Cyber specialist Corvus Insurance has announced that it has expanded its Frankfurt, Germany-based team by appointing cyber underwriters and a local head of cybersecurity services.
The addition of these hires will provide support in meeting demand for Corvus’ Smart Cyber Insurance product that was recently launched in Germany and Austria in partnership with top US commercial insurance carrier – The Travelers Companies, Inc.
“We welcome this new entry to the European market, bringing more variety to meet the growing needs of customers,” said Sebastian Klapper, Founder & CEO of Finlex, a commercial insurance platform for brokers and insurers with a focus on financial lines products.
“For a risk as dynamic as cyber, our clients are looking for solutions that will enable them to accurately understand their risk and take action to prevent incidents, which is where Corvus’s data-driven underwriting excels.”
“We are proud to welcome new, strong talent to join our growing team, and leverage their extensive industry expertise, having come from trusted firms like Marsh, Victor, Chubb and AIG to work with our broker partners in Central Europe,” added Oliver Delvos, Head of International at Corvus.
“We look forward to continuing to forge relationships with more of the region’s top innovative brokerages that follow our vision for a more data-driven approach to risk assessment and underwriting than the European market has seen to date.”
Moreover, Corvus is the first US-based cyber specialty insurer to bring its insurance offering to Germany and Austria. The cyber specialist entered the region to address a market estimated to be worth €500 million in gross written premium, and in which more than 70% of small and medium-sized enterprises have never purchased a cyber policy.
Corvus confirmed that the Germany-based hires include underwriters with wide experience providing localised cyber solutions within the EU.
