Coalition, Inc.
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Coalition, Inc.
Additional Info
| Website | https://www.coalitioninc.com/ |
| Company size (employees) | 100 to 499 |
| Headquarters Region | North America |
Overview
Founded in 2017, Coalition is on a mission to solve cyber risk and create a safer digital economy where everyone can thrive. As the world’s largest commercial insurtech, Coalition combines comprehensive insurance and active cybersecurity tools to help over 130,000 customers manage and mitigate their digital risk.
Coalition’s platform provides cyber, D&O, and executive risk insurance alongside automated security alerts, threat intelligence, expert guidance, and cybersecurity scanning technology to help businesses actively protect themselves in a digital world. Thanks to Coalition’s preventive approach to insurance, its customers file 70% fewer claims than the industry average and are more prepared to face potential threats. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance and Zurich North America, Coalition provides customers in the U.S. and Canada with comprehensive cyber, technology and executive risk coverage.
As of September 2021, Coalition has raised $520 million from Index Ventures, Ribbit Capital, Valor Ventures, Durable Capital, T. Rowe Price and Whale Rock Capital. In October 2021, Coalition acquired Attune, a managing general agent (MGA) and technology-powered broker platform for commercial insurance, expanding the reach of its mission to provide cybersecurity insurance for all.
Coalition is headquartered in San Francisco with a distributed workforce across North America and Europe.
How we are different
- Coalition has filled a significant gap in the cyber insurance market, meeting the business needs of its policyholders with a technology-focused approach to claims processing. The comprehensive insurance coverage Coalition offers not only help clients to recover from malicious attacks, but also proactively prevents cyberattacks with continuous threat monitoring and tailored cybersecurity recommendations. Unlike traditional cyber insurance designed only to respond after a crisis occurs, Coalition actively scans and monitors policyholders, providing them with the analysis and tactics they need to prevent a claim. To help businesses of any size reduce their cyber risk and improve their cyber posture, Coalition analyzes their security architecture and provides cyber best practices for free with risk assessment tools and personalized counsel. By investing in technology, Coalition has made itself an essential partner in businesses’ efforts to control their cyber risk, especially small- to mid-sized businesses.
- Coalition’s technology platform and security teams scan policyholders 65,000 times a week. It aggregates and analyzes data from every internet-addressable device inside a company, scanning a policyholder’s assets to identify potential vulnerabilities so it can help policyholders reduce their cyber risk. By committing to a technology-focused policy process, Coalition is setting a new standard for the cyber insurance industry that better protects businesses and results in fewer claims.
- Coalition prioritizes customer service and efficient incident response, supporting policyholders before, during, and after an incident occurs. Because cyber incidents come in various forms and can happen at any time, Coalition’s Security Incident Response Team (SIRT) is available 24/7/365. Coalition has helped multiple organizations to overcome ransomware and recover from financial harm, including preventing interruption of computer systems and permanent loss of data.
