Corvus Insurance
Corvus Insurance is a specialized cyber insurance provider offering innovative cyber risk management solutions. As a subsidiary of Travelers Insurance, Corvus combines market-leading innovation with proven financial stability. The company’s core offerings include Smart Cyber Insurance® and Smart Tech E+O® products, backed by Travelers’ financial strength. Corvus distinguishes itself through its data-driven approach, leveraging proprietary intelligence and AI-driven data to guide underwriting decisions and provide real-time risk assessment.
Corvus Insurance
Smart Cyber Insurance
Corvus Insurance
Smart Cyber Overview
Corvus Insurance offers Smart Cyber Insurance®, a comprehensive solution designed to address the evolving landscape of cyber risks. This innovative product combines the financial strength of Travelers A++ paper with cutting-edge underwriting practices and proactive risk prevention services. Information is current as of the date of the document.
Coverage and Limits
- Primary and Excess Cyber risks for organizations with up to $5B in gross annual revenue
- Policy limits up to $10M
- Broad 1st Party & 3rd Party Insuring Agreements
Enhanced Protection
- Contingent Business Interruption with Full Policy Limits
- System Failure coverage
- Cyber Crime and Social Engineering Protection
- Bodily Injury and Media Liability coverage
- Online and Offline Coverage
- Reputational Loss Coverage
- Full Prior Acts
Eligible Risk Classes
Corvus caters to a wide range of industries, including:
- Healthcare
- Retail
- Manufacturing
- Financial Institutions
- Education
- Professional Services
Unique Selling Points
Comprehensive Risk Management
- Personalized cyber threat alerts for all policyholders
- On-call guidance from cybersecurity experts
- Prioritized security recommendations via the Policyholder Risk Dashboard
Flexible Underwriting
- Experienced underwriting team offering hands-on partnership
- Adaptable approach to accommodate complex risks
Claims Expertise
In-house claims team with decades of combined experience
Incentivized Risk Reduction
Retention reduction endorsement, offering a 25% reduction in self-insured retention (up to $25,000) for policyholders who engage with Corvus services
About Corvus
Corvus Insurance, a wholly owned subsidiary of Travelers Insurance, is committed to building a safer world through innovative insurance products. Their Smart Cyber Insurance® and Smart Tech E+O offerings combine broad coverage with proactive risk prevention services, including threat alerts and support from in-house cybersecurity experts.
By leveraging advanced underwriting techniques and providing comprehensive risk management tools, Corvus aims to insure against cyber risks and actively works to prevent cyberattacks. This approach offers policyholders a robust defense against the ever-evolving landscape of digital threats, making Corvus Smart Cyber Insurance® a compelling choice for organizations seeking comprehensive cyber risk protection.
Corvus Insurance
Corvus Signal
Corvus Insurance
Corvus Signal – Risk Prevention
Corvus Signal: Cutting-Edge Cyber Risk Prevention
Corvus Signal is a comprehensive risk prevention solution designed to help organizations stay ahead of emerging cyber threats. This innovative platform, available at no cost to Corvus policyholders, has been proven to reduce the impact of cyber incidents by 20%.
Key Features and Benefits
Risk Insights
- Personalized threat monitoring and alerting
- Dark web monitoring for early threat detection
- Cyber alerts are delivered directly to your inbox
- Third-party risk reports for vendors and partners upon request
Risk Dashboard
- Centralized access to the latest advice and security recommendations
- Visibility and control over security priorities
- Enables focused efforts on the most critical risks
Vendor Marketplace
- Database of pre-vetted security vendors
- Discounts available for some vendors to Corvus policyholders
Advisory Services
- Partnership-based approach with personalized risk insights
- Access to Corvus’ in-house team of cybersecurity experts
- Guidance available via email, call, or through the Risk Dashboard
Impressive Statistics
- 20% lower frequency and cost of cyber breaches
- 15.5 days average head start before alerted vulnerabilities are exploited
- 3x faster patching, with cyber alerts, sent the same day as the discovery
- Only 12% of researched threats result in alerts, of which 82% are later exploited
Policyholder Journey
1. Introductory Call: Deep dive into policy benefits and IT environment
2. Cyber Advice: On-demand guidance from cyber experts
3. Optimized Spend: Investment recommendations and access to pre-vetted vendors
4. Renewal Prep: Proactive preparation for policy renewal
Corvus Black Services:
- Incident Response Plan Review with Corvus Experts
- Virtual Incident Response Tabletop exercise (two hours)
Corvus Signal offers a robust, data-driven approach to cyber risk prevention. Combining personalized insights, expert guidance, and cutting-edge technology empowers organizations to effectively prioritize their cybersecurity efforts and reduce their vulnerability to emerging threats.
