Corvus Insurance Unveils Corvus Signal, a Cyber Risk Prevention Solution Shown to Reduce Cyber Breaches
Corvus Insurance, the leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, today unveils Corvus Signal™, the risk prevention solution that brings together brokers, policyholders, and Corvus security experts in partnership. Corvus Signal has been shown to reduce cyber breach frequency and cost by up to 20 percent.
The announcement comes amid increasing market activity and interest in combining cyber insurance with risk management services. Corvus Signal is the only solution in the market that demonstrates such an approach can bend the loss curve. For more than three years, the Corvus team, in close partnership with insurance brokers, has worked to provide a proactive and tailored cyber risk prevention solution to thousands of organizations. Policyholders engage with the solution at a rate three times higher than the cyber insurance industry average, thanks to the bespoke scan findings, threat insights, and recommendations.
“We have significantly reduced our vulnerability footprint since we engaged with Corvus. Corvus’s Risk Dashboard provides a great snapshot of insightful information for securing our network,” said a director of IT at a mid-sized healthcare services company. “Even better, Corvus takes a lot of the pain away in locating vendors who can assist in closing the security gaps, which is critical for growing our network security and security awareness program. Corvus remains relevant to our network security growth and security awareness program.”
Corvus Signal™ includes:
- Risk Insights: Always-on threat intelligence and targeted alerts for the enterprise are delivered the same day a new threat is discovered. Organizations who receive alerts patch their systems three times faster than others and receive an average of two weeks’ advance notice before alerted threats are exploited in the wild.
- Risk Advisory: Personalized security advice from Corvus experts helps organizations to focus their efforts and investment on relevant security priorities thanks to clear insights on security ROI. These engagements help to smooth the policy renewal process in addition to improving overall security.
- Risk Dashboard: A proprietary platform that gives 24/7 access to scan findings, threat alerts, and self-guided security assessments. Organizations can log in and take immediate action on tailored recommendations, and get personalized introductions to Corvus-vetted security and incident response vendors.
“We found, through extensive experience working with policyholders, that a partnership-based approach combining personalized cyber threat insights and risk advisory services is the most effective way to curb cyber risk for organizations,” said Jason Rebholz, Chief Information Security Officer at Corvus Insurance. “The impressive results we’ve observed serve as validation that our approach holds up through major shifts in cyber attack trends, and are a significant factor in driving Corvus’s industry-leading loss ratio.”
In addition to driving down risk for individual organizations, Corvus Signal has been instrumental in Corvus achieving a U.S. industry-leading loss ratio of 36% in 2022, which the company announced earlier this month. Corvus is now exploring incentives to reward policyholders and brokers who engage with Corvus Signal.
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