Coalition Cyber Insurance

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Additional Info

Company (that provides the nominated product / solution / service)Coalition, Inc.
Websitehttp://www.coalitioninc.com
Company size (employees)100 to 499
Type of solutionService

In 3 bullets, summarize why this product or service is different from the competition and deserves recognition:

- According to Coalition, the cybersecurity model is broken; organizations continue to address cyber risk solely as a technology problem – but it’s also a risk management problem. CEO Joshua Motta founded Coalition to solve cyber risk by offering modern organizations a comprehensive product that combines technology and insurance to protect businesses from rapidly emerging cyber and technological risks, such as ransomware, data breaches and DDoS attacks. By combining a traditional insurance policy with dynamic data discovery, security scanning, and active monitoring, Coalition ensures clients can reduce their risk and stay resilient in the event of a cyber incident.
- Coalition Cyber Insurance offers 360-degree coverage for financial, physical and technological damages resulting from cybersecurity incidents. Coalition’s 130,000 customers benefit from an active policy supported by technology designed to detect, manage and mitigate threats. Whereas traditional insurance offers only financial protection after an incident takes place, Coalition Cyber Insurance uses public web scanning, threat intelligence, proprietary customer claims data and applied machine learning to accurately assess, prevent, cover emerging risks. The results speak for themselves: in 2021, Coalition customers filed 70% fewer claims than the industry average.

- Coalition’s active risk platform runs comprehensive scans across all common ports exposed to the public internet. This comprehensive scanning technology, based on Coalition’s acquisition of Binary Edge, scans policyholders key technical assets up to 56,000 times a week and scans attacker domains to identify potential vulnerabilities, malware and ongoing attacks within policyholders’ networks.
- Coalition’s security and incident response team notify customers of new security vulnerabilities as they are discovered and are available 24/7 to help policyholders respond to potential incidents to get businesses back up and running quickly. This is why Coalition, together with the broader cyber insurance industry, is best positioned to fight cybercrime and help organizations address critical cyber risks.

Brief Overview

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.