3 2022
Seasoned marketing executive joins Corvus to support the insurtech’s accelerated growth and global expansion efforts