Cyber MGA Corvus Insurance has unveiled Corvus Signal, a risk prevention solution that the company says has been shown to reduce the frequency and cost of cyber breaches by up to 20%.
Corvus stated that the announcement comes amid increasing market activity and interest in integrating cyber insurance with risk management services.
“Corvus Signal is the only solution on the market that features such a method that can fold the loss curve,” the company explained.
The Corvus team, in close collaboration with insurance brokers, has been working for more than three years to provide a “proactive and tailored” cyber risk prevention solution to thousands of organizations.
Corvus suggests that policyholders engage with the solution at a rate three times higher than the industry average for cyber insurance, thanks to advanced scans, threat insights, and recommendation.
According to the company, an IT director at a mid-sized healthcare services company commented, “We have significantly reduced our vulnerability footprint since we partnered with Corvus. Corvus’s Risk Dashboard provides a good snapshot of meaningful information for securing our network.
“However, Corvus is taking a lot of pain to find vendors that can help close security gaps, which is essential for growing our network security and security awareness program. Corvus remains relevant in our network security growth and security awareness program.”
Jason Rebholz, Chief Information Security Officer at Corvus Insurance, said, “We have found, through extensive experience working with policyholders, that a partnership-based approach that combines personalized cyber threat insights and risk advisory services are the most effective way to prevent cyber risk for organizations.
“The impressive results we’ve observed serve as validation that our approach continues through major changes in cyber attack trends, and is a key factor driving the industry-leading loss ratio of Corvus.”
The company says Corvus Signal has helped it achieve an industry-leading US loss ratio of 36% by 2022, and is now exploring incentives to reward policyholders and engaged brokers. of Corvus Signal.
