Boston-based Corvus Insurance, an AI-driven insurance company that predicts and prevents losses for food and pharma companies, has announced the opening of its fifth location in Atlanta.
Corvus Insurance uses data from IoT sensors, videos and social media to reduce risk and improve experiences with commercial insurance policies.
When asked where the office would be located and how many positions would be added in Atlanta, a company representative said the firm is "still actively evaluating options for space in the Atlanta area and plan(s) to continue hiring in the area in coming months, in line with rapid team growth nationwide."
In addition to the new office, the company has hired Joel Fehrman, who will serve as vice president of cyber underwriting at the Atlanta office.
Fehrman joins Corvus with more than ten years of experience in insurance. He most recently worked for Beazley, and previously held roles at XL Group and CNA Financial, according to a news release. In his new role, Fehrman will focus on underwriting smart cyber insurance for clients across the Southeast.
"Corvus understands and utilizes the advantages that technology can bring to brokers, insureds, and underwriters," Fehrman said in a statement. "And I'm excited to join at a time when technology is converging with a traditionally slow-to-change business model."
The news comes one month after Corvus opened an office in Dallas, and three months after launching an LA office. The company also has offices in New York City, in addition to its headquarters in Boston.
"We are thrilled to have someone as expert in cyber underwriting as Joel Fehrman on board," Phil Edmundson, CEO and Founder of Corvus Insurance, said in a statement. "And with the Atlanta office, Corvus will be able to meet the growing demand for our Smart Commercial Insurance policies in the Atlanta area, Florida and other key southeast markets."
Corvus Insurance, founded in 2017, is backed by Bain Capital Ventures, Hudson Structured Capital Management and .406 Ventures. In November, the company raised $10 million, bringing its total funding to $14 million.
