Coalition welcomes Vantage to provide capacity for its cyber insurance programs
New carrier partner now provides capacity on Coalition’s excess cyber program, powering Coalition’s next wave of growth
SAN FRANCISCO – APRIL 27, 2022 – Coalition, the world’s first Active Insurance Company, today announced the addition of Vantage to back its US excess cyber program through its Vantage Risk Specialty Insurance Company.
Over the past year, Coalition’s run rate GWP (gross written premium) has grown to exceed $650 million, as the company achieves high growth at scale. Coalition year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 160,000+ customers. Coalition’s Active Cyber and Active Executive Risk products combine insurance coverage with technology to help organizations assess, protect, and respond to digital risk. This data-driven approach to underwriting and active monitoring of threats has resulted in Coalition policyholders experiencing 70% fewer claims than the rest of the insurance market.
"Vantage's approach to ‘Seeing Risk Differently’ is further complemented by partnering with Coalition," said Alex Blanco, CEO of Insurance at Vantage. "We are excited to be working with Coalition, whose data-driven underwriting and unique approach to active protection of their policyholders will enhance Vantage's evolving Cyber capabilities and offerings."
“We are excited to welcome Vantage to our Coalition as we work to solve cyber risk and provide security for all,” said Shawn Ram, Head of Insurance at Coalition. “Coalition’s active approach to insurance helps to spot and mitigate risks before they strike, allowing us to continue our growth with new capacity providers while the majority of the cyber market is receding.”
To learn more about Coalition, visit coalitioninc.com. To learn more about Vantage, visit vantagerisk.com.
About Coalition
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance North America, Lloyd’s of London, and Ascot Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across 9 provinces and 3 territories in Canada. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, and now Vancouver and Toronto.
About Vantage
Vantage Group Holdings Ltd. (Vantage) was established in late 2020 as a re/insurance partner designed for the future. Driven by relentless curiosity, our team of trusted experts provides a fresh perspective on our clients’ risks. We add creativity to tech-enabled efficiency and robust analytics to address risks others avoid. Vantage operating subsidiaries Vantage Risk Ltd., Vantage Risk Assurance Company, and Vantage Risk Specialty Insurance Company are rated “A-” (Excellent) by AM Best.
Insurance products offered by Coalition may be written on behalf of third-party carriers including Allianz Group* (A.M. Best A+ rating), Arch Specialty Insurance Company (A.M. Best A+ rating), Ascot Group** (A.M Best A rating), Fortegra Group (A.M. Best A- rating), Lloyd’s of London (A.M. Best A+ rating), Swiss Re Corporate Solutions*** legal entities (A.M. Best A+ rating), Vantage Risk Specialty Insurance Company (A.M. Best A- rating), and Chaucer Insurance Company DAC (A.M. Best A rating).
