(Image credit: Alexas Fotos.)
Corvus Insurance, a Boston-based provider of smart commercial insurance products powered by AI-driven risk data, announced that it has acquired tech-focused MGA Wingman Insurance (Cambridge, Md.) as part of an acquisition strategy to accelerate growth. Wingman provides a tech platform for admitted Cyber and Tech E&O coverage in all 50 states and D.C., and will continue to operate as an independent brand and offering.
“The addition of Wingman into the Corvus fold represents a key milestone in the growth of our company,” comments Phil Edmundson, founder and CEO, Corvus Insurance. “By expanding our footprint in the small and midsize business market and creating the ability to white label our solutions as we further explore multiple product lines, this addition creates new opportunities for Corvus as we launch an acquisition strategy and continue organic growth.”
The acquisition of Wingman follows Corvus’s raising of $115 million in a Series C funding round led by global venture capital and private equity firm Insight Partners (New York). The firm reports that it is on pace to double its employee headcount within the year.
Empowering Brokers with Intuitive Tools
“Corvus and Wingman share a like-minded philosophy around the need to create technology and software that empower brokers with intuitive tools that reduce administrative work and provide insight to better understand and inform their clients on complex risks,” comments G. Philip Feldman, founder and CEO of Wingman Insurance. “We’re excited to join the Corvus team as we together transform an industry through technology, data science and simplicity while continuing our commitment and passion for personal service.”