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Corvus Insurance

“Can AI-driven cyber risk scanning become the underwriting engine for the world's largest commercial cyber insurer?”

Founded2017
HQBoston, MA
Total raised$162M (pre-acquisition)
Latest roundAcquired by Travelers, Nov 2023 (~$435M)
Valuation$435M (acquisition price)
IndustryFintech / Insurtech
The story

Corvus was founded in 2017 as a data-driven MGA writing Smart Cyber Insurance and Smart Tech E&O, backed by an AI cyber-risk scanning platform (CrowBar / Cyber Risk Dashboard). It scaled through wholesale broker API distribution partnerships and raised $162M before being acquired by Travelers in November 2023 for ~$435M. Post-acquisition, Corvus has been folded into Travelers' specialty cyber underwriting operation, with policies now written on Travelers surplus lines paper and privacy/terms served from travelers.com.

Last 12 months
2023-11
Product timeline
2017
Founded as an AI-driven commercial cyber insurance MGA.· launch
2019
Series B ($32M) led by Telstra Ventures.· funding
2020
Launched Corvus Enterprise API for wholesale broker distribution partnerships.· product
2021
$100M Series C led by Insight Partners at $750M valuation.· funding
2023
Acquired by The Travelers Companies for ~$435M.· acquisition
2024
Rebranded as 'Corvus by Travelers'; underwriting moved to Travelers surplus lines paper.· pivot
Regulated entities
1
regulatory licence held by Corvus Insurance
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Corvus Insurance’s embedded-finance stack
Insurance
Corvus Insurance Agency (in-house MGA)Travelers Excess and Surplus Lines Company (in-house carrier)Accredited Specialty Insurance Company (legacy carrier paper)
Accounting gap: none

Corvus Insurance — frequently asked

Which insurance provider does Corvus Insurance partner with?

Corvus Insurance's embedded insurance is provided by Corvus Insurance Agency (in-house MGA), Travelers Excess and Surplus Lines Company (in-house carrier) and Accredited Specialty Insurance Company (legacy carrier paper).

Where is Corvus Insurance headquartered?

Corvus Insurance is founded in 2017 and headquartered in Boston, MA.

How much funding has Corvus Insurance raised?

Corvus Insurance has raised $162M (pre-acquisition) in total (latest round: Acquired by Travelers, Nov 2023 (~$435M); valuation: $435M (acquisition price)).

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