Arch Insurance and Coalition to partner on cyber programs using advanced analytics capabilities
San Francisco, CA (Feb. 16, 2021) – Arch Insurance North America, part of Arch Capital Group Ltd., and Coalition, the leading provider of cyber insurance and security, have announced a multi-year partnership that provides Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Error & Omissions insurance programs with Arch Insurance North America’s A.M. Best A+ rated carriers.
“Arch is committed to leveraging advanced analytics to change the way we understand risk and protect businesses. We’re excited to work with Coalition, which is using its data-driven approach to insure cyber risk,” said Jay Rajendra, Arch’s Chief Strategy and Innovation Officer. “Their analytics-based approach and superior in-house cyber security services are compelling reasons for us to support their ongoing mission to solve cyber risk. Our partnership with Coalition is an excellent complement to Arch’s existing cyber insurance product offerings.”
The partnership with Arch will support Coalition’s rapid growth. Over the past year, Coalition has grown to over $150 million of run-rate gross written premium (GWP) and serves more than 41,000 organizations. Coalition has experienced consistently profitable growth as a result of its unique approach to underwriting, continuous monitoring of insureds’ risks, and efficient claims management through its in-house incident response team.
“Our partnership with Arch reinforces our commitment to providing businesses with the most comprehensive insurance available, now backed by the financial strength of multiple A.M. Best A+ rated insurers,” said Joshua Motta, co-founder and CEO of Coalition. “Equally important, we are pleased to welcome a partner that shares our desire to use data and technology to better protect businesses. We look forward to collaborating with Arch to develop new and advanced predictive analytics capabilities that improve our products and that better address the greatest risks companies face today.”
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 9 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, Vancouver, and Toronto. For more information, visit www.coalitioninc.com.
About Arch Insurance North America
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada. For more information about Arch Insurance, visit www.archinsurance.com.
About Arch Capital Group Ltd.
Arch Capital Group Ltd., a Bermuda-based company with approximately $15.8 billion in capital at Dec. 31, 2020, provides insurance, reinsurance, and mortgage insurance on a worldwide basis through its wholly owned subsidiaries. For more information about Arch Capital Group, visit www.archcapgroup.com.
SOURCE: Coalition Inc.Tags: Arch Insurance, Coalition Inc., Cyber Insurance, errors & omissions, partnership