Artificial intelligence-powered cyber underwriter Corvus Insurance has expanded its partnership with personal, business and speciality insurance provider Travelers.

As per the latest cyber underwriting deal, Travelers will act as a capacity provider for Corvus’s products in the US as of 1 October 2023. 

The parties entered a similar collaboration for the continental European market in 2022.

As per the 2022 partnership, Travelers supports the Corvus Smart Cyber Insurance offering in continental Europe. 

This deal focuses on offering customised coverage, service and handling of risks and intends to facilitate enterprises to operate in digital settings.

Corvus Smart Cyber Insurance offers customised cyber insurance tools for policyholders and brokers apart from the cyber underwriting capabilities of both companies.

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By GlobalData

Corvus Insurance CEO Madhu Tadikonda said: “Travelers has an unmatched reputation, extensive knowledge of the cyber insurance market and an intimate understanding of the complexities surrounding the evolving cyber landscape. 

“Combining our expertise and shared approach to data-driven underwriting and risk mitigation will enable us to offer customers an even stronger suite of products and services.”

Corvus’ portfolio comprises speciality insurance solutions that leverage data science and comprise Smart Cyber Insurance and Smart Tech E+O. 

Its digital platforms and tools also facilitate quoting and binding processes as well as eliminating risks. 

The company presently delivers insurance products in the US, Middle East, Europe, Canada, and Australia.