This begins an exciting chapter at Corvus, where Sam and his team will be developing new ways for our Smart Commercial Insurance products to be implemented by embedding Smart Cyber and other Smart Insurance products into carriers’ and MGAs’ policies.
We can’t believe spring is already here! We’ve been launching products, opening new offices, and pushing our technology to new heights.
Today we’re excited to welcome Sam Kramer to the Flock as our Vice President of Reinsurance.
This begins an exciting chapter at Corvus, where Sam and his team will be developing new ways for our Smart Commercial Insurance products to be implemented by embedding Smart Cyber and other Smart Insurance products into carriers' and MGAs' policies.
Sam has experience in a range of roles across several parts of the insurance industry and adjacent industries, including at a carrier, a reinsurer, and an investment bank. He started as a public accountant focused on the insurance industry, and also consulted insurance businesses on claims and regulatory matters.
Sam is based in Hoboken, New Jersey, and will join the fast-growing New York City team at Corvus.
Corvus Question & Answer Session with Sam Kramer, VP of Reinsurance:
Why Are Reinsurance Solutions an Important Piece of the Insurance Value Chain?
Insurers face a variety of challenges and obstacles, particularly smaller and mid-sized carriers and MGAs. They operate in a highly competitive environment, meaning that they need to constantly find ways to differentiate themselves in the market. Additionally, while cybersecurity risks are not entirely new, many of these organizations do not have the time or resources to address their agents’ and policyholders’ cyber insurance needs but are still taking on cybersecurity risk through other coverages like GL and E&O. Corvus provides these companies with tools and resources to further differentiate themselves from the competition, and provide a way to affirmatively address cybersecurity perils in their policies, without keeping on the cyber insurance risk.
What Excites You About Corvus?
I was attracted to Corvus' unique technology which works with brokers and policyholders to mitigate cyber security risks, while drastically simplifying the process for brokers to sell cyber insurance and other products to their customer base. Every day, I hear of more ways we are helping businesses stay secure, or helping brokers more efficiently go about their business, all thanks to Corvus’ technology.
Looking Ahead, What Do You See as the Biggest Trends or Challenges in the Coming Year?
Insurers are seeing an increase in breach activity and costs, causing them to increase rates for a number of coverage components. Corvus' technology bundle, combined with broad coverage terms, are great tools for carriers and MGAs to protect their policyholders from the impact of breaches, affirmatively address cyber coverage in their policies, and further differentiate themselves in the market by white labeling our solution set.
One Important Thing to Know About You?
I love learning about other cultures, particularly their food. As you can imagine, I love traveling, cooking, and eating.