Deal cements Corvus as the world's leading Cyber InsurTech underwriter
Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, today announced that it has acquired Tarian Underwriting Limited from Beat Capital Partners Ltd. Tarian is the leading cyber underwriting platform providing market-leading solutions to an ever-changing cyber risk environment and underwrites on behalf of a consortium of Lloyd's syndicates.
Based in London, Tarian's international footprint covers the UK, US, Middle East, Canada, and Australia. With this deal, Corvus has become the first Cyber InsurTech to acquire a London underwriting platform, instantly providing global underwriting capabilities and access to Lloyd's cyber insurance capacity. Tarian will be rebranded as Corvus Underwriting Limited.
"Corvus is now the world's leading Cyber InsurTech. By bringing Tarian into the Corvus fold, we are expanding our international footprint into Europe, Africa and Australia with an experienced and proven team of underwriters," said Phil Edmundson, Founder and CEO of Corvus Insurance. "Tarian has expanded its capacity for 2022, which is a testament to its underwriting discipline and strategy. We are thrilled to continue this growth and to bring the entire Tarian team on board, as they share our mission to make the world a safer place."
The team at Tarian has been creating tailored solutions for cyber and technology insurance risks since 2016. Capitalizing on Tarian's wide international footprint, Corvus is unlocking a new strategic opportunity for expansion and entering the international market to underwrite cyber insurance policies globally.
"We founded Tarian as a group with extensive market experience that saw an opportunity to set up a customer-centric company that was focused on entrepreneurial and tailored solutions to improve the standard of cyber and technology insurance risk," said Geoff Pryor-White, CEO of Tarian. "Now as a part of Corvus, and with greater access to its data-driven insurance technologies, we can continue our founding mission and support our policyholders as one, dynamic team."
"Beat businesses are formed around leading underwriting talent, and Tarian was one of our very first investments. We are pleased to support the acquisition of Tarian by Corvus. We recognize that in the dynamic world of cyber insurance, the importance of combining underwriting talent with technological investment has become increasingly apparent," said John Cavanagh, Chairman at Beat Capital. "The data-driven, cyber technologies of the Corvus Risk Aggregation Platform will provide the Tarian team with best-in-class technology to support its differentiated underwriting proposition."
Corvus is coming off tremendous growth in 2021. Following its $115M Series C funding round in the spring, Corvus strategically appointed new c-suite executives and announced a new Risk Aggregation PlatformSM to address systemic cyber risk aggregations.
For more information about Corvus, visit corvusinsurance.com.
About Corvus Insurance
Corvus Insurance is building a safer world through smart insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Corvus offers market-leading specialty insurance products enabled by advanced data science, while its digital platforms and tools facilitate efficient quoting, binding, and proactive risk mitigation. Corvus was founded in 2017 by a team of veteran entrepreneurs from the insurance and technology industries and is backed by investors that include Bain Capital Ventures, Insight Partners, Aquiline Technology Growth and FinTLV. Insurance program partners include Accredited, AXIS Capital, Crum Forster, Hudson Insurance Group, SiriusPoint, and Skyward Specialty Insurance. Corvus Insurance is headquartered in Boston, Massachusetts with offices across the United States.
About Tarian Underwriting Limited
Tarian Underwriting Limited until its acquisition by Corvus was part of Beat Capital Partners. Formed in 2016, Tarian is a specialist underwriter of cyber and technology errors omissions insurance products. Tarian's underwriters have been granted authority by Beat Syndicate 4242 which allows them to write on behalf of a consortia of Lloyd's syndicates as Syndicate underwriters. Lloyd's maintains an A or A+ rating among the top rating agencies.
About Beat Capital Partners
Beat Capital Partners ("Beat") was incorporated in May 2017 as a long duration venture capital investor exclusively focused on the insurance industry. Beat offers the right teams start-up funding, infrastructure, risk capital and A+ rated paper plus experienced guidance and support. Beat backs certain start-up teams and seeks partnership opportunities involving existing portfolios, platforms, or technologies, where our expertise brings value.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005159/en/
Contacts:
Lisa van der Pool
corvus@inkhouse.com
