Multi-year strategic investments further enable Corvus’s evolution and focus on policyholders across geographies
Corvus Insurance, the market-leading specialty insurance MGA offering Smart Commercial Insurance products powered by AI-driven risk data, today announced an expanded strategic partnership with SiriusPoint Ltd. (“SiriusPoint”) (NYSE: SPNT), the global specialty insurer and reinsurer, and R&Q Accredited, the leading program management solution provider.
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The enhanced program, with R&Q Accredited continuing as the fronting insurer, follows an initial investment and multi-year underwriting capacity partnership announced in September 2021. The latest multi-year investment from SiriusPoint and R&Q Accredited adds an additional $100MM to the program and will allow Corvus to build upon its Smart Cyber Insurance® offerings.
“Our expanded partnership with SiriusPoint and R&Q Accredited will help Corvus reach new heights,” said Phil Edmundson, Founder and CEO of Corvus Insurance. “Our digital platform, the CrowBar®, and the data and AI tools used by Corvus are producing superior loss ratios for our partners. Together we are building a win-win-win for our brokers, policyholders, and risk capital partners.”
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In addition to its wider global reach, Corvus will continue to leverage its underwriting capabilities and disciplined approach to taking on risk. Garnering expertise from these avenues, along with its core technology and data sources, is paramount for cyber insurance — and Corvus will continue to evolve to meet the needs of its brokers and policyholders.
“We are delighted to expand SiriusPoint’s multi-year agreement with Corvus and to enhance our partnership to support the company’s ongoing growth,” said Patrick Charles, Global Head of Property & Casualty, Insurance & Services at SiriusPoint. “We have continued to be impressed with Corvus’s agility in responding to the evolving cyber risks its clients face, and the innovative and disciplined approach it applies to risk mitigation. We are excited about the next phase of the company’s development.”
“We are excited to build on our partnership with Corvus. Their data- and tech-driven approach to cyber liability has already helped drive strong growth, and we are delighted to strengthen our partnership as Phil and his team continue to evolve and expand the Corvus offering,” said Dawn H. Puro, Chief Underwriting Officer, Casualty of R&Q Accredited America.
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