Corvus joins Finlex’ Cyber Fast Lane

Finlex GmbH, the leading online platform in the field of cyber insurance, has added Corvus as another  insurer to the Cyber Fast Lane. This is an innovative and straightforward process that enables small to medium-sized companies (SMEs) to hedge cyber risks quickly and efficiently.

A fast and straightforward process for SMEs

With the addition of Corvus as a fifth insurer, Finlex is expanding its product offering for its Cyber Fast Lane. Brokers now have even more options when seeking the right insurance cover for the individual needs of their SME customers. The signature feature of Cyber Fast Lane is a lean, fast and digital process. This means that brokers can select the right Cyber insurance from a variety of results for companies with annual sales of up to EUR 50 million, using just three data points. Only a few minimum IT security requirements have to be met to take out the policy online right away.

“We are pleased to welcome a new provider in the European market that meets changing customer needs with an innovative offering,” says Sebastian Klapper, founder and CEO of Finlex. “With a risk class as dynamic as Cyber, we need innovative approaches and new capabilities that enable customers to understand their risk level accurately and ensure they have the right protection on an ongoing basis. This is precisely where Corvus comes in, with its data-driven underwriting that is directly connected to our platform.”

Corvus Scan Report highlights individual weaknesses

Corvus offers small and medium-sized enterprises comprehensive Cyber insurance, with various cover options, such as Cyber crime, social engineering and phishing losses. In addition, Corvus waives technical obligations in its General Terms and Conditions and provides each policyholder with a copy of an individual scan report upon request. This Corvus Scan Report shows the critical security gaps that can be identified externally and how the company can close these.

“For us, this collaboration is an important milestone and the start of a new era for Cyber insurance in the German-speaking market,” says Oliver Delvos, Head of International Corvus. “In recent weeks, engineers on both sides of the Atlantic have implemented a new, fully automated form of digital collaboration. Truly pioneering work!”

Direct interface allows dynamic pricing

The two companies have established a direct interface to their innovative platforms such that precision dynamic pricing is applied to each customer situation, enabling competitive quotes at the click of a button.

Transparency and tailor-made insurance cover

The Finlex platform’s Cyber Fast Lane helps brokers to fulfil their consulting mandate even better, while offering their customers tailor-made solutions. Its advantage lies in the transparency of premium calculation and rate comparisons. In addition to a quote that can be accepted digitally, the broker also receives an overview of which insurance companies expect what IT requirements and what terms and conditions they offer. This makes it possible to target improvements in IT security with the aim of obtaining a more favourable premium.

The following images are authorized for reprinting subject to editorial and non-commercial use:

Sebastian Klapper | (Press photo)

Photo credits: Finlex GmbH

Oliver Delvos | (Press photo)

Photo credits: Corvus Insurance

Download our Press release.

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.

About Finlex GmbH

Finlex – the online insurance platform for commercial and industrial customers with a focus on financial lines such as D&O, Cyber, criminal and PI insurance.

In the Insurance industry Finlex is considered one of the few ‘scale-ups’ with enormous potential. Scale-ups are start-ups that have left the initial phase and are showing rapid growth. Finlex combines expert knowledge from the commercial and industrial insurance sector with the most advanced technology. The needs of the customer always come first. The platform offers insurance brokers with a focus on corporate clients a white label solution with market leading specialty products and all relevant insurers in one place. From tendering to contract, renewal and portfolio functions to an extensive knowledge base, the platform provides brokers with their own digital infrastructure. For insurers, it enables automated underwriting (robo-underwriting) for financial lines products and access to the leading industry brokers in Germany, Austria and now in France.

Finlex is headquartered in Frankfurt am Main with offices in Barcelona, Berlin, Düsseldorf, Essen, Paris, and Vienna.