Tarian’s investor recognises that ’the importance of combining underwriting talent with technological investment has become increasingly apparent’
Insurance investor Beat Capital Partners (Beat) has today (4 January 2022) announced the sale of cyber insurance specialist Tarian Underwriting to artificial intelligence driven commercial insurance provider Corvus Insurance.
London-based Lloyd’s coverholder, Tarian Underwriting will be rebranded as Corvus Underwriting Limited.
As a result of this deal, Corvus believes it has become the first US cyber insurtech to acquire a London underwriting platform, creating global underwriting capabilities and a partnership with Lloyd’s cyber insurance capacity.
Geoff Pryor-White, Tarian’s chief executive, said: “We founded Tarian as a team with extensive market experience that saw an opportunity to become a leader in the cyber insurance market.
“We have had a great start with Beat and when we become part of Corvus, with access to its data driven insurance technologies, we can continue our founding mission and support our policyholders as one, dynamic team.”
Differentiated underwriting proposition
Established in 2016, cyber underwriting platform Tarian has an international footprint that covers the UK, US, Canada, Middle East and Australia.
Tarian underwrites on behalf of a consortia of Lloyd’s syndicates.
John Cavanagh, Beat Capital’s chairman, said: “We are pleased to have successfully concluded the sale of Tarian, which has grown into a significant cyber insurer under our ownership.
”Beat businesses are formed around leading underwriting talent and Tarian was one of our very first investments.
“We recognise that in the dynamic world of cyber insurance, the importance of combining underwriting talent with technological investment has become increasingly apparent.
“The data driven, cyber technologies of the Corvus Risk Aggregation Platform will provide the Tarian team with best-in-class technology to support its differentiated underwriting proposition.”