Even though well over $12 billion in venture funding is being poured into cyber security companies annually – a number that’s still rising – it remains crucial that insurance underwriters are on hand should breaches occur, especially in light of the ever more sophisticated nature of attacks.
Envelop specialises in just that. The company offers insurance and reinsurance solutions by combining AI and cyber security analytics, which it combines with first hand industry intelligence. CEO Jonathan Spry is a former NatWest and Guy Carpenter executive, while COO Paul Guthrie was previously CSO at quantum computing and AI company QxBranch.
It’s safe to say that Envelop has grown promisingly, having underwritten well over $250 million of business since 2018. Now with major investment from SoftBank, the company is eyeing up a global expansion, as well as a move into adjacent areas of corporate risk.
Steph
Company Specialist at Welcome to the Jungle