Boston-based smart commercial insurance provider Corvus Insurance has made its first agency acquisition. The company announced that it has acquired Wingman Insurance, a tech platform for admitted Cyber and Tech E&O coverage available in all 50 states and D.C.
“The addition of Wingman into the Corvus fold represents a key milestone in the growth of our company,” said Phil Edmundson, founder and CEO of Corvus Insurance. “By expanding our footprint in the small and midsize business market and creating the ability to white label our solutions as we further explore multiple product lines, this addition creates new opportunities for Corvus as we launch an acquisition strategy and continue organic growth.”
Based in Cambridge, Maryland, Wingman Insurance was founded by former insurance agent G. Philip Feldman, who saw there was a need for a tech platform focused on providing Cyber and Tech E&O options that were easy for agents and brokers to sell. According to the terms of the transaction, Wingman Insurance will continue to operate as a separate independent brand.
“Corvus and Wingman share a like-minded philosophy around the need to create technology and software that empower brokers with intuitive tools that reduce administrative work and provide insight to better understand and inform their clients on complex risks,” said G. Philip Feldman, founder and CEO of Wingman Insurance.
“We’re excited to join the Corvus team as we together transform an industry through technology, data science and simplicity while continuing our commitment and passion for personal service.”
The addition builds on the momentum Corvus has created during 2021, spurred in part by the $115 million Series C funding the company secured earlier this year. In addition to accelerating its growth and geographic footprint through strategic acquisitions, the company also plans to double its employee headcount over the coming year.