Coalition

Coalition provides companies with cyber and technology insurance coverage. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, guidance, and cybersecurity tools to help businesses remain proactive in the face of cyberattacks.

Coalition's cyber insurance product covering a broad range of risks, as well as first and third party liabilities for SME clients. Cover for Business Interruption loss and computer replacement are included in addition to the more common losses and liabilities. As well as post-loss cover, Coalition customers have access to a security platform featuring tools to protect against password fraud and ransomware, and monitor threats.

Coalition is partnered with Argo and Swiss Re for the insurance elements of their products.

In November 2019 Coalition partnered with Coronet to offer cybersecurity and cyber insurance products for SMEs.

In January 2020 Coalition acquired cybersecurity company BinaryEdge. BinaryEdge's technology will be integrated, enabling Coalition to offer small and mid-size businesses 24/7 security monitoring as well as insurance coverage for cyber-attacks and technology failures.

Coalition raised a $90m Series C in May 2020, bringing its company valuation up to $890m. The company also stated it had grown its customer base to 25,000, up 600% from the previous year. Coalition stated it planned to use the money to grow its team by 100, and to enter Canada, the UK, Europe and Australia.

In November 2020, the company revealed it had now reached an annualised premium revenue of $100m, and was serving 27,000 customers.

In March 2021, Coalition announced it had raised a $175m Series D round. They also revealed that they currently work with more than 42,000 companies and plan to use the funding to branch into other lines of commercial insurance.

In September 2021 Coalition secured a $205 million Series E round, and is now valued at $3.5 billion. The California firm offers businesses cybersecurity tools and insurance to help manage and mitigate cyber risk to more than 50,000 customers, having doubled its customer base during the past year. Coalition has also reported GWP of more than £325 million, an 800% increase YoY. The firm will use the money from the new funding round to expand into new insurance lines.

In October 2021 Coalition acquired Attune, a tech-powered broker platform for commercial insurance. The combined company now serves over 130K customers, and is already delivering over $500 million in run rate GWP. Coalition will expand the reach of its cyber insurance to more policyholders through the Attune marketplace, and will also apply their analytics and machine learning insights to an expanded set of Attune’s insurance offerings over time.

In February 2022 Coalition partnered with Armorblox to help protect businesses from targeted email attacks and phishing attacks.

In April 2022 Coalition has gained additional (yet undisclosed) capacity from Vantage Group Holdings. The update follows news from the previous month, where Coalition revealed Ascot Specialty Insurance Co would back its US primary surplus lines cyber program. Also in April, the company announced it is partnering with broker Acrisure, providing its cyber and digital risk exposure Risk Assessment for SMEs to Acrisure and its global partner network. The pair hope to create a safer digital economy for SMEs during a time where financial loss and cybersecurity claims are at an all-time high.

In July 2022 Coalition and Allianz struck a multi-year partnership. Allianz will be providing capacity for Coalition's cyber programs in the UK and in the US. Coalition recently revealed it had a run rate GWP nearing $740M as well as 160K customers.

During October 2022 the company partnered with SME financial services provider Bluevine to offer its clients cyber insurance. The company also announced the formation of Ferian Re, a Bermuda-based Class 3B reinsurer which will be providing capacity all across Coalition's cyber programs. The new entity was capitalised with roughly $300M. Later in November Coalition announced the launch of new APIs for management liability through Executive Risks Insurance. The APIs will enable more agencies to embed Coalition into their platform of choice in order to enable more efficient quoting.

In January 2023 Coalition began to file new cyber insurance programs for SMBs in 14 states, following the acquisition of P&C insurer Digital Affect Insurance in 2022. Digital Affect, which was previously owned by Munich Re Digital Partners, has a license in all 50 states. 

Later in January 2023 the company partnered with Proactive insurance to launch Crime and Fiduciary Liability Insurance coverage for small businesses, in collaboration with Zurich. The new product aims to protect small businesses from criminal activity from both third parties and their own employees, as well as against negligence and mismanagement of benefits plans. The new product enables brokers to take proactive steps to help small businesses identify and mitigate risks related to these losses.

Coalition announced in February 2023 it has expanded its cybersecurity insurance offering to enterprise businesses with revenues up to $5bn. The company’s increased capacity above its existing limit of $1bn comes from a syndicated placement across many of its existing partners. 

In March 2023 the company entered the excess cyber market in the UK. It will now offer full-follow form coverage and protection of up to £10m above a primary layer of insurance from another insurer for cyber and technology professional indemnity (PI) lines. It will provide clients with access to Coalition Control, the insurer’s proprietary attack surface monitoring technology.  

During April 2023 the company launched a new solution to better counter cyber attacks on brokers. The new solution, CoalitionAI Broker Copilot, is a generative AI chatbot embedded into the Coalition broker dashboard. Initially it was only available to several leading US brokers and businesses. The chatbot can answer questions about cybersecurity best practices, cyber policy coverage options, and more.

Later in June it launched the Exploit Scoring System (Coalition ESS), a vulnerability scoring system for helping risk managers better understand potential cyber threats and prioritise them. ESS uses AI and large language modelling (LLM) to check new Common Vulnerabilities and Exposure reports, compares them to historic reports, and predicts the possibility of exploitation.

In July Coalition acquired privacy control mobile app Jumbo to enhance their team's privacy and security capabilities. The acquisition amount remains undisclosed.

Headquartered in San Francisco, Coalition was founded in 2017.