Boston-based insurtech firm Corvus Insurance has announced the acquisition of Wingman Insurance, which provides a tech platform for cyber and tech E&O coverage across the US.
Wingman, which will retain its independent brand and offering following the acquisition, is expected to enable Corvus to enter the admitted coverage marketplace and increase its digital platform partnerships.
“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.”
Earlier this year, Corvus successfully raised $115 million in a Series C funding round led by global venture capital and private equity firm Insight Partners.
“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.”