Coalition revenue grew over 400% in 2021 and continues to accelerate with software-enabled insurance products designed for digital risks
SAN FRANCISCO, March 01, 2022 (GLOBE NEWSWIRE) — Coalition, the world’s first Active Insurance provider, reported today on its rapid growth and launched Active Insurance, a new tech-powered model for insurance and risk management designed to prevent digital risk before it strikes. With Coalition’s Active Cyber Insurance and Active Executive Risks Insurance, brokers and policyholders can access a live view of current risks and receive updates as risk levels change.
March marks the company’s fifth anniversary and new growth metrics reveal that Coalition’s business continues to accelerate as it sets the new standard for the future of insurance.
Key growth highlights include:
- Year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 140,000+ customers.
- Coalition run rate GWP (gross written premium) now exceeds $650 million, as the company achieves high growth at scale.
“The insurance industry is still in the early days of transformation and Coalition’s incredible growth is proof positive that Active Insurance will be the new standard for managing and mitigating risk moving forward,” said Coalition CEO and co-founder Joshua Motta. “We believe that every organization deserves to thrive in the digital economy and our data-powered coverage is helping both brokers and policyholders manage digital risk.”
Coalition’s Active Insurance model goes far beyond traditional insurance by providing technology and expert support before, during, and after an incident occurs. Coalition’s Active Insurance includes:
- Active Risk Assessment: Personalized profiles of an organization’s digital risks in near real-time, made possible by powerful data and AI that streamline the quoting process, enable accurate pricing, and identify potential issues from the start, an insight that most organizations never get from their insurer.
- Active Protection: Continuous scanning and monitoring of digital assets and other risk factors associated with cyber and executive risks, including personalized alerts for critical issues so brokers and policyholders know when risks change.
- Active Response: Support and guidance from an in-house team of experts who can respond to incidents as they occur to address threats, reduce exposure and get companies back up and running quickly when incidents strike.
Coalition’s Active Cyber policies already include monitoring and alerting accessible directly on coalitioninc.com and Active Executive Risks policies offer downloadable risk assessments. Today, brokers can access the first-of-its-kind executive risk assessment when they generate a quote on coalitioninc.com and share key risk details with their customers.
“Traditional insurance simply wasn’t built for a hyper-connected digital world,” says Motta. “We have to reimagine what risk mitigation and business resilience look like for today and tomorrow. Active Insurance does more than just transfer risk. It sets a new standard by spotting and mitigating many of those risks before they strike and providing support both during and after an incident. Active Insurance is the future and it requires a level of deep technical expertise that few others are ready to deliver.”
More details on Active Insurance can be found at coalitioninc.com/active and accessed by downloading the Active Insurance E-book.
Founded in 2017, Coalition is the world’s first Active Insurance company designed to prevent digital risk before it strikes. Coalition is on a mission to provide security for all and create a safe digital economy where everyone can thrive by providing cyber, executive risks, and P&C insurance policies paired with active risk assessment and monitoring technology to help small and medium-sized organizations protect themselves in a digital world. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance, Lloyd’s of London, and Zurich North America, Coalition provides companies in the U.S. and Canada with up to USD $15 million of cyber and technology insurance coverage and up to $5 million of executive risks coverage. As of September 2021, Coalition has raised $520 million from Index Ventures, Ribbit Capital, Valor Ventures, Durable Capital, T. Rowe Price Associates, and Whale Rock Capital.
Highwire PR for Coalition
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