Carrier will provide capacity for its US cyber insurance programs and lead Coalition’s UK cyber program when it launches
Allianz has announced a multi-year partnership with Coalition, a leading cyber insurance and security provider, headquartered in San Francisco. Allianz provides Coalition with long-term committed capacity for its US cyber insurance programs and will lead Coalition’s UK cyber program when it launches later this year.
“Cyber is one of the top risks for businesses globally and while the risk landscape is not getting any easier, we are expanding our offering for customers,” said Scott Sayce, Global head of Cyber at Allianz.
“We constantly urge our customers to strengthen their cyber defenses and, with its innovative approach to cyber risk, Coalition has proven that data and technology can be very effective to prevent and resolve cyber claims.”
Coalition combines cyber coverage with AI-powered security tools to help customers spot, prevent and respond to cyber risk. Proactive and real-time risk screenings deliver accurate insights on digital risks, while 24/7 access to incident response experts enable organisations to respond to threats at early stage.
Shawn Ram, head of Insurance at Coalition, commented: “There are far too many companies who simply aren’t prepared to manage and mitigate cyber risk. Coalition’s approach offers demonstrably better protection from cyber threat and with Allianz’s support we will be able to help protect more organisations worldwide.”