The latest enhancements integrated into the Corvus Risk Navigator platform leverage artificial intelligence to provide real-time suggestions during the underwriting process. These suggestions are based on a range of data, including firmographics, threat intelligence, claims information, and peer benchmarking.
Leveraging large language models and natural language processing, the updates bring notable workflow efficiencies to the platform. This includes automated industry verification, streamlined application intake, and instant guideline validation.
Corvus expects that these new additions will significantly reduce the workload on Corvus underwriters, ultimately leading to increased efficiency and a loss ratio below 40 percent.
Mike Karbassi, Chief Underwriting Officer at Corvus, said the company’s goal of equipping their underwriting team with advanced technology to automate routine tasks. This enables underwriters to dedicate more time to value-driven activities, resulting in accelerated growth and increased book value for Corvus and its partners.
The integration of AI-driven enhancements in the Corvus Risk Navigator platform further solidifies Corvus Insurance’s position as a leader in the cybersecurity insurance market.
About Corvus Insurance: Corvus Insurance is a prominent cyber underwriter specialising in providing innovative insurance solutions. With a strong focus on leveraging advanced technologies, Corvus aims to protect businesses from cyber risks and empower underwriters through streamlined and efficient platforms.
