Silicon Valley Cybersecurity Insurance Startup Coalition Profile
Many industry people believe cybersecurity insurance is not worth it, as the voting and debate in our Cybersecurity Insurance For Security Integrators Guide show.
Now, a Silicon Valley startup named Coalition is offering a different approach, combining insurance with cybersecurity software.
The company claims this positions them to provide better, more targeted coverage at a lower premium since their different facets—assessing risk, insuring against risk, and protecting against risk—create a "feedback loop" of examining, insuring, and protecting that makes all phases of the process more informed and cost-effective.
In this note, based on our talks with Coalition and their cyber insurance wholesale broker, INSUREtrust, we examine:
- This combination of insurance and software
- The company's background
- Competitors
- Funding
- Revenue
- Pricing
- Go-to-market strategy
- Types of coverage
- Software platform
- Competitive advantage
- Input from wholesale broker partner
- Outlook
Two ***** ** **********
********* **** **** ******* *** ******** one **** ** *** ******** ****** branching **** *** *****:
** ******* ** ********* *** **** started ******** *****.
********* **** ********* *** ******** ********* their ******* *** *************** ***** *** company's ************* ******** ***** ***** ** lower-risk ********:
**** **’** ****** ** ** ** not **** ** ** ********* *******, but **** ******** *** ********** *** our *****. ** ******* *** ******** the ***** ** ** ****** ****** risk **** ****.
********* **** **** ***** ***** ********:
** *** ** **** ****** ****** premiums ** ****’** ****** *****.
Company **********
*** *********-***** ********* *** **-******* ** 2017 [**** ** ****** *********] ** CEO ****** ***** [**** ** ****** available] *** *** ** *********:
******** */* ** *** ** *** engineering *** **** ******* *** *** remaining */* ** **** ***** *** half ********** *** **********.
** *** ***** ** * ****, the ****** ** **** ** ** Coalition's ********* *******,***** **,******* ***.
**********
*** ******** ** ****************** ***** **** * *********** ** the ***** "*********" *** "**********," *** comes **** *** **** ** ***** technology ** *********, ** **** ** the ********** **** ************ *****:
Others ** *** *****
***** ********* ******** **** ********* *** technological ***** ******************-***.
*******, ********* *************, * ********* ****** ************ ** cyber ********* *** ************ **** ***** insurers ** *** ******, ********* *** one ** *** ***** ** ***** cyber ********* *** ******-***** ************* ***** together ** *** *** **** **:
*****’** * *** ** ******* *** there ****** ** **** ****** ***** right ***. ********* *** *** ** the ***** ** ******* ***** *** threat ********** ********** **-***** *** ****** an *******, ******.
*********** **** ** ** *********'* ****, cyber-specialty ********* ****** *** ********* ********** their *******.
10,000 ******** *******
*** ******* ****** ** **** "** the ***** ** **,***" ****** ******** that ****'** ****.
*******, **** *** **** **** "************ millions ** *********" ** ***** ** more ********** ******* **** *** ***** more ********* ****** ********:
** ******* *********** ** *** ****** Internet ** ** ******* ***** *** use **** *********** ** *** *** underwrite *** **** ** ******** ** companies. **** ** *********** **** ** use **** *** ** * ******* requests * ***** **** **.
********* ** ***********, *******, **** *** carriers ** *** ****** **** ***** own ********** *** ****** ** ** building **** *** *** ********** **** of *** ********, ***** *** ********. They ******* **** ** *** *** might *** ***** ******* ** ***** of ******** ******** ** “************,” *** a ********* ****** ** ******** ******** placed:
*** *** ********* ** ***** *********, their ********** *** ********** ** ********* the ******** ** ***** *** ** are **** ********* **** **** **** will **** **** **** **** ***** to *** ****** ** ***** ***** books ** ********.
*******
** ******** ****, *** **************** $** ******* ****** ** ****** A *******, **** ************ ********* **** ****** [link ** ****** *********] (** ******** Director ********** ****** ****),****** *******, *** ****** [**** ** ****** available] (********* *** **********), ***** ****** ******** [**** ** longer *********], ***** *******.
*******
*** ******* ***** *** ***** **'* 2018 *******, *** **** **** ** gained ******* **** * **** ******* of ******** **** ****** ********* ***** points:
***** ** ****’* **** ** ******* a ******* ** ******* ** *** moment, ** *** ***** **** ** write ********* ** *** *****, **** individual ********** ********** **** * $**,*** limit *** ******** ** *** ** $50, ** ***** *********** **** ** to * $** ******* ***** *** policies **** ***** ** $***,***.”
*******
** **** ********* ** *******, ********* did *** ***** ********* ** *******, but *** **** **** ***** ******** scaled ** ***** ******, ******* **********:
* *** ** ******* ******* ** the **** ** *** *******, **** their ******** ** *** ***** ****'** located. **’* **** **** ********* ** it’s * **** ******* **** ** is *** * ***** ******’* ******.
*** ******* ************ ****, ** ***** on ***** ******** **** *****, * company *** ** ** ***** ** higher **** **** **** ***** ****** higher *****:
*** ********* ******* ** ***** ******* than *** ****** ******* ** ******* we *** ****** ****** (*** ********* price *** ****) **** ******, ****** at ***** *** ******* *** ** more ********* ** ** ******** * risk **** *** **** ** *** market ******.
