Cyber MGA Corvus Insurance has unveiled Corvus Signal, a risk prevention solution which the firm says has been shown to reduce cyber breach frequency and cost by up to 20%.
Corvus states that the announcement comes amid increasing market activity and interest in combining cyber insurance with risk management services.
“Corvus Signal is the only solution in the market that demonstrates such an approach can bend the loss curve,” the firm explains.
The Corvus team, in close partnership with insurance brokers, has worked for over three years to provide a “proactive and tailored” cyber risk prevention solution to thousands of organizations.
Corvus suggests that policyholders engage with the solution at a rate three times higher than the cyber insurance industry average, thanks to the bespoke scan findings, threat insights, and recommendations.
According to the firm, a director of IT at a mid-sized healthcare services company commented, “We have significantly reduced our vulnerability footprint since we engaged with Corvus. Corvus’s Risk Dashboard provides a great snapshot of insightful information for securing our network.
“Even better, Corvus takes a lot of the pain away in locating vendors who can assist in closing the security gaps, which is critical for growing our network security and security awareness program. Corvus remains relevant to our network security growth and security awareness program.”
Jason Rebholz, Chief Information Security Officer at Corvus Insurance, said, “We found, through extensive experience working with policyholders, that a partnership-based approach combining personalized cyber threat insights and risk advisory services is the most effective way to curb cyber risk for organizations.
“The impressive results we’ve observed serve as validation that our approach holds up through major shifts in cyber attack trends, and are a significant factor in driving Corvus’s industry-leading loss ratio.”
The firm states that Corvus Signal was instrumental in achieving a U.S. industry-leading loss ratio of 36% in 2022, and is now exploring incentives to reward policyholders and brokers who engage with Corvus Signal.
