Silicon Valley Cybersecurity Insurance Startup Coalition Profile

By: Dan Gelinas, Published on Mar 20, 2019

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

**** ******** ****** ******* cybersecurity ********* ** *** worth **, ** *** voting *** ****** ** our************* ********* *** ******** Integrators *********.

***, * ******* ****** startup **************** ******** * ********* approach, ********* ********* **** cybersecurity ********.

*** ******* ****** **** positions **** ** ******* better, **** ******** ******** at * ***** ******* since ***** ********* ******—********* risk, ******** ******* ****, and ********** ******* ****—****** a "******** ****" ** examining, ********, *** ********** that ***** *** ****** of *** ******* **** informed *** ****-*********.

** **** ****, ***** on *** ***** **** Coalition *** ***** ***** insurance ********* ******,***********, ** *******:

  • **** *********** ** ********* and ********
  • *** *******'* **********
  • ***********
  • *******
  • *******
  • *******
  • **-**-****** ********
  • ***** ** ********
  • ******** ********
  • *********** *********
  • ***** **** ********* ****** partner
  • *******

[***************]

Two ***** ** **********

********* **** **** ******* out ******** *** **** of *** ******** ****** branching **** *** *****:

** ******* ** ********* and **** ******* ******** tools.

********* **** ********* *** actively ********* ***** ******* for *************** ***** *** company's ************* ******** ***** would ** *****-**** ********:

**** **’** ****** ** do ** *** **** be ** ********* *******, but **** ******** *** experience *** *** *****. We ******* *** ******** the ***** ** ** better ****** **** **** time.

********* **** **** ***** lower ********:

** *** ** **** people ****** ******** ** they’re ****** *****.

Company **********

*** *********-************** *** **-******* ** 2017** ********* ******** *** ** *********:

******** */* ** *** 35 *** *********** *** data ******* *** *** remaining */* ** **** sales *** **** ********** and **********.

** *** ***** ** a ****, *** ****** is **** ** ** Coalition's ********* *******,***** **,******* ***.

**********

*** ******** ** ****************** ***** **** * contraction ** *** ***** "insurance" *** "**********," *** comes **** *** **** of ***** ********** ** economize, ** **** ** the ********** **** ************ below:

Others ** *** *****

***** ********* ******** **** insurance *** ************* ***** include***********-***.

*******, ********* *************, * ********* ****** specializing ** ***** ********* and ************ **** ***** insurers ** *** ******, Coalition *** *** ** the ***** ** ***** cyber ********* *** ******-***** technological ***** ******** ** the *** **** **:

*****’** * *** ** cowboys *** ***** ****** to **** ****** ***** right ***. ********* *** one ** *** ***** to ******* ***** *** threat ********** ********** **-***** and ****** ** *******, though.

*********** **** ** ** Coalition's ****, *****-********* ********* broker *** ********* ********** their *******.

10,000 ******** *******

*** ******* ****** ** have "** *** ***** of **,***" ****** ******** that ****'** ****.

*******, **** *** **** have "************ ******** ** companies" ** ***** ** more ********** ******* **** and ***** **** ********* priced ********:

** ******* *********** ** the ****** ******** ** an ******* ***** *** use **** *********** ** map *** ********** *** risk ** ******** ** companies. **** ** *********** that ** *** **** and ** * ******* requests * ***** **** us.

********* ** ***********, *******, many *** ******** ** the ****** **** ***** own ********** *** ****** to ** ******** **** for *** ********** **** of *** ********, ***** and ********. **** ******* that ** *** *** might *** ***** ******* in ***** ** ******** analyzed ** “************,” *** a ********* ****** ** policies ******** ******:

*** *** ********* ** cyber *********, ***** ********** are ********** ** ********* the ******** ** ***** but ** *** **** concerned **** **** **** will **** **** **** they ***** ** *** claims ** ***** ***** books ** ********.

*******

** ******** ****, *** company********* $** ******* ****** in ****** * *******, **** ************ ************* ******(** ******** ******** ********** ****** ****),****** *******,*** ******(********* *** **********),***** ****** ********, ***** *******.

*******

*** ******* ***** *** share **'* **** *******, but **** **** ** gained ******* **** * wide ******* ** ******** with ****** ********* ***** points:

***** ** ****’* **** to ******* * ******* on ******* ** *** moment, ** *** ***** that ** ***** ********* of *** *****, **** individual ********** ********** **** a $**,*** ***** *** policies ** *** ** $50, ** ***** *********** with ** ** * $10 ******* ***** *** policies **** ***** ** $100,000.”

*******

** **** ********* ** revenue, ********* *** *** share ********* ** *******, but *** **** **** their ******** ****** ** cover ******, ******* **********:

* *** ** ******* depends ** *** **** of *** *******, **** their ******** ** *** where ****'** *******. **’* much **** ********* ** it’s * **** ******* than ** ** *** a ***** ******’* ******.

*** ******* ************ ****, if ***** ** ***** software **** *****, * company *** ** ** found ** ****** **** that **** ***** ****** higher *****:

*** ********* ******* ** often ******* **** *** market ******* ** ******* we *** ****** ****** (and ********* ***** *** risk) **** ******, ****** at ***** *** ******* can ** **** ********* if ** ******** * risk **** *** **** of *** ****** ******.