Corvus Insurance
Smart Tech E&O
Corvus Insurance
Smart Tech E&O
Corvus Insurance offers Smart Tech E+O® policies, combining Travelers A++-rated paper with expert underwriting and comprehensive risk prevention solutions. These policies cater to a wide range of organizations, from SMEs to those with $2B in annual revenue.
Smart Tech E&O Features
- Broad Coverage: The policies provide extensive third-party liability coverage for technology services and products and miscellaneous professional liability exposures.
- Cyber Protection: Comprehensive first and third-party cyber liability coverage is included, along with full policy limits for cyber extortion, ransomware, system failure, and contingent business interruption.
- Additional Protections: The policies also cover cybercrime, social engineering, invoice manipulation, and media liability (both online and offline).
Risk Prevention Services
Corvus offers several risk prevention services to all policyholders:
- Personalized cyber threat alerts
- On-call guidance from cybersecurity experts
- Prioritized security recommendations via a Policyholder Risk Dashboard
- A Retention Reduction Endorsement, which can reduce the retention by 25% (up to $25K) for engaged policyholders
Excess Coverage
Corvus also provides follow-form excess coverage, which includes access to their Risk Prevention Services. These services have been shown to reduce the frequency and cost of cyber breaches by 20% for engaged policyholders.
Underwriting and Claims
Corvus emphasizes its hands-on partnership approach, with a team of experienced underwriters and an in-house claims team with decades of combined experience.
Appetite and Eligibility
Corvus targets primary and excess risks, earning up to $2B in gross annual revenue and offering limits of up to $5M. Eligible classes include IT consultants, data analytics firms, IT staffing firms, telecommunication service providers, software developers, digital advertising agencies, and other technology-related businesses.
About Corvus
Corvus Insurance, a wholly owned subsidiary of Travelers Insurance, aims to build a safer world through insurance products that help reduce cyber risk. It offers products in the U.S., the Middle East, Europe, Canada, and Australia. The company operates under various names, including Corvus Insurance Agency, LLC, Corvus Agency Limited, and Corvus Underwriting GmbH.
Corvus Insurance’s Smart Tech E+O® policies offer comprehensive coverage tailored to technology businesses. They combine robust cyber protection with proactive risk prevention services to create a more secure digital environment for policyholders.
Corvus Cyber Insurance
Corvus Insurance is a specialized cyber insurance provider that focuses on delivering comprehensive cyber risk management solutions. As a subsidiary of Travelers Insurance, Corvus combines innovative technology with expert knowledge to offer tailored cyber insurance products and services.
Company Overview
Corvus Insurance stands out in the cyber insurance market due to its data-driven approach and commitment to managing cyber risk. The company leverages proprietary intelligence, which includes millions of data points from various sources such as claims, public web information, and the latest cyber threat intelligence. This extensive data collection allows Corvus to provide more accurate risk assessments and tailored insurance solutions.
Expert Team
One of Corvus’s key strengths is its team of cyber underwriting experts. These professionals work closely with brokers to customize each quote and find solutions for complex risks. This collaborative approach ensures that clients receive fast, accurate, and fully customized coverage that addresses their specific needs.
Risk Advisory Services
Corvus offers unlimited consultations with its Risk Advisory team beyond traditional insurance. This service is included with every policy, providing policyholders with expert guidance on new threats and assisting in optimizing their security spending.
