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Full-Time

Claims Counsel

Posted on 8/23/2024

Corvus Insurance

Corvus Insurance

201-500 employees

AI-powered commercial insurance solutions for brokers

Fintech
AI & Machine Learning
Cybersecurity

Senior, Expert

Boston, MA, USA

Transitioning to a hybrid schedule in June 2025 (3 days/week in office, 2 days/week remote).

Category
Legal
Risk & Compliance
Legal & Compliance
Required Skills
Management
Requirements
  • JD required
  • Significant experience handling complex insurance claims
  • Cyber experience preferred
  • D&O, EPL, Fiduciary, and/or E&O claims experience
  • VCA claims system experience, a plus
  • Licensed Insurance Adjuster (multiple licenses a plus and willingness to obtain additional licenses)
  • Experience drafting coverage letters with a strong grasp of coverage issues
  • Experience reviewing litigation budgets and statements of work
  • Have an excellent understanding and demonstrated ability to apply the technical aspects of claim handling
  • Seeking ambitious individuals eager to build and grow expertise with Corvus and in the cyber industry
  • Excellent writing and analytical skills
Responsibilities
  • Promptly investigate, negotiate, and manage cyber claims
  • Utilize knowledge of insurance contracts, claims investigations, and vendor management to make appropriate claim reserve recommendations
  • Analyze primary and excess coverage, make coverage determinations, and draft coverage correspondence
  • Collaborate and coordinate with the Corvus Risk + Response team to assist policyholders in pre-breach and breach response services
  • Appoint and manage defense/breach counsel and vendors
  • Establish an effective risk management structure
  • Proactively work toward economic resolution of Cyber claims
  • Control litigation and expense management
  • Effectively communicate coverage positions to Corvus policyholders
  • Maintain frequent interaction with Underwriting team to communicate claim developments and trends
  • Responsible for implementation, monitoring and reporting on results of assigned special projects
  • Drive employee engagement by exhibiting passion about the company, values, business and our customers
  • Maintain well documented claim file notes

Corvus Insurance provides commercial insurance solutions that utilize artificial intelligence to assist insurance brokers in managing complex risks. Their main product, the Corvus Score, evaluates an organization's IT security through a proprietary assessment tool called the Corvus Scan™, which identifies vulnerabilities. This information allows brokers to tailor pricing and coverage options for their clients, particularly in sectors like cybersecurity that require detailed risk management. Corvus differentiates itself by offering brokers intuitive tools that streamline administrative tasks and enhance the broker-client relationship, ensuring easy access to necessary documents and insights. The company's goal is to improve the efficiency and effectiveness of the insurance process while adapting its offerings based on broker feedback and market changes.

Company Stage

M&A

Total Funding

$246M

Headquarters

Boston, Massachusetts

Founded

2017

Growth & Insights
Headcount

6 month growth

-7%

1 year growth

0%

2 year growth

-7%
Simplify Jobs

Simplify's Take

What believers are saying

  • Corvus's innovative AI-driven approach can lead to reduced claims costs and lower insurance premiums, making their policies more attractive to businesses.
  • The company's continuous product enhancements, such as the expanded Tech E+O offering, demonstrate a commitment to staying ahead in the market.
  • Strategic backing from Travelers provides financial stability and resources for further growth and innovation.

What critics are saying

  • The rapidly evolving cybersecurity landscape requires constant updates and improvements, posing a challenge to maintain cutting-edge solutions.
  • Dependence on AI and data-driven tools means any technological failures or inaccuracies could significantly impact their service quality and reputation.

What makes Corvus Insurance unique

  • Corvus Insurance leverages AI-driven tools like the Corvus Score and Corvus Scan™ to offer predictive and preventive risk management, setting it apart from traditional insurers.
  • Their focus on cybersecurity and data-driven insights allows brokers to provide customized pricing and coverage, enhancing the broker-client relationship.
  • The application-free, click-and-bind renewal process for cyber insurance policies streamlines operations, making Corvus a more efficient choice for brokers.

Benefits

Unlimited PTO

Hybrid Work Environment

Professional Development

Paid Parental Leave

401(k) Company Match

Health, Dental & Vision Insurance

INACTIVE