Prashanth Gangu Joins Corvus Insurance as President
Former SiriusPoint, Marsh & McLennan exec joins leading cyber underwriter
BOSTON, March 30, 2023--(BUSINESS WIRE)--Corvus Insurance, the leading cyber underwriter, powered by a proprietary AI-driven cyber risk platform, today welcomed Prashanth Gangu as President of the company. Gangu is a seasoned executive with more than 20 years of experience in the insurance industry across strategy, mergers and acquisitions (M&A), distribution, product, underwriting, risk, operations, and technology. He reports to the company’s CEO, Madhu Tadikonda, and joins the executive leadership team.
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Prashanth Gangu, President of Corvus Insurance (Photo: Business Wire)
Gangu was most recently at SiriusPoint, where he was President of the Insurance & Services division and Chief Operating Officer of the company. Previously, Gangu 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 strong 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. In 2022, Corvus 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," said 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."
"After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio," said Corvus’s CEO Madhu 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."
To learn more about Corvus, please visit http://www.corvusinsurance.com.
About Corvus Insurance
Corvus Insurance is building a safer world through insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Our market-leading specialty insurance products are enabled by advanced data science and include Smart Cyber Insurance® and Smart Tech E+O™. Our digital platforms and tools enable efficient quoting and binding and proactive risk mitigation. Corvus Insurance offers insurance products in the U.S., Middle East, Europe, Canada, and Australia. Current insurance program partners include Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and The Travelers Companies, Inc. Corvus Insurance, Corvus London Markets, and Corvus Germany are the marketing names used to refer to Corvus Insurance Agency, LLC; Corvus Agency Limited; and Corvus Underwriting GmbH. All entities are subsidiaries of Corvus Insurance Holdings, Inc. Corvus Insurance was founded in 2017 and is headquartered in Boston, Massachusetts with offices across the U.S., in the UK, and Germany. For more information, visit corvusinsurance.com.
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Inkhouse PR, Jen Weber