Corvus Insurance, an AI-powered cyber specialty insurer, has announced the appointment of Prashanth Gangu as President of the company.
Gangu is a veteran of the insurance industry with more than two decades of industry experience across strategy, mergers and acquisitions, distribution, product, underwriting, risk, operations, and technology.
In his new role as President of Corvus, he will oversee sales, underwriting, actuarial, data science, claims, and risk capital functions, building on the company’s strong underwriting foundation to drive profitable growth.
He will report to the company’s CEO, Madhu Tadikonda, who commented: “After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio.
“This is the time when the strong, durable, resilient tech-driven insurance underwriters will emerge, and we are thrilled to have Prashanth join the team to drive the next stage of our ambitious journey.”
Prior to Corvus, Gangu served at SiriusPoint as Chief Operating Officer and President of its insurance & services division. Prior to this, he was Partner and Head of Americas P&C insurance at Oliver Wyman, a Marsh McLennan company.
Hejoins Corvus to lead a major push to grow the company on the back of a strong year. In 2022, Corvus grew cyber premiums by 80%while achieving an industry-leading loss ratio in the mid-30s. Corvus was also named #2 on Forbes list of America’s Best Startup Employers 2023.
“Corvus has demonstrated that you can achieve exceptional underwriting results by excelling in both parts of insurtech – traditional insurance expertise combined with cutting edge data and analytics – while protecting policyholders in an evolving risk landscape,” said Gangu.
“I’m excited to be on board to build on the existing Corvus platform while helping policyholders, brokers, and re/insurers face and mitigate the rapidly evolving threats and cyber risks to the core digital assets and online operations of today’s businesses.”
