Swiss Re and Argo Back Coalition to Solve Cyber Risk
San Fran-based Coalition is live . Look:
The risk management and cyber insurance startup is the creative work of Joshua Motta and John Hering; the duo collaborated with Argo and Swiss Re to offer a full suite of cybersecurity products to SMBs. Through Coalition’s online platform, insurance brokers are able to generate a quote in minutes and also provide their SMB clients with access to Coalition’s proprietary cybersecurity apps that are designed to detect, manage and mitigate threats. Keyword: brokers.
“Cybersecurity is broken. We’ve experienced first-hand the difficulty of protecting an organization from constantly evolving cyber and technological threats. From systems failure to hacking, human error to denial of service attacks, no amount of investment in defenses has solved the problem. Our insurance-enabled, technology-driven platform addresses these risk management gaps for SMBs to help them prevent losses and remain resilient should the worst come to pass” – Coalition CEO Joshua Motta.
The startup is now introducing two of its own proprietary insurance products. One. Cyber insurance. Two. E&O. Together, policyholders will enjoy coverage against “social engineering, systems failure, internet of things (IoT) devices, and even physical cyber attacks.” Bottom Line: “Pricing starts at only $200/yr.”