Company: Coalition Inc.
Business Category: An insurance practitioner (insurer, MGA, broker, agent)
Maturity Status: Startup (less than 3 years since product went into production)
Product or Service: Technology enabled holistic cyber insurance solution
Area: Property & Casualty Insurance
Coalition’s comprehensive insurance coverage uses a technology focused approach to mitigate, measure and respond to cyber risk. Our integrated data driven outlook on the cyber risk landscape takes an adversary perspective to help insureds better prepare for and remediate from cyber incidents.
What makes us an InsurTech:
At Coalition, we integrate the lessons learned from the claims process into our underwriting model, to better predict and ideally prevent cyber losses from occurring. We provide policyholders and brokers with a seamless experience with procuring cyber insurance as well as resources throughout the policy term to strengthen their risk profile and understanding of cyber risk. Should a cyber incident incur, our aim is to efficiently respond and remediate from a cyber loss with minimal financial or reputational damage. Our goal with our holistic offering is to utilize technology to solve cyber risk.
Major features & technology used:
Coalition has built a proprietary active risk platform that allows us to scan the global internet, map the internet attack surface of any organization, and provide real-time threat intelligence to help reduce cyber risk. This active risk platform powers all aspects of our business, from continuous underwriting and risk assessment, active risk monitoring and alerting of our policyholders, and integrated claims and incident response. Policyholders receive personalized, proactive alerting of new vulnerabilities and security issues as they arise. Our proprietary cybersecurity tools help prevent attacks from occurring in the first place and our policyholders experience 70% fewer claims than the overall market. Coalition pairs these tools with a comprehensive insurance offering to protect businesses when incidents do occur.
News & Updates
See the latest Coalition news.
Coalition started by building the broadest insurance coverage available to address all forms of cyber risk and delivering it in the easiest way possible. This initially allowed us to help our customers recover from losses and costs incurred following a cyber incident. However, it didn’t do anything to prevent the loss in the first place. Today, we’re building a full-on cyber risk management platform encompassing not just insurance, but threat intelligence and other cyber security tools to help our customers prevent loss entirely. We’re also assembling a team of expert incident responders, threat and malware researchers, and security analysts to protect our customers before, during, and after a cyber incident. For more information, visit www.coalitioninc.ca.
Source: Coalition Inc.
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