The new collaboration will offer cyber insurance products and services to companies in Europe, focusing primary on Germany and Austria.
The European expansion of Corvus’s Smart Cyber Insurance offering, which is subject to regulatory approval, will initially target small- and medium-size businesses as well as middle market businesses with up to $977m (€1bn) revenue per year.
Corvus Insurance CEO Madhu Tadikonda said: “We’re thrilled to partner with Travelers to bring our transparent, data-driven, and expert approach to underwriting and risk mitigation to a new audience of brokers and policyholders.”
The company stated that the new offering will offer localised and ‘unmatched’ cyber insurance tools, as well as both Corvus and Travelers’ combined cyber underwriting expertise, to local brokers and policyholders.
Furthermore, Corvus intends to continue the expansion of its international business, with plans to open additional offices across the continent.
In July this year, the company opened it new office in Frankfurt, Germany, which is overseen by Corvus International head Oliver Delvos.
The new office will underwrite cyber insurance policies for small- and medium- sized businesses (SMBs) as well as larger corporations.