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episode 138: Keep It Simple and Embrace Uncertainty
Philip Edmundson, founder of Corvus Insurance (recently acquired by Travelers), shares the captivating journey of Corvus, from its inception to its recent acquisition. He discusses the company's unique approach to cyber risk and its mission to revolutionize commercial insurance with advanced data science and an AI-driven approach. Philip also discusses opportunities for innovation in insurance, and gives insights into crucial startup matters such as early team building and selecting the right investors.
In this episode, you’ll learn:
[2:45] From ‘78 to 2024: How has the insurance industry evolved?
[5:03] The genesis of Corvus, and reasons for focusing on cyber insurance
[13:25] Hiring the first set of team members: lessons and tips for founders
[19:20] Notable achievements and challenges faced while building Corvus
[26:31] Advice on choosing the right investors for your startup.
[33:51] Areas of opportunity for insurtech entrepreneurs to innovate.
The non-profit organization that Phil is passionate about: Cornell Laboratory of Ornithology
About Philip Edmundson
Philip Edmundson is the founder and CEO of the insurtech company Corvus Insurance. With a background in insurance broking and tech entrepreneurship, Philip started Corvus in 2017, aiming to enhance insurance underwriting and assist policyholders in risk reduction through data and technology. Philip emphasizes that insurance should go beyond risk transfer. Before Corvus, he co-founded William Gallagher Associates, acquired by Arthur J Gallagher, and played key roles in industry networks.
About Corvus Insurance
Corvus Insurance (now a subsidiary of Travelers Insurance) is an insurance company that focuses on cyber risk, loss prevention, and mitigating adverse events using data-driven and AI-powered tools. The Corvus mission is to make the world safer from cyber threats. The company delivers insights to broker partners, helping to make them smarter about the complex risks their clients face.
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