Policyholders who partner with the Corvus Signal™ risk prevention solution receive a discount on their claim retention.
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today launched a first of its kind endorsement to help make policyholders safer through proactive engagement with Corvus Signal™, the cyber risk prevention solution shown to reduce the frequency and costs of cyber breaches by up to 20%. The Corvus Signal™ endorsement reduces the self-insured claim retention on a policy by 25%, subject to a maximum cap based on the program, for policyholders who engage with the security tools available in Corvus Signal™.
“Corvus’s risk prevention solution, Corvus Signal, is a perfect complement to our goal at Alliant of being a proactive advisor for all of our clients,” said John Loftus, Co-Cyber Product Leader at Alliant Insurance. “The tailored alerts to at-risk clients and continuous threat monitoring provide a new layer to traditional risk transfer that has become essential for organizations looking to stay afloat in the current threat landscape.”
When policyholders engage with Corvus Signal™, they not only save money should they have a claim, but also receive immediate recommendations on how to prioritize and implement security controls. Corvus continuously monitors for emerging threats, 365 days a year, and is able to use policyholder-supplied information to drive tailored alerting capabilities. The company provides policyholders with the resources they need to improve their security posture.
“Corvus is the trusted, long-term cyber risk partner for our policyholders. We are constantly monitoring emerging threats and using the signals and data we have to recommend actionable measures to prevent cyber attacks,” said Lauren Winchester, Global Head of Risk Advisory at Corvus Insurance. “This endorsement incentivizes meaningful engagement with Corvus, which in return allows for more tailored guidance and alerting, maximizing the ROI on current and future security investments.”
In addition to driving down risk for individual organizations, Corvus Signal™ has been instrumental in Corvus achieving a U.S. industry-leading loss ratio of 36% in 2022, which the company announced last month.
To learn more about Corvus Signal™ and how to save money and improve security with the endorsement program, visit www.corvusinsurance.com/corvus-signal.
About Corvus Insurance
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® and Smart Tech E+O™. Our digital platforms and tools enable efficient quoting and binding and proactive risk mitigation. Corvus Insurance offers insurance products in the U.S., Middle East, Europe, Canada, and Australia. Current insurance program partners include Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and The Travelers Companies, Inc. 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 U.S., in the UK, and Germany. For more information, visit corvusinsurance.com.
Eligibility for the Corvus Signal™ endorsement is determined during the underwriting process. Policy quotes, terms and conditions, and premiums are based on the individual submission and in accordance with Corvus Insurance’s underwriting guidelines. The policy and endorsement will form the contract between the insured and our insurance carrier partners. Coverage or endorsement may not be applicable for all programs or available in all jurisdictions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230621105215/en/
Contacts
Inkhouse PR, Jen Weber
corvus@inkhouse.com
