Corvus & eProvenance Team Up on Pioneering Coverage for Wine & Sensitive Cargo
Boston, Mass.—Corvus Insurance, an AI-driven InsurTech company offering Smart Commercial Insurance policies, and eProvenance, a leader bring a new level of monitoring and insurance coverage to wineries, breweries and beverage , today announced they have teamed up to distributors shipping sensitive cargo.
shipment conditions of sensitive and perishable cargo in solutions to monitor and analyze Corvus offers winery and beverage clients Smart Cargo + CyberTM policies, featuring the broadest coverage available for Ocean Cargo with an industry-first affirmative cyber endorsement. eProvenance solutions use innovative, patented technology, including proprietary sensors and analytics tools, to deliver insights on transport and storage practices to help clients make better business decisions and assure the quality of their goods.
In eProvenance, Corvus policyholders get an integrated partner for monitoring services, including the use of proprietary sensors for tracking the temperature of shipments, a Customer Care Team to handle sensor shipment and collection, and an online dashboard for viewing reports and analysis. Central to the solution is the eProvenance Score, which clearly validates if you are taking great care of your wine shipments and your channel is delivering on your quality promise, or indicates the extent of shipment damage (if any). The eProvenance Score is a deeply researched parametric yielding clear actionable insights. These insights, along with industry benchmarks, are accessible through a secure private dashboard and can be used to assess the performance of global distribution channels, assure quality and asset value, verify provenance, and make informed decisions around shipments.
Corvus offers policyholders enhanced coverage based on their eProvenance Score. With each policy, Corvus also supplies its proprietary Dynamic Loss Prevention® (DLP) reports, which inform policyholders of critical risk areas and provides prioritized, actionable recommendations for steps to mitigate their exposure. By consistently monitoring shipments over time through eProvenance services and receiving regular DLP reports, policyholders will have information to reinforce and promote excellent handling, as well as to improve conditions and shipment quality where needed.
“We are impressed with the expertise and accomplishments at eProvenance and are excited to work with them to deliver the most comprehensive cargo and cyber insurance coverage available for the wine and beverage industry,” said Phil Edmundson, CEO and Founder of Corvus Insurance. “Both Corvus and eProvenance are dedicated to delivering value by making new sources of data actionable for customers. This clear alignment of goals gives us confidence we will be able to provide a differentiated service that fills a serious gap in the beverage industry,” commented Edmundson.
“Combining our monitoring and analytics with the broadest insurance coverage available for the wine industry completes the quality assurance promise,” said Robin Grumman-Vogt, CEO of eProvenance. “Long committed to protecting wine quality with our technology and services, our data show monitoring improves handling throughout the chain. Monitoring reveals and clarifies conditions so that good practices can be reinforced, problems corrected and resulting benefits promoted. All of this leads to fewer disappointments when bottles are opened by the consumer,” said Grumman-Vogt.
With Corvus’s Smart Cargo + CyberTM policies, rich sets of data are gathered and analyzed with the help of AI to instantly and accurately assess risk, informing underwriting. The company’s CrowBar® platform provides on-demand access to policy information, claims reporting, and business intelligence. Smart Cargo + CyberTM policies are distributed by Corvus on a Managing General Agency basis with its partner, Argo Group. Policies are distributed through major insurance brokerage firms across the United States.
About Corvus Insurance Holdings, Inc.
Corvus Insurance is an InsurTech MGA offering Smart Commercial Insurance policies powered by AI- driven cyber risk data. Corvus empowers commercial insurance brokers and policyholders to better predict and prevent complex risks with data-driven tools. With each policy, Corvus supplies its proprietary Dynamic Loss Prevention® reports, which inform policyholders of critical risk areas and provide actionable recommendations. Founded in 2017 by a team of veteran entrepreneurs from the insurance and technology industries, Corvus is backed by Bain Capital Ventures, Hudson Structured Capital Management, and .406 Ventures. The company is headquartered in Boston, Massachusetts, and has offices across the U.S.
A leader in monitoring wine shipments, eProvenance offers innovative technology solutions to protect the quality of fine wines, fine art and other fine goods at the container, pallet and case level. The company offers solutions for monitoring shipment temperature, humidity and geolocation to fit a wide range of needs and budgets. eProvenance has monitored shipments and collected millions of data points for nearly 400 producers, 300 importers and 200 transporters in 65 countries. The company has offices in the USA and France, and works with Bordeaux cha?teaux, estates in Burgundy, wineries in California, as well as importers and top wine merchants globally. eProvenance holds trademarks and patents for its technology around the world.