Corvus, an online insurance platform, has expanded its operations following the opening of an office in the Los Angeles area.
This comes after the InsurTech closed a $10m Series A round at the close of last year. The round was supported by .406 Ventures, Hudson Structured and Bain Capital Ventures – Bain also previously invested $4m to the company in March of 2018.
In conjunction with the new office launch, Corvus has named former vice president at NAS Insurance Brian Alva to its leadership team. Brian is joining former RPS client relations manager Amanda Mirabile.
Corvus has opened the new office to support the growing demand of its cyber and cargo insurance products and will use the new west coast office to extend the reach of its underwriting capabilities and distribution.
Massachusetts-headquartered Corvus is a digital insurance platform which partners major insurers and acts as a general managing agency. The broker-friendly solution uses technology powered by new forms of data to predict and prevent claims, by providing underwriters with ongoing loss prevention recommendations and business intelligence.
Its Smart Cargo Insurance analyses data from temperature sensors which are used in the shipments for goods which could spoil. From this data the company can score the temperature stability for each manufacturer.
The Smart Cyber Insurance leverages data to assess the performance of an enterprise and their IT vendors and partners to a critical security criteria list. This gives a holistic view into a business’ security programs.
Corvus CEO Philip Edmundson said, “Corvus is bringing data analytics to brokers that help them to bring new value to their clients. Our broker-enabling Dynamic Loss Prevention reports help brokers to better manage risk for their clients.
“Corvus helps brokers and their policyholders to better manage cyber risk through our Corvus Score and through actionable recommendations. We are excited to be able to offer this to more organizations than ever.”
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