Go-To-Market ********
********* ****** *** ********* ******** *** apps **** ******* ********* *******, ** seen ** *** ********** **** ***** site *****:
** * ******** **** ***** *** to ********* ******** ******* ***** *******, the ******** ** ******** ** * broker *******, *** ******* ****:
** **** ** ******* *******. ************ we ** **** ********* **** ***** out ** **, *** **’** ***** them ** *** ** *** ****** partners.
Types ** ********
********* **** **** *** * ****** of********* ******** ************ ** ***** ****, ********* ********* for ******* *********, **********, ******* *****, physical ********* *** ******* ********, *** technology *&* ********.
Software ********
*********'* ******** *********** ********* **-***** *** ** ********* of: ********** *******, ********** **********, ***** Manager, ****** *******, **** **********, ********* Response (*********** ******* ***********.)
**** *** *** ****** *********'* ************* tools *** ** ** ****** ****** to ********.
Competitive *********
********* **** ***** *****-******* ******** ** analyzing, ********** *** ******** *** **** aside **** ****** ** *** ********* space:
*** ******* ************ ******* ****** *** say **** ** **** *** ** is ** *** ** ****** ****-******. Others ******** ** **** * ******** perspective. ** ***** ******** ** ****, what ** ***.
** *** ** **** ********* **** take ********* ** *** ******* ************* tools, ********** **** *** ***** ** lower ******** *** ******* ****.
*******, ** ** **** ****** **** many ****** **** ***** **** ***** existing *******, **** **** *****, *** insurance ******** *** ******** ** *** their ********** ******** ************* *****.
Input **** ********* ****** *******
*********** ** * **** ***********, ** cyber-specialized, ********* ****** ** ********* ********. They *** **** *** ****** * wait-and-see ******** ** *** ********* *********:
** ** ********* ***** ******** *** have * ******* ********** ***** ********** companies *** ******* ** *** **** are **** **** ********* *** **** insurers.
*******
* *** **** ** ******* ****** to ** ** ************ ** ********* and ************* ********** *** **** *** if ********* ******* *** ********* *** of ************* ***** ** *** ***** premiums.
*******, ********* **** ********* *** ****** huge ******* ** **** ** ***** to ***** **** *** ** ***** to **** * ******* *** ***************. Where **** **** ** ******* ** so ***, *** ***** ********** *** whether ** *** **** **** **** be **** ** *** ** * statistic ** * ******?
**** *** *** ******* ** ****** to *** ******** ** ******* ** not ********* **** *** **** ** 3rd *******.
***** ****. ****** *** *** ********. I *** ***** ** **** *** respond ****.
**** ******* ********** ******** ** *** radar **** ** *** ****** ** *********** * **** ** * ****** installed ** ** ****** ******* ** California. ********* *** *********** ***** *** ****** in ******. **** **** ***** **** Coalition ***** *** **** *** ****'* what **** ****:
****: *** *** **** ** **** specifics ***** *** **** ********* ** Forbes?
**** *** **** *** ** ** a ***** ****, ********. ** *** just ********* **** ** ******** ** see. ** **** ****** ** * company ***** **** ***** **** *** attribution ****. **** ******* ***** **** the***** ************** ** *** **** ****** ******** pen *******. ** *** *** ******* on ********. *** ** *** ******* that ** *** *** **** ****** infrastructure. *** *'** ** **** ****** with ***, * ***’* ******** *** model ** *** ****** **** ***. But **** *** ****** **************. ** was * ***** ****** **** **** other *********. **** *** * *** camera *** **** *** * ***** lock ****** ** ** *** ****** infrastructure ** ****. **** ******* ***** share *** ***** ******** ********** ** their *** ******* *******. *** ****** would **** * **** ****** ****** up ** * ******, *** ** on *** ** *****. ****** *** course ** *** ******** *** ******* with **** *******, ** **** **** to ******** * ***-******** **** *** in **** ******, ***** *'* ******** ou *** ******** ***** ** **** of *** *****. *** ** ******** managed ** **** ***** ************* **** ****, ******* *** ******, get****** ***** ******. ** **** **** ** *** into *** **** **** *****, ** well. ** ** ***** ** ****** like ****** *** ****. *** **** we ******* ** ****** *** '** hey, **'** ********* ** * ******!' and '** ***, *****'* *** *******'* WiFi ******. *** *** *** ******* all *** ******* ******** ** ***** do ** *** **** ******** **** there. **’* *** ***** *** ***** of *** ******. ** ********* *** two ******* ** ******* *******. ******** grade *** **** **********. **** ***** has *** *** ***************. **** * camera *** *** **********, *********, *** cheaper **** *** *** ****** **** are ** *** **** ******* **** don’t ***** *****, *********. **** **** $10 ******* **** *****. ********* ** the **********, ** **'* * ***** business ******* *********, **** *** *** very ***** **** ******* *** ** lateral *********** ****** **** ********.
*** ******* ***** **** **** *** the **** ** *********** ******* **** do ** ********* * *******'* **** before ******** ********.
**** ********* ***** ***** ***** ******* tools ** * ********** *******? (*.*. without ***** ********* ********?)
**** *** **** ** **** ****, the ************* ***** *** **** ******* to *************
*** ***** ******** ********* *-****? ******* or *** *******?