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
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across all 10 provinces in Canada. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, and now Vancouver and Toronto.
How we are different
- Coalition has revolutionized the industry by providing value to customers before, during, and after an incident. Coalition’s proprietary and no-cost cybersecurity tools and services help prevent attacks from occurring in the first place, and its in-house Security and Incident Response and Claims teams help contain and mitigate the damage during an incident. In 2020, 45% of incidents reported to Coalition were handled by its dedicated in-house Claims and Incident Response teams with no cost to the policyholder. With Coalition’s cyber insurance and proactive cybersecurity tools, organizations that use technology are more resilient to cyber threats.
- The cybersecurity industry is massive (over $100 billion in 2019) and growing, and yet businesses are still getting hacked at an increasing rate. Coalition has a unique view into the practical security measures that actually work to prevent cyber incidents and claims for small and midsize businesses because the company handles claims and cyber incidents for its nearly 30,000 customers. The company uses this insight to dynamically price risk and offer its customers better coverage and lower insurance premiums if they put effective security measures in place.
- Coalition secured $90M in Series C funding in May of 2020 to continue to make state-of-the-art cybersecurity capabilities available to small and midsize businesses at no cost, expand internationally, and develop new products. With a customer base of over 30,000 (~600% increase from last year), Coalition is one of the largest providers of cyber insurance and security in the United States.
