Corvus Insurance, a cyber underwriter powered by proprietary AI-driven cyber risk platform, has named Prashanth Gangu as president of the company.
Corvus’s vision is a safe world built through insurance products and digital tools that reduce risk, increase transparency and improve resilience for policyholders and programme partners.
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.
In his new role as president, Corvus said 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.
The cyber underwriter added that he joined the company to lead a major push to grow the company on the back of a strong year.
In 2022, Corvus grew cyber premiums by 80% while achieving an industry-leading loss ratio in the mid-30s.
Gangu said, “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.
“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.”
Madhu Tadikonda, Corvus’s CEO, added, “After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio,” said “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.”
Last year, Corvus Insurance opened a continental Europe office in Frankfurt, Germany.
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