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Corvus Insurance Acquires Wingman Insurance, Launches Acquisition Strategy To Further Accelerate Growth

Aug 05, 2021•over 4 years ago

Acquiring Company

Corvus Underwriting GmbH

Acquired Company

Wingman Insurance

BostonInformation TechnologySoftware

Description

Corvus Insurance, the leading provider of smart commercial insurance products powered by AI-driven risk data, today announced that it has acquired Wingman Insurance. Wingman provides a tech platform for admitted Cyber and Tech E&O coverage in all 50 states and D.C., and will continue operation as an independent brand and offering.

Company Information

Company

Corvus Underwriting GmbH

Location

Boston, Massachusetts, United States

About

Corvus Underwriting GmbH is a company that provides technology-driven insurance products. It focuses on delivering innovative solutions to meet the needs of modern businesses. The firm specializes in cyber insurance and risk management services. Corvus aims to leverage technology to enhance underwriting and claims processes.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed