He joins Corvus from SiriusPoint, the place he was chief working officer and president of its insurance coverage & providers division. Prior to this, he was associate and head of Americas P&C insurance coverage at Oliver Wyman, a Marsh McLennan firm.
As president of Corvus, Gangu will oversee gross sales, underwriting, actuarial, information science, claims, and threat capital features, constructing on the corporate’s sturdy underwriting basis to drive worthwhile progress.
Corvus as we speak welcomed former SiriusPoint and Marsh & McLennan govt @pgangu as President! Learn extra: https://t.co/ZELz2z1oGC | #CyberInsurance #CommercialInsurance #CorvusInsurance
— Corvus Insurance (@CorvusInsurance) March 30, 2023
“Corvus has demonstrated that you can achieve exceptional underwriting results by excelling in both parts of insurtech — traditional insurance expertise combined with cutting edge data and analytics — while protecting policyholders in an evolving risk landscape,” Gangu stated. “I’m excited to be on board to build on the existing Corvus platform while helping policyholders, brokers, and (re)insurers face and mitigate the rapidly evolving threats and cyber risks to the core digital assets and online operations of today’s businesses.”
Gangu’s appointment will see him be part of the corporate’s govt management workforce, reporting to CEO Madhu Tadikonda.
“After studying the market extensively, Prashanth chose to join Corvus because he was drawn to our industry-leading profitability and loss ratio,” Tadikonda stated. “This is the time when the strong, durable, resilient tech-driven insurance underwriters will emerge, and we are thrilled to have Prashanth join the team to drive the next stage of our ambitious journey.”
Corvus, which is headquartered within the US and has workplaces within the UK and Germany, had a robust 12 months in 2022, rising cyber premiums by 80% whereas attaining an industry-leading loss ratio within the mid-30s.
Earlier this month, the corporate additionally expanded its Frankfurt-based workforce, hiring underwriters with localized cyber answer expertise within the European Union, together with an area head of cybersecurity providers.
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