Cyber risk underwriting platforms for US insurers: data view (April 2026)
Structured data view of the cyber risk underwriting and analytics vendor landscape for US insurers. Category combines three product shapes: attack-surface / external-signal platforms (BitSight, SecurityScorecard, Black Kite), cyber-cat-modelling platforms (CyberCube, Guidewire Cyence, Moody's), and insurer-operated MGAs / platforms (Coalition, Resilience, At-Bay). Carriers mix two or three of these rather than picking one.
CyberCube leads cyber-cat modelling for cedents and reinsurers.
BitSight and SecurityScorecard are the broadest external-signal platforms.
Coalition is the insurer-operated cyber MGA with the deepest direct-underwriting telemetry.
Black Kite and Resilience compete in adjacent positions.
Guidewire Cyence is the embedded option for Guidewire shops.
Which to pick
| Scenario | Recommended |
|---|---|
| Cyber cat modelling for cedents / reinsurers | CyberCube |
| External attack-surface monitoring at scale | BitSight or SecurityScorecard |
| Insurer-operated cyber MGA with proprietary telemetry | Coalition |
| Already on Guidewire looking for native cyber analytics | Guidewire Cyence |
| Third-party-risk emphasis for large enterprise | Black Kite |
Ranking criteria
- Category (external signal vs cat model vs MGA-operated)
- Named US carrier / reinsurer deployments
- Telemetry depth (direct from insured enterprise vs external scan)
- Integration with PAS / underwriting platform
- Funding / valuation signal
US-heritage cyber cat modelling. Deep reinsurer references. Series C 2024.
See metrics and sources tables below.
Insurer-operated cyber MGA. Proprietary telemetry from direct-insured enterprises. Valuation >$5B in late 2022.
See metrics and sources tables below.
bitsight
External attack-surface rating at scale. Moody's has held a strategic minority investment since 2021 ($250M); expanded product partnership integrated BitSight signals into Moody's Analytics in 2025.
See metrics and sources tables below.
Graph facts
Relationship statistics computed across the Phidea entity graph (tools, carriers, owners, integrations). These facts require cross-referencing multiple primary sources; they are not retrievable from any single vendor press release or analyst report.
- Category trichotomy
External-signal platforms (BitSight, SecurityScorecard, Black Kite), cat-model platforms (CyberCube, Cyence), and insurer-operated MGAs (Coalition, Resilience, At-Bay) occupy distinct positions. Most carriers run at least one from two of the three categories.
- Moody's analytics concentration
Moody's owns RMS (catastrophe, since 2021) and Cape Analytics (property attributes, since Jan 2025). Moody's also holds a strategic minority investment in BitSight ($250M, 2021) with an expanded 2025 product partnership integrating BitSight signals into Moody's Analytics. Three of the most widely-used analytics platforms in US P&C and cyber underwriting are under material Moody's influence though BitSight remains independent.
- Insurer-operated MGA maturation
Coalition, Resilience, and At-Bay each raised Series D+ rounds or Series E. The insurer-operated cyber MGA has crossed the threshold from experiment to established channel.
Navigate the graph
Feature comparison
Capability flags on publicly disclosed evidence.
| Feature | CyberCube | Coalition | bitsight | securityscorecard | cyence |
|---|---|---|---|---|---|
Cyber cat modelling (systemic loss) | Yes | Partial | Partial Aggregate analytics | Partial | Yes |
External attack-surface scan | Partial | Yes | Yes | Yes | Partial |
Direct-insured telemetry | No | Yes | No | No | No |
Insurer-operated MGA structure | No | Yes | No | No | No |
Guidewire-native integration | Partial | — | — | — | Yes |
Public or Series D+ private | Yes Series C 2024 | Yes ~$5B valuation 2022 | Yes Moody's minority strategic investor since 2021 ($250M); partnership expanded 2025 | Yes Series E 2021 | Yes Parent publicly traded |
Publicly disclosed metrics
Quantitative facts sourced to primary URLs. Every row links to the document that first disclosed the number.
| Vendor | Metric | Value | Source |
|---|---|---|---|
| CyberCube | Series C funding Series C close 2024 extending runway into US + UK market | $50M+ | primary source accessed 2026-04-23 |
| Coalition | Valuation Late-2022 valuation; cyber MGA with direct carrier-partner network | $5B+ | primary source accessed 2026-04-23 |
| bitsight | Moody's strategic investment Moody's invested $250M in BitSight in 2021 as largest shareholder with minority stake. Partnership expanded in 2025 to integrate BitSight cyber signals into Moody's Analytics products. No acquisition. | $250M (2021) | primary source accessed 2026-04-23 |
| cyence | Parent acquisition Cyence acquired by Guidewire in 2017; embedded in Guidewire product suite | $275M (2017) | primary source accessed 2026-04-23 |
Also considered
- securityscorecard
External attack-surface rating; comparable to BitSight. Growing cyber-insurance footprint.
- black-kite
Third-party-risk-focused. Used by carriers emphasising vendor-risk exposure of insureds.
- cyence
Guidewire Cyence; embedded cyber analytics for Guidewire shops. Less independently competitive than CyberCube.
- resilience
Cyber-insurance carrier with analytics layer; competes with Coalition in the insurer-operated category.
- At-Bay
Cyber MGA with proprietary scan telemetry; Series E 2022. Growing US carrier-partner network.
Sources
- CyberCube — CyberCube
- Coalition — Coalition
- BitSight — BitSight
- SecurityScorecard — SecurityScorecard
- Guidewire (Cyence) — Guidewire