Coalition Cyber Insurance Provides Holistic Solution to Today's Cyber Threats and Raises $250M
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As a provider of what it calls "active insurance", Coalition not only offers cyber threat insurance coverage, but also offers a real-time risk assessment tool that can provide profiles of an organization's digital risks in real time, and assistance in the event of an incident. in case of violation.
Since the organization was founded in 2017, Coalition has quickly established itself as one of the largest providers in the cybersecurity insurance market, which researchers valued at $11.9 billion in 2022 and which is expected to reach $29.2 billion in 2027.
Today, Coalition announced that it has raised $250 million in a Series F funding round. The new funding brings the organization's valuation to $5 billion.
One of the main reasons for the rapid growth of Coalition, and the cyber insurance market as a whole, is that companies urgently need solutions to mitigate the financial impact of intrusions. The average cost of a breach in 2021 was $4.24 million, and cyber insurance has the potential to reduce the total cost.
EventTransform 2022
Join us at the leading Applied AI event for enterprise business and technology decision makers on July 19 and virtually July 20-28.
register here Reduce the Cost of a Data Breach with Cyber InsuranceAn increase in the volume and sophistication of modern attacks has driven businesses to use cyber insurance to mitigate the financial risk associated with data breaches.
Today, many organizations realize that they are unable to adequately control cyber risk across the entire attack surface. Studies show that 83% of companies say they are not sufficiently protected against digital threats. This underscores that modern cyber threats are simply too complex for businesses to tackle with complete consistency.
“People are often still surprised at how dependent our economy is on digital technologies connected to digital systems. 'one way or another of a digital system,'” said Shawn Ram, head of insurance at Coalition.
"But when an incident hits these digital systems, there's no 911 to call, no responders who can show up to help. Large organizations can have a large security and IT team, but small and medium-sized businesses are often left to fend for themselves,” Ram said.
Ram explains that Coalition aims to provide support to these organizations, mitigating cyber risks by providing tools and coverage that can help before, during...
We're excited to bring Transform 2022 back in person on July 19 and virtually from July 20-28. Join leaders in AI and data for in-depth discussions and exciting networking opportunities. Sign up today!
As a provider of what it calls "active insurance", Coalition not only offers cyber threat insurance coverage, but also offers a real-time risk assessment tool that can provide profiles of an organization's digital risks in real time, and assistance in the event of an incident. in case of violation.
Since the organization was founded in 2017, Coalition has quickly established itself as one of the largest providers in the cybersecurity insurance market, which researchers valued at $11.9 billion in 2022 and which is expected to reach $29.2 billion in 2027.
Today, Coalition announced that it has raised $250 million in a Series F funding round. The new funding brings the organization's valuation to $5 billion.
One of the main reasons for the rapid growth of Coalition, and the cyber insurance market as a whole, is that companies urgently need solutions to mitigate the financial impact of intrusions. The average cost of a breach in 2021 was $4.24 million, and cyber insurance has the potential to reduce the total cost.
EventTransform 2022
Join us at the leading Applied AI event for enterprise business and technology decision makers on July 19 and virtually July 20-28.
register here Reduce the Cost of a Data Breach with Cyber InsuranceAn increase in the volume and sophistication of modern attacks has driven businesses to use cyber insurance to mitigate the financial risk associated with data breaches.
Today, many organizations realize that they are unable to adequately control cyber risk across the entire attack surface. Studies show that 83% of companies say they are not sufficiently protected against digital threats. This underscores that modern cyber threats are simply too complex for businesses to tackle with complete consistency.
“People are often still surprised at how dependent our economy is on digital technologies connected to digital systems. 'one way or another of a digital system,'” said Shawn Ram, head of insurance at Coalition.
"But when an incident hits these digital systems, there's no 911 to call, no responders who can show up to help. Large organizations can have a large security and IT team, but small and medium-sized businesses are often left to fend for themselves,” Ram said.
Ram explains that Coalition aims to provide support to these organizations, mitigating cyber risks by providing tools and coverage that can help before, during...
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