Madhu Tadikonda To Lead Corvus Insurance's Growth And Global Expansion
Madhu Tadikonda is the new CEO of Corvus Insurance to drive accelerated insurtech growth and global expansion.
FREMONT, CA: “We are entering a new era of InsurTech 2.0, where success is derived from smart risk-taking, combining insurance expertise with advanced data and technology. Corvus, which has scaled rapidly since its founding, is perfectly positioned to accelerate its growth moving forward,” says Tadikonda. Corvus Insurance, the market-leading specialty insurance MGA that offers Smart Cyber Insurance solutions backed by AI-driven risk data, has hired Madhu Tadikonda as its new CEO, effective immediately. Tadikonda will join the Corvus Board of Directors and report to the Board directly.
“We remain hyper-focused on our most important goal: tackling cyber risk. Our advanced data-driven underwriting and policyholder engagement have generated industry-leading results for our risk capital partners and other stakeholders,” adds Tadikonda.
Phil Edmundson, InsurTech's founding CEO, will assume the new positions of Executive Chair and Chair of the Board of Corvus. In this full-time position, Edmundson will support the company's growth as it grows its international footprint and increases its distinctive technology and risk capital capabilities. Since its inception in 2017, Corvus has quadrupled its premium and revenue annually, increased its personnel to 300, and expanded internationally into the United Kingdom and Germany, with plans for additional worldwide expansion in 2023.
"I have known Phil and Madhu separately for many years now,” states Matt Harris, Managing Partner of Bain Capital Ventures and the first investor in Corvus. Having introduced them five years ago, I could not be more excited at this high-level pairing of complementary talents in this incredible market opportunity."
Tadikonda, who became President of Corvus a year ago, has spent the past year partnering with reinsurers, brokers, and policyholders to address and manage the fast-increasing threats and cyber risks to the key digital assets and online operations of today's firms. Before joining Corvus, he served as AIG's global chief underwriting officer and managed AIG's commercial insurance data science initiatives. In addition, he co-founded Archipelago, a risk data platform that leverages artificial intelligence to digitize risk for major commercial property owners.
“I’m extremely thrilled with Corvus's achievements, and I am excited to continue that growth trajectory. Madhus background, with deep experience in both insurance and cutting-edge data science, is a perfect fit for the next phase of Corvus scaling. Since Madhu joined Corvus, he has brought an acute eye and passion for demonstrating value for our risk capital partners, brokers and policyholders alike,” says Edmundson. “I’m excited for what's ahead, and I look forward to continuing to support our company’s next phase and working to bring our Safer World mission to more brokers and policyholders.”