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 ***** ****.

***, * ******* ****** ******* named ********* ** ******** * ********* approach, ********* ********* **** cybersecurity ********.

*** ******* ****** **** positions **** ** ******* better, **** ******** ******** at * ***** ******* since ***** ********* ******—********* risk, ******** ******* ****, and ********** ******* ****—****** a "******** ****" ** *********,  insuring, *** ********** **** makes *** ****** ** the ******* **** ******** and ****-*********. 

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

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

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

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

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

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

********* **** ********* *** ******** monitored ***** ******* *** vulnerabilities ***** *** *******'* cybersecurity ******** ***** ***** be *****-**** ********:

**** **’** ****** ** 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 ***. ********* *** *** of *** ***** ** develop ***** *** ****** monitoring ********** **-***** *** become ** *******, ******.

*********** **** ** ** 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, Ransomware **********, ***** *******, Threat *******, **** **********, HackerOne ******** (*********** ******* by*********.)

**** *** *** ****** 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)

*** ***** ******** ********* 0-days? ******* ** *** covered?

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

**** ******* ********** ******** on *** ***** **** we *** ****** ** *********** * **** ** a ****** ********* ** an ****** ******* ** California. ********* *** *********** ***** the ****** ** ******. IPVM **** ***** **** Coalition ***** *** **** and ****'* **** **** said:

****: *** *** **** 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.

**** ********* ***** ***** cyber ******* ***** ** a ********** *******? (*.*. without ***** ********* ********?)

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

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports

Directory of 68 Video Surveillance Startups on Sep 18, 2019
This directory provides a list of video surveillance startups to help you see and research what companies are new or not yet broadly known. 2019...
Schmode is Back, Aims To Turn Boulder AI Into Giant on Sep 16, 2019
One of the most influential and controversial executives in the past decade is back. Bryan Schmode ascended and drove the hypergrowth of Avigilon...
How Cobalt Robotics May Disrupt Security on Sep 13, 2019
While security robots have largely become a joke over the last few years, one organization, Cobalt Robotics, has raised $50+ million from top US...
ASIS GSX 2019 Final Show Report on Sep 12, 2019
IPVM went to Chicago for ASIS GSX 2019, with many exhibitors disappointed about traffic and the exhibitor schedule changing next year. However,...
Installation Course - Last Chance - Register Now on Sep 12, 2019
Last Chance - Register Now - September 2019 Video Surveillance Install Course. Thursday, September 12th is your last chance to register for the...
US State Department: "Chinese Tech Giants" "Tools of the Chinese Communist Party" on Sep 12, 2019
The US State Department has called out "Chinese tech giants" for being "tools of the Chinese Communist Party" in a blunt new speech that makes...
Genetec Stratocast VSaaS Tested on Sep 05, 2019
The VSaaS market is rapidly expanding in 2019, with Verkada, Meraki, Eagle Eye, Avigilon and numerous startups growing their market share. When we...
Top Ways Security Integrators Improve Their Careers on Sep 03, 2019
With DIY products expanding and the future of integration debated, how do integrators stay sharp so they are not left behind? 180+ integrators...
Scylla AI Video Analytics Company Profile on Aug 29, 2019
Scylla, an AI analytics startup, says they are targeting 1 Billion dollar valuation in 5 years and it "is not rocket science" to detect weapons and...
Register Now - October 2019 IP Networking Course on Aug 28, 2019
Register now for the Fall 2019 IP Networking Course. This is the only networking course designed specifically for video surveillance...

Most Recent Industry Reports

Open Access Controller Guide (Axis, HID, Isonas, Mercury) on Sep 19, 2019
In the access control market, there are many software platforms, but only a few companies that make non-proprietary door controllers. Recently,...
Axis Perimeter Defender Improves, Yet Worse Than Dahua and Wyze on Sep 19, 2019
While Axis Perimeter Defender analytics improved from our 2018 testing, the market has improved much faster, with much less expensive offerings...
Directory of 68 Video Surveillance Startups on Sep 18, 2019
This directory provides a list of video surveillance startups to help you see and research what companies are new or not yet broadly known. 2019...
Uniview Prime Series 4K Camera Tested on Sep 18, 2019
Is the new Uniview 'Prime' better than the more expensive existing Uniview 'Pro'? In August, IPVM tested Uniview 4K 'Pro' but members advocated...
US Army Base To Buy Banned Honeywell Surveillance on Sep 17, 2019
The U.S. Army's Fort Gordon, home to their Cyber Center of Excellence, has issued a solicitation to purchase Honeywell products that are US...
Vivotek "Neural Network-Powered Detection Engine" Analytics Tested on Sep 17, 2019
Vivotek has released "a neural network-powered detection engine", named Smart Motion Detection, claiming that "swaying vegetation, vehicles passing...
Schmode is Back, Aims To Turn Boulder AI Into Giant on Sep 16, 2019
One of the most influential and controversial executives in the past decade is back. Bryan Schmode ascended and drove the hypergrowth of Avigilon...
Manufacturers Unhappy With Weak ASIS GSX 2019 And 2020 Shift on Sep 16, 2019
Manufacturers were generally unhappy with ASIS GSX, both for weak 2019 booth traffic and a scheduling shift for the 2020 show, according to a new...
How Cobalt Robotics May Disrupt Security on Sep 13, 2019
While security robots have largely become a joke over the last few years, one organization, Cobalt Robotics, has raised $50+ million from top US...
Panasonic 4K Camera Tested (WV-S2570L) on Sep 13, 2019
Panasonic has released their latest generation 4K dome, the WV-S2570L, claiming "Extreme image quality allows evidence to be captured even under...