Corvus Insurance

AI-powered commercial insurance and risk management

Boston, Massachusetts, United States

About Corvus Insurance

Corvus Insurance provides commercial insurance solutions that utilize artificial intelligence to assist insurance brokers in managing complex risks. Their main product, the Corvus Score, evaluates an organization's IT security through a proprietary assessment tool called the Corvus Scan™, which identifies vulnerabilities. This information enables brokers to offer tailored pricing and coverage options to businesses, particularly in sectors like cybersecurity that require detailed risk management. Corvus differentiates itself by integrating data-driven tools into the insurance process, enhancing the efficiency and effectiveness of brokers' services. The company's goal is to improve the broker-client relationship by providing valuable insights and reducing administrative burdens, while also adapting their offerings based on broker feedback to stay relevant in the evolving market.

Boston, MassachusettsHeadquarters
2017Year Founded
$156.4MTotal Funding
ACQUISITIONCompany Stage
Cybersecurity, AI & Machine Learning, Financial ServicesIndustries
201-500Employees

Benefits

Unlimited PTO
Hybrid Work Environment
Professional Development
Paid Parental Leave
401(k) Company Match
Health, Dental & Vision Insurance

Risks

New ransomware groups pose significant threats, potentially increasing claims for Corvus.
Departure of co-founder Mike Lloyd may lead to increased competition.
Rapid fintech growth in Boston could challenge Corvus in attracting tech talent.

Differentiation

Corvus uses AI to enhance underwriting accuracy and reduce claims costs.
The Corvus Score provides a comprehensive measure of IT security for clients.
Corvus offers application-free, click-and-bind renewals to streamline broker operations.

Upsides

Increased demand for AI-driven risk assessment tools boosts Corvus's market potential.
Rising ransomware attacks heighten the need for Corvus's cybersecurity insurance.
Expansion of Tech E&O services presents growth opportunities for Corvus.

Funding

Total raised$156.41 M
Latest valuation$435.00 M
StageACQUISITION
ACQUISITION
10/31/2023
$435
$435.00 M
SERIES B
12/31/2019
$32
$159.00 M
SERIES A
10/31/2018
$10
$50.00 M
$4
$20.00 M