Cyber insurance managing general underwriter Corvus Insurance is now officially part of The Travelers Companies, a prominent insurance provider.
The completion of the acquisition, valued at approximately $435 million, was officially disclosed by Travelers in an update, following the initial announcement in November 2023.
“We have forged a strong strategic partnership with the talented team at Corvus over the past year, and we are pleased to officially welcome them to the Travelers family,” said Alan Schnitzer, Chairman and Chief Executive Officer of Travelers. “With a proven platform and deep cyber underwriting and risk management expertise, Corvus brings to Travelers important cyber capabilities.”
Corvus has developed an industry-leading suite of integrated cyber sales, underwriting, service and support capabilities. Through its platform, Corvus effectively identifies vulnerabilities throughout the policy period to reduce customers’ exposure to cyber events. Corvus’ platform also delivers distribution efficiencies to insurance agents and brokers.
Established in 2017, the insurtech operates with a proprietary, artificial intelligence-driven cyber risk platform, offering distribution efficiencies to insurance agents and brokers. The platform is designed to identify cyber vulnerabilities throughout the policy period, further enhancing Travelers’ capabilities in the crucial realm of cyber insurance.
