A new kind of insurance company
Coalition is the best way for a company to manage cyber and technological risk. Coalition aims to help businesses and individuals manage, mitigate, and remain resilient in the face of dynamic and pervasive threats.
State of the world
Cybersecurity is broken. Nothing is secure, no one is able to defend themselves, and businesses and individuals are left to pick up the pieces when their security fails.
Despite record levels of security spending ($80bn in 2015), the problem is only growing. Companies spent nearly $490bn in the same year to clean-up successful cyber attacks–the echo chamber is real.
We now live in an age where a cyber attack, technology failure, or human error can cause everything from data theft to nuclear centrifuge explosion, hospital shutdowns, hotel room lockouts, supply chain disruptions, and even blackouts. In other words: the entire spectrum of known risk. What's worse is that the asymmetrical nature of defense makes it next to impossible to completely secure a business from cyber perils.
We are here to solve this.
Coalition was founded to address what is now the single most prevalent risk to businesses–cyber risk. Our mission is to solve cyber risk through protecting the value of our customers’ businesses and helping them recover from increasingly dynamic and pervasive cyber threats. Solving cyber risk, in our vernacular, does not mean solving cybersecurity failures (those will happen) but, rather, providing business owners and managers with an accurate picture of their exposure, the ability to manage the risk, and, most importantly, resiliency when a loss event happens.
This approach allows Coalition to correlate controls and protective actions (insight gained during our underwriting process) with losses resulting from the failure of such controls and protective actions (insight gained by paying claims). This means we are able to quickly learn what is working and what is not.
With this insight we have an enormous opportunity to protect our customers as a true partner in risk management, re-shape the security industry, and support the continued growth and innovation of the technology sector on a global basis. Oh, and hopefully we'll re-shape the insurance industry along the way.
Coalition is the first insurance-enabled technology firm built to help businesses before, during, and after a cyber incident. We are headquartered in San Francisco, CA. Coalition's insurance products are backed by Swiss Re, one of the world's largest reinsurers, and Argo Insurance.