Cyber insurer Coalition adds Vantage to its excess program

Cyber insurance platform Coalition has added Vantage, a re/insurance partner established in 2020, to its US excess cyber program through its Vantage Risk Specialty Insurance Company.

Coalition offers cyber insurance, as well as security tools to help mitigate and manage cyber risk. Some of its features include continuous attack surface monitoring, security recommendations and a risk assessment of exposures.

Over the past year, Coalition’s run rate gross written premium has exceeded $650m and its year-over-year revenue increased by 400%.

Vantage CEO of insurance Alex Blanco said, “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.”

Last month, Coalition partnered with Armorblox to help companies improve their email security. Through Coalition Control organisations can mitigate their cyber risk and securing communication.

Armorblox’s platform leverages natural language understanding to analyse and identify targeted financial fraud, business email compromise and phishing attacks.

Coalition reached a $3.5bn valuation in 2021 following the close of its $205m Series E. The round was co-led by Durable Capital, T.Rowe Price Associates and Whale Rock Capital.

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