SiriusPoint and R&Q expand partnership with AI-driven MGA Corvus
Specialty re/insurer SiriusPoint and programme management solution provider R&Q Accredited have expanded their underwriting partnership with AI-driven cyber managing general underwriter Corvus Insurance.
The enhanced programme, with R&Q Accredited continuing as the fronting insurer, adds an additional $100 million multi-year investment on top of the initial underwriting capacity announced in September 2021. It will allow Corvus to build upon its Smart Cyber Insurance offerings.
“Our expanded partnership with SiriusPoint and R&Q Accredited will help Corvus reach new heights,” said Phil Edmundson, founder and CEO of Corvus Insurance. “Our digital platform, the CrowBar, and the data and AI tools used by Corvus are producing superior loss ratios for our partners. Together we are building a win-win-win for our brokers, policyholders, and risk capital partners.”
Patrick Charles (pictured), global head of property & casualty, insurance & services at SiriusPoint, said: “We are delighted to expand SiriusPoint’s multi-year agreement with Corvus and to enhance our partnership to support the company’s ongoing growth. We have continued to be impressed with Corvus’s agility in responding to the evolving cyber risks its clients face, and the innovative and disciplined approach it applies to risk mitigation. We are excited about the next phase of the company’s development.”
Dawn Puro, chief underwriting officer, casualty of R&Q Accredited America, added: “We are excited to build on our partnership with Corvus. Their data- and tech-driven approach to cyber liability has already helped drive strong growth, and we are delighted to strengthen our partnership as Phil and his team continue to evolve and expand the Corvus offering."