Cyber Insurance Offering
Corvus’s primary products are Smart Cyber Insurance® and Smart Tech E+O®, designed to provide comprehensive coverage for cyber risks.
- Data-Driven Quotes: Corvus utilizes real-time, AI-driven data to guide underwriting decisions. This approach incorporates threat intelligence, firmographics, industry insights, claims history, and peer benchmarking to provide accurate and competitive quotes.
- Continuous Threat Monitoring: Every cyber insurance policy includes ongoing threat monitoring to identify emerging risks and potential vulnerabilities that attackers might exploit.
- Tailored Alerts: Corvus provides personalized alerts focused on the risks most relevant to each client’s business. These alerts are typically sent two weeks before a potential exploit, giving clients time to take preventive action.
- 24/7 Incident Response: Policyholders have access to a 24/7 cyber claims hotline, connecting them with cybersecurity incident response experts at any time. This service helps clients understand the necessary steps to take during an incident and accelerates recovery in the event of a cyber insurance claim.
Corvus Risk Dashboard
A unique aspect of Corvus’s offering is the Corvus Risk Dashboard. This platform simplifies risk management for policyholders by providing:
- Real-time visibility into security posture and cyber hygiene
- Emerging threat information
- Security recommendations
- Claims management
- Access to a trusted vendor marketplace
The dashboard is updated monthly with security scan results and offers personalized alerts on emerging threats, making it a valuable tool for ongoing risk management.
Unique Value Proposition
Corvus Insurance differentiates itself in the cyber insurance market through several key factors:
Technology-Driven Approach
Corvus’s use of AI and real-time data for risk assessment and underwriting sets it apart from traditional insurers. This approach allows for more accurate pricing and risk management.
Comprehensive Risk Management
Rather than just providing insurance coverage, Corvus offers a holistic approach to cyber risk management. Comprehensive Risk Management includes continuous monitoring, tailored alerts, and access to expert advisors, helping clients actively reduce their cyber risk.
Simplified Renewal Process
Corvus has streamlined the renewal process. For most accounts, no application is required for renewals; for others, only a few questions need to be answered. This efficiency saves time for clients.
Education and Resources
Corvus is committed to expanding cyber expertise among its clients. The company provides the latest insights on emerging threats, cyber incidents, and risk prevention services, helping build knowledge and preparedness in cybersecurity.
Flexible and Customized Solutions
The company’s collaborative underwriting approach allows for tailored solutions to complex risks, making cyber insurance accessible to a broader range of businesses.
Corvus Insurance offers a modern, technology-driven approach to cyber insurance that goes beyond traditional coverage. By combining expert knowledge, data-driven insights, and comprehensive risk management tools, Corvus provides a unique and valuable solution for businesses seeking to manage their cyber risks effectively.
This description provides general information on cyber insurance and does not cover all specifics; actual coverage will depend on the terms of your individual policy.
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Corvus Insurance | Smart Cyber
Corvus Insurance is a specialized cyber insurance provider offering innovative cyber risk management solutions. As a subsidiary of Travelers Insurance, Corvus combines market-leading innovation with proven financial stability. The company’s core products, Smart Cyber Insurance® and Smart Tech E+O® are designed to address the complex and evolving landscape of cyber threats businesses face today.
What sets Corvus Insurance apart is its data-driven approach to cyber insurance. The company leverages proprietary intelligence, which includes millions of data points from claims, public web sources, and the latest cyber threat intel, to provide more accurate risk assessments. This approach enables Corvus to offer policyholders tailored coverage, real-time threat monitoring, and personalized alerts. Additionally, Corvus provides a comprehensive risk management platform called the Corvus Risk Dashboard, which gives policyholders visibility into their security posture, emerging threats, and cybersecurity recommendations. The company also stands out for its collaborative underwriting process, on-demand risk advisory services, and 24/7 incident response support, all of which contribute to a more holistic approach to cyber risk management.