Coalition
Cyber MGA and attack-surface risk platform that automates underwriting via real-time threat intelligence and proprietary loss data, issuing policies without human underwriters.
www.coalitioninc.com ↗Score
- Traction (named carrier deployments)3 carrier deployment(s) with public source.
- 2/5
- Maturity (years since founding)9 years since founding (2017).
- 3/5
- Coverage (insurance lines supported)1 line(s) supported: specialty.
- 1/5
- Analyst recognition (Celent / Gartner / Forrester / Everest / ISG)2 mention(s).
- 2/5
What it does
Coalition is a cyber MGA founded in 2017 by Joshua Motta and John Hering. It combines insurance distribution with proprietary attack-surface risk-scoring technology to automate underwriting for cyber policies in the United States, UK, Canada, and Australia.
Business footprint. Coalition raised $250 million in Series F in July 2022 at a $5 billion valuation. Cumulative funding across all rounds exceeds $800 million. In March 2022, Coalition's run-rate gross written premium reached nearly $775 million while serving over 160,000 customers. The company is licensed in all 50 U.S. states and DC and holds rate-quote-bind authority — no human underwriter approval required.
Capacity and partnerships. Coalition does not underwrite directly. Allianz, Swiss Re, Arch Insurance, Lloyd's syndicates, and Ascot Group provide capacity. In June 2022, Allianz entered a multi-year partnership to back all Coalition U.S. non-admitted cyber programs and lead the UK operation. This structural dependence on reinsurer relationships is the defining constraint of the MGA model.
Core product: Coalition Control + Active Insurance. Coalition's proprietary risk engine, Coalition Control, ingests public data, threat intelligence feeds, and its own historical loss and claims data to score attack-surface exposure — perimeter security hygiene, VPN configuration, email authentication, credential exposure, etc. The Active Cyber Policy ties underwriting and claims resolution to continuous risk monitoring. The underwriting system evaluates risk in real time without human submission review. Active policyholders experience claims frequency 73% below the cyber insurance industry average, and 64% of Coalition's closed claims are resolved at zero cost to the policyholder.
What it replaces. Coalition automates the legacy cyber underwriting workflow: manual submission review by underwriting staff, multi-week turnaround, limited visibility into applicant risk posture. The MGA sells through brokers; it replaces both in-house cyber teams at carriers and traditional cyber MGA workflows.
Market positioning and gaps. Coalition publishes annual Cyber Claims Reports and Cyber Threat Index data, positioning itself as a thought leader. However, it does not appear in publicly indexed Gartner, Forrester, or Celent leader quadrants for cyber insurance in 2023–2025. Recognition is concentrated in trade press (Insurance Journal, InsurTech Digital, Insurance Business). No named Fortune 500 policyholders or carriers are public. Coalition's claims data come from its own book only; independent validation of risk-scoring efficacy is limited.
Market headwinds. The cyber insurance market entered its first-ever premium decline in 2024 (−2.3% year-over-year direct written premium). However, claims severity rose 10% and frequency rose 13%, driving a market hardening cycle. S&P Global Ratings forecasts a 15–20% premium increase in 2026 due to persistent ransomware costs, AI-driven attacks, and infostealer credential theft surges. Coalition's revenue scales with written premium and capacity partner appetite. If hardening reduces volume or if partners reduce syndicated placements, growth stalls.
Named deployments
- Allianz (US)Globe Newswire
- Swiss Re (US)Intelligent Insurer
- Arch Insurance (US)Intelligent Insurer
Known limitations
- Coalition depends entirely on capacity partners (Allianz, Swiss Re, Arch, Lloyd's, Ascot) for insurance backing. It is an MGA, not a direct carrier — policy issuance and loss absorption sit with partners, not Coalition. (Globe Newswire)
- The cyber insurance market is hardening. S&P Global Ratings forecasts a 15–20% premium increase in 2026 due to rising claims severity and attack vectors. Coalition's growth depends on a market appetite for underwritten cyber capacity that may constrain pricing power. (WTW)
- Coalition's attack-surface risk scoring correlates with claims only in its own book. Analyst recognition from Gartner, Forrester, or Celent remains absent from publicly indexed cyber insurance quadrants in 2024–2025, limiting independent third-party validation. (Coalition)
Related essays
- 2026-05-17Cyber insurance for a law firm — Chubb for traditional, Hiscox for solo, Coalition for tech-forward. Here's why.
Law-firm cyber sits on three exposures no other vertical combines: client confidentiality under ABA Rule 1.6, trust-account (IOLTA) wire fraud, and litigation-hold data on the network. Chubb, Hiscox, and Coalition each cover a distinct firm shape — here's how to pick.
- 2026-05-07Cyber insurance for a healthcare practice — what HIPAA actually requires you to have.
Generic cyber insurance isn't enough for a healthcare practice. You need explicit HIPAA breach-notification coverage and Office for Civil Rights investigation coverage. Most off-the-shelf cyber policies sub-limit both. Here's what to look for, which carriers do it right, and what to actually buy.
- 2026-05-07Cyber insurance for a fintech — Coalition is the modal pick. Here's when to pick something else.
Coalition has become the default cyber carrier for most fintech startups in 2026. Their bundled security monitoring fits the fintech use case well. But Chubb, At-Bay, and Beazley are credible alternatives for specific situations. Here's the buying motion for fintech-specific cyber.
- 2026-05-07Cyber insurance for a SaaS startup — Coalition if your CTO buys, Chubb if your CFO buys.
Most SaaS founders ask the wrong question. It's not 'which carrier is best' — both Coalition and Chubb are credible. The right question is which buying committee at your startup is making the call. CTO-driven decision goes Coalition (security tooling included, modern API workflow). CFO-driven decision goes Chubb (AM Best A++ paper, balance-sheet depth). What you're actually optimizing for, in 2026.
- 2026-05-04Coalition is winning the commercial-cyber LLM surface that Chubb owned eight days ago.
Round 2 of Phidea's observation work concluded that Chubb wins commercial cyber across verticals. Re-running the same probes 8 days later shows Coalition winning 3 of 5 cyber verticals on at least one LLM. The retrieval surface for B2B cyber is visibly shifting; the round-2 claim needs softening.