Corvus Insurance
Founded Year
2017Stage
Acquired | AcquiredTotal Raised
$161MValuation
$0000About Corvus Insurance
Corvus Insurance is a company that specializes in the insurance industry, with a particular focus on cyber insurance solutions. The company offers insurance products that help manage cyber risks, including data-driven risk prevention tools and consultations with their Risk Advisory team. Their primary market is businesses seeking to mitigate their cyber risk exposure. It was founded in 2017 and is based in Boston, Massachusetts. In November 2023, Corvus Insurance was acquired by The Travelers Companies.
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Corvus Insurance's Product Videos
ESPs containing Corvus Insurance
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The digital cyber insurance providers market consists of companies that provide businesses and individuals with insurance that covers cyber risks. These companies include insurtech producers (e.g., agents and brokers), insurtech managing general agents (MGAs), and full-stack insurtech carriers. Digital cyber insurance providers may also offer cybersecurity services, primarily for proactive risk ma…
Corvus Insurance named as Leader among 15 other companies, including Coalition, Cowbell Cyber, and At-Bay.
Corvus Insurance's Products & Differentiators
Smart Cyber Insurance
Data-informed coverage built for evolving threats. We combine our underwriting expertise with technology for personalized quotes, optimal pricing, and broad coverage.
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Research containing Corvus Insurance
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Corvus Insurance in 5 CB Insights research briefs, most recently on Feb 29, 2024.
Feb 9, 2024 report
State of Insurtech 2023 Report
Feb 1, 2024 report
State of AI 2023 Report
Jan 18, 2024 report
State of Fintech 2023 Report
Expert Collections containing Corvus Insurance
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Corvus Insurance is included in 7 Expert Collections, including Insurtech.
Insurtech
4,363 items
Companies and startups that use technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Cybersecurity
9,887 items
These companies protect organizations from digital threats.
Fintech
9,304 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Fintech 100
250 items
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Supply Chain & Logistics Tech
343 items
Insurtech 50
50 items
Report: https://app.cbinsights.com/research/report/top-insurtech-startups-2022/
Latest Corvus Insurance News
Sep 26, 2024
Functional Finance, a software platform transforming financial operations (FinOps) for managing general agents (MGAs), insurance companies, and wholesalers is pleased to announce the closing of a successful $20 million Series A funding round led by Walkabout Ventures (Walkabout), with participation from Munich Re Ventures and Phil Edmundson (the visionary behind Corvus Insurance). This announcement comes shortly after a period of growth for Functional Finance – which saw an increase of over 2,500% in premium payment volume year-over-year (YOY). This explosive growth underscores the increasing demand for streamlined FinOps in the insurance sector, particularly as MGAs, insurers, and wholesalers modernize and scale. Functional Finance’s platform provides comprehensive solutions that simplify invoicing, premium payments, collections, reconciliation, and more. And by automating these critical back-office functions, the platform enables insurance organizations to focus on creating new products, mitigating existing and emerging risks, and improving underwriting accuracy. Functional Finance was launched with an $8 million seed round which garnered early support from a diverse group of influential insurance and technology investors, including Walkabout, New Enterprise Associates (NEA), Altai Ventures, and Hank Greenberg’s Starr Insurance. KEY QUOTES: “Walkabout was excited to lead the Series A round because we have the utmost confidence in the vision and execution of the team since investing in its Seed Round. Since investing in Functional Finance’s seed round, the company has exceeded its early goals and milestones and continues to scale impressively in a challenging market environment. We look forward to continuing to support the team as they expand their footprint in the insurance ecosystem.” -Josh Diamond, general partner at Walkabout “We have watched Functional Finance build a platform with tremendous commercial potential. The company’s industry expertise and innovative technical approach to automating FinOps will offer the insurance industry greater flexibility and capabilities. We see significant value for many businesses up and down the value chain, including several within our own portfolio, in leveraging the Functional Finance platform.” -Ben Bergsma, principal at Munich Re Ventures “We are incredibly grateful for the continued support from our investors. This funding will allow us to accelerate our product development and invest in additional strategic hiring for engineering, product development, customer success, and operations. Ultimately, this funding will enable Functional Finance to deliver even more value for our customers and the industry.” -Rashmi Melgiri, CEO and co-founder of Functional Finance and former co-founder of CoverWallet with Functional Finance President Jim Ermilio Pulse 2.0 focuses on business news, profiles, and deal flow coverage.
Corvus Insurance Frequently Asked Questions (FAQ)
When was Corvus Insurance founded?
Corvus Insurance was founded in 2017.
Where is Corvus Insurance's headquarters?
Corvus Insurance's headquarters is located at 100 Summer Street, Boston.
What is Corvus Insurance's latest funding round?
Corvus Insurance's latest funding round is Acquired.
How much did Corvus Insurance raise?
Corvus Insurance raised a total of $161M.
Who are the investors of Corvus Insurance?
Investors of Corvus Insurance include The Travelers Companies, SiriusPoint, Aquiline Capital Partners, FinTLV, .406 Ventures and 8 more.
Who are Corvus Insurance's competitors?
Competitors of Corvus Insurance include Cowbell Cyber and 7 more.
What products does Corvus Insurance offer?
Corvus Insurance's products include Smart Cyber Insurance and 2 more.
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Compare Corvus Insurance to Competitors
Resilience specializes in cyber risk management and insurance solutions within the cybersecurity industry. The company offers cyber insurance, risk management services, and technology errors and omissions (E&O) insurance to help organizations mitigate and manage cyber threats. Resilience's solutions are designed to enhance cyber resilience by integrating risk mitigation, risk acceptance, and risk transfer strategies. It was founded in 2016 and is based in San Francisco, California.
Counterpart is a management liability platform specializing in the insurance sector. The company offers a range of liability insurance products including coverage for directors and officers, employment practices, fiduciary responsibilities, and commercial crime, as well as professional liability insurance. Counterpart also provides business services such as risk assessment, claims management, and HR compliance tools, primarily serving small businesses and insurance brokers. It was founded in 2019 and is based in Covina, California.
Coalition is a provider of Active Insurance focused on cyber risk management and digital security within the insurance industry. The company offers cyber insurance coverage, monitoring services, and incident response assistance to protect businesses from cyber threats. Coalition's services are targeted towards various sectors that require cybersecurity measures and insurance solutions. It was founded in 2017 and is based in San Francisco, California.
Cowbell Cyber specializes in providing cyber insurance solutions within the insurance industry. The company offers cyber coverage tailored to small and medium-sized enterprises (SMEs), utilizing artificial intelligence for continuous risk assessment and underwriting. Cowbell Cyber's products are designed to assist businesses in managing cyber risks through a closed-loop approach, including risk prevention, mitigation, and incident response services. It was founded in 2019 and is based in Pleasanton, California.
Eye Security provides cybersecurity solutions for various business sectors, focusing on protecting companies from cyber threats. Its main offerings include managed extended detection and response (xDR) services, round-the-clock incident response, and cyber insurance to ensure business continuity. Eye Security caters to a wide range of industries, including logistics, manufacturing, professional services, and healthcare. It was founded in 2020 and is based in The Hague, Netherlands.
Embroker is a digital insurance brokerage firm specializing in business insurance solutions across various industries. The company offers a range of commercial insurance packages, including professional liability, cybersecurity, and directors and officers insurance, tailored to meet the specific needs of businesses. Embroker primarily serves sectors such as startups, law firms, tech companies, and financial services. It was founded in 2015 and is based in San Francisco, California.
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