CORE INSURANCE
Corvus | July 28, 2022
Corvus Insurance, the market-leading specialty insurance MGA offering Smart Commercial Insurance® products powered by AI-driven risk data, today announced the opening of a new continental European office in Frankfurt, Germany.
The newest office location for Corvus creates a presence in continental Europe for the company — a first for a US-based insurtech — allowing Corvus greater flexibility to expand its international footprint and capabilities through new markets.
“Frankfurt is located within the largest insurance market on the continent and the city has always been an international business hub across industries,” said Oliver Delvos, Head of International at Corvus Insurance.
“Frankfurt is located within the largest insurance market on the continent and the city has always been an international business hub across industries,” said Oliver Delvos, Head of International at Corvus Insurance. “We will be able to spread our wings and develop our business with a true European focus.”
The Frankfurt office will look to underwrite cyber insurance business for both small- and medium-sized businesses (SMBs) and larger corporations. Coupled with product growth, Corvus seeks to increase employee headcount by attracting new talent to the industry and into tech. This will include offering positions for ‘Werkstudenten’ from universities as a way to provide graduates with potential career opportunities.
“Cyber by its very nature is a global risk, and by expanding our operations into Europe, this will create new opportunities for our team to help even more policyholders and support our foundational mission of making the world a safer place,” said Lori Bailey, Chief Insurance Officer of Corvus Insurance.
To learn more about Corvus, please visit https://www.corvusinsurance.com.
About Corvus
Corvus Insurance is building a safer world through insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Our market-leading specialty insurance products are enabled by advanced data science and include Smart Cyber Insurance®, Smart Tech E+O™, and Smart Cargo®. Our digital platforms and tools enable efficient quoting and binding and proactive risk mitigation. Corvus Insurance offers insurance products in the US, Middle East, Europe, Canada, and Australia. Current insurance program partners include AXIS Capital, Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and Skyward Specialty Insurance. Corvus Insurance, Corvus London Markets, and Corvus Germany are the marketing names used to refer to Corvus Insurance Agency, LLC; Corvus Agency Limited; and Corvus Underwriting GmbH. All entities are subsidiaries of Corvus Insurance Holdings, Inc. Corvus Insurance was founded in 2017 and is headquartered in Boston, Massachusetts with offices across the US, in the UK, and Germany. For more information, visit corvusinsurance.com.
Read More
AUTOMOBILE INSURANCE
Greater Than | July 12, 2022
Greater Than the global provider of DriverDNA for real-time insurance and predictive risk insights, is listed in AIFinTech100, in recognition of its next-generation pattern AI technology providing real-time predictions of car crashes and CO2 emissions.
The AIFinTech100 list, published today, highlights the world's most innovative solution providers developing artificial intelligence (AI) and machine learning technologies to solve challenges or improve efficiency in financial services. These are the companies every financial institution needs to know about as they consider and develop their digital transformation strategies and new customer propositions.
"We're extremely proud that our unique patented AI technology has been recognized in the prestigious AIFinTech100 list. Thanks to the dedication and perseverance of our team, our AI can find micropatterns in people's behavior, enabling us to create a DriverDNA for every trip, with a crash probability, cost and CO2 impact attached to it. This is transforming the risk forecasting landscape for insurance, mobility providers and fleets, and incentivizing safer, cleaner driving behaviors for the benefit of the wider community,"
Sten Forseke, Founder of Greater Than
The adoption of AI and data analytics solutions by financial institutions has exploded over the last two years accelerated by technological advancements, increased use of digital channels, and shifting regulatory frameworks. Additionally, the potential cost savings for banks from AI applications is estimated to reach $447bn over the next 12 months.
As a result, the number of tech providers employing AI or data solutions to solve challenges in areas such as banking, insurance, customer experience, investment & trading and compliance has skyrocketed. This made the selection process for this year's AIFinTech100 list extremely competitive as the finalists were selected by a panel of industry experts and analysts based on research produced by FinTech Global on over 2,000 FinTech companies.
"Now, more than ever, established financial institutions need to be aware of the latest AI and data analytics technology in the market to deliver competitive financial products and reach new customers. The AIFinTech100 list helps senior decision-makers in the industry filter through all the vendors in the market by identifying the market-leading AI innovators which will have lasting impact on the industry," - says Richard Sachar, Director of FinTech Global.
Read More
RISK MANAGEMENT
Surefire Cyber | June 01, 2022
Surefire Cyber, a new incident response company, debuted today to assist cyber insurers, brokers, legal firms, and the enterprises they support in better managing cyber events like ransomware, email hacking, and other cybercrimes. The firm received a $10 million Series A round of funding from Forgepoint Capital.
Surefire Cyber's goal is to work with our clients and partners to swiftly manage a cyber incident and then bring forward capabilities to help them become more cyber resilient. Our delivery of end-to-end digital forensics and incident response capabilities is built on a tech-enabled framework and delivered through a platform that aligns and connects an organization's executives, technical team, insurance carrier, and legal counsel."
Billy Gouveia, the CEO and Founder of Surefire Cyber.
Surefire Cyber is committed to being great partners to carriers, brokers, Breach Coaches®, and the clients they work together to support. We are pleased to welcome them as new contributors to the cyber insurance ecosystem who offer deep experience and a valuable perspective."
Mark Greisiger, President and Founder of NetDiligence®.
Based on two long-term trends: the rising cost of cyber incidents and the growing adoption of cyber insurance, industry veterans found Surefire Cyber as a purpose-built response firm that leverages a proven team and a tech-enabled platform to improve transparency, improve decision making, minimize business interruption, and guide organizations from recovery to long-term resilience.
Forgepoint Capital, the world's most active early-stage cybersecurity venture capital firm, is backing Surefire Cyber. Before he started Surefire Cyber, Gouveia worked as an Entrepreneur-in-Residence at Forgepoint. There, he helped develop the company's strategy, business model, technology, and team, as well as build important partnerships with companies across the firm's portfolio.
Read More