Acquisition enables Corvus to enter the admitted coverage marketplace and increase digital platform partnerships
BOSTON, August 05, 2021--(BUSINESS WIRE)--Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, today announced that it has acquired Wingman Insurance. Wingman provides a tech platform for admitted Cyber and Tech E&O coverage in all 50 states and D.C., and will continue operation as an independent brand and offering.
"The addition of Wingman into the Corvus fold represents a key milestone in the growth of our company," said Phil Edmundson, founder and CEO of Corvus Insurance. "By expanding our footprint in the small and midsize business market and creating the ability to white label our solutions as we further explore multiple product lines, this addition creates new opportunities for Corvus as we launch an acquisition strategy and continue organic growth."
To date, 2021 has been a year of noteworthy growth for Corvus, which uses data, machine learning and artificial intelligence to inform brokers and mitigate cyber risk for policyholders. Earlier this year, the Boston-based company raised $115 million in a Series C funding round led by global venture capital and private equity firm Insight Partners and is on pace to double its employee headcount within the year.
"Corvus and Wingman share a like-minded philosophy around the need to create technology and software that empower brokers with intuitive tools that reduce administrative work and provide insight to better understand and inform their clients on complex risks," said G. Philip Feldman, founder and CEO of Wingman Insurance. "We’re excited to join the Corvus team as we together transform an industry through technology, data science and simplicity while continuing our commitment and passion for personal service."
For more information about Corvus, visit corvusinsurance.com.
Corvus Insurance is the leading provider of commercial insurance products built on advanced data science, with an AI-driven approach to empowering brokers and policyholders to better predict and prevent loss. With each Smart Commercial Insurance® policy, Corvus supplies proprietary Dynamic Loss Prevention® reports to inform policyholders of critical cyber risk areas and provide actionable security recommendations. Founded in 2017 by a team of veteran entrepreneurs from the insurance and technology industries, Corvus is backed by Insight Partners, Bain Capital Ventures, .406 Ventures, Hudson Structured Capital Management, Aquiline Technology Growth, FinTLV, Telstra Ventures, Obvious Ventures, and MTech Capital. The company is headquartered in Boston, Massachusetts, and has offices across the U.S.
About Wingman Insurance
Wingman Insurance was founded to make writing technology insurance faster, smarter and easier. By combining years of underwriting experience with expertly tailored insurance products and a user-friendly policy management system, Wingman has simplified and accelerated the process for brokers and customers alike. Wingman, founded by G. Philip Feldman who spent years running a traditional insurance agency, offers Wingman Cyber, a specialty insurance product for small and medium-sized businesses to protect against loss resulting from cyber attacks and data breaches. The Wingman brand is part of the SeQure Underwriters LLC family, based in Cambridge, Maryland. To learn more about Wingman Insurance or Wingman Cyber Insurance visit us at www.wingmancyber.com.
Coverage may not be available in all states and jurisdictions. This information is for descriptive purposes only and does not provide a complete summary of coverage. Consult applicable policy for specific terms, conditions, limits, limitations and exclusions to coverage.
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Lisa van der Pool