Go-To-Market ********

********* ****** *** ********* policies *** **** **** through ********* *******, ** seen ** *** ********** from ***** **** *****:

** * ******** **** reach *** ** ********* directly ******* ***** *******, the ******** ** ******** to * ****** *******, the ******* ****:

** **** ** ******* brokers. ************ ** ** have ********* **** ***** out ** **, *** we’ll ***** **** ** one ** *** ****** partners.

Types ** ********

********* **** **** *** a ****** *********** ******** ************ ** ***** ****, including ********* *** ******* liability, **********, ******* *****, physical ********* *** ******* coverage, *** ********** *&* coverage.

Software ********

*********'* ******** *********** ********* **-***** *** is ********* **: ********** Monitor, ********** **********, ***** Manager, ****** *******, **** Mitigation, ********* ******** (*********** testing ***********.)

**** *** *** ****** Coalition's ************* ***** *** so ** ****** ****** to ********.

Competitive *********

********* **** ***** *****-******* approach ** *********, ********** and ******** *** **** aside **** ****** ** the ********* *****:

*** ******* ************ ******* others *** *** **** do **** *** ** is ** *** ** remain ****-******. ****** ******** it **** * ******** perspective. ** ***** ******** on ****, **** ** see.

** *** ** **** customers **** **** ********* of *** ******* ************* tools, ********** **** *** offer ** ***** ******** for ******* ****.

*******, ** ** **** likely **** **** ****** will ***** **** ***** existing *******, **** **** trust, *** ********* ******** and ******** ** *** their ********** ******** ************* tools.

Input **** ********* ****** *******

*********** ** * **** traditional, ** *****-***********, ********* broker ** ********* ********. They *** **** *** taking * ****-***-*** ******** to *** ********* *********:

** ** ********* ***** products *** **** * healthy ********** ***** ********** companies *** ******* ** not **** *** **** data ********* *** **** insurers.

*******

* *** **** ** company ****** ** ** an ************ ** ********* and ************* ********** *** take *** ** ********* embrace *** ********* *** of ************* ***** ** get ***** ********.

*******, ********* **** ********* are ****** **** ******* of **** ** ***** to ***** **** *** in ***** ** **** a ******* *** ***************. Where **** **** ** company ** ** ***, are ***** ********** *** whether ** *** **** data **** ** **** or *** ** * statistic ** * ******?

**** *** *** ******* an ****** ** *** question ** ******* ** not ********* **** *** sold ** *** *******.

Comments (5)

*** ***** ******** ********* *-****? ******* ** *** *******?

***** ****. ****** *** the ********. * *** check ** **** *** respond ****.

**** ******* ********** ******** on *** ***** **** we *** ****** ** *********** * **** ** a ****** ********* ** an ****** ******* ** California. ********* *** *********** about *** ****** ** Forbes. **** **** ***** with ********* ***** *** hack *** ****'* **** they ****:

****: *** *** **** me **** ********* ***** the **** ********* ** Forbes?

**** *** **** *** me ** * ***** life, ********. ** *** just ********* **** ** happened ** ***. ** both ****** ** * company ***** **** ***** with *** *********** ****. This ******* ***** **** the***** ************** ** *** **** pretty ******** *** *******. It *** *** ******* on ********. *** ** the ******* **** ** had *** **** ****** infrastructure. *** *'** ** real ****** **** ***, I ***’* ******** *** model ** *** ****** they ***. *** **** had ****** **************. ** was * ***** ****** with **** ***** *********. They *** * *** camera *** **** *** a ***** **** ****** up ** *** ****** infrastructure ** ****. **** company ***** ***** *** joint ******** ********** ** their *** ******* *******. One ****** ***** **** a **** ****** ****** up ** * ******, and ** ** *** so *****. ****** *** course ** *** ******** and ******* **** **** company, ** **** **** to ******** * ***-******** back *** ** **** camera, ***** *'* ******** ou *** ******** ***** is **** ** *** worse. *** ** ******** managed ** **** ***** ************* **** ****, ******* the ******, ********* ***** ******. ** **** **** to *** **** *** lock **** *****, ** well. ** ** ***** do ****** **** ****** the ****. *** **** we ******* ** ****** out '** ***, **'** connected ** * ******!' and '** ***, *****'* the *******'* **** ******. And *** *** ******* all *** ******* ******** we ***** ** ** get **** ******** **** there. **’* *** ***** the ***** ** *** device. ** ********* *** two ******* ** ******* systems. ******** ***** *** then **********. **** ***** has *** *** ***************. From * ****** *** IoT **********, *********, *** cheaper **** *** *** easier **** *** ** get **** ******* **** don’t ***** *****, *********. Like **** $** ******* from *****. ********* ** the **********, ** **'* a ***** ******** ******* resources, **** *** *** very ***** **** ******* due ** ******* *********** remote **** ********.

*** ******* ***** **** this *** *** **** of *********** ******* **** do ** ********* * company's **** ****** ******** coverage.

**** ********* ***** ***** ***** ******* ***** ** * ********** product? (*.*. ******* ***** ********* ********?)

**** *** **** ** this ****, *** ************* tools *** **** ******* to *************

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