(Image credit: Kevin Mueller/Unsplash.)
Corvus Insurance (Boston), a specialty insurance MGA offering Smart Commercial Insurance products powered by AI-driven risk data, has announced that Prashanth Gangu has joined as President of the company. Gangu has more than 20 years of experience in the insurance industry across strategy, M&A, distribution, product, underwriting, risk, operations, and technology. He reports to Corvus CEO, Madhu Tadikonda, and joins the executive leadership team.
Gangu was most recently at SiriusPoint, where he was President of the Insurance & Services division and COO. Previously, he was a Partner and Head of Americas P&C Insurance at Oliver Wyman, a Marsh McLennan company.
In his new role as President of Corvus, Gangu aims to build on the company’s underwriting foundation and drive profitable growth. He will oversee sales, underwriting, actuarial, data science, claims, and risk capital functions. He joins Corvus to lead a major push to grow the company on the back of a strong year, according to a company statement. In 2022, Corvus reports that it grew cyber premiums by 80 percent while achieving an industry-leading loss ratio in the mid-30s. Corvus was also named #2 on Forbes list of America’s Best Startup Employers 2023.
“Corvus has demonstrated that you can achieve exceptional underwriting results by excelling in both parts of InsurTech—traditional insurance expertise combined with cutting edge data and analytics—while protecting policyholders in an evolving risk landscape,” comment Gangu. “I’m excited to be on board to build on the existing Corvus platform while helping policyholders, brokers, and (re)insurers face and mitigate the rapidly evolving threats and cyber risks to the core digital assets and online operations of today’s businesses.”
Resilient Tech-Driven Underwriter
“After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio,” comments Tadikonda. “This is the time when the strong, durable, resilient tech-driven insurance underwriters will emerge, and we are thrilled to have Prashanth join the team to drive the next stage of our ambitious journey.”