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Cyber MGA Coalition expands into D&O and EPL


InsurTech and cyber MGA Coalition is to expand into D&O and employment practices liability (EPL) coverage for directors of small and medium-sized businesses.

The launch comes after the Zurich North America-backed business closed a $205mn Series E funding round in September, led by Durable Capital, T Rowe Price and Whale Rock Capital, with participation from its existing investors. The round helped drive up Coalition’s valuation to more than $3.5bn.

The MGA recently surpassed $325mn in run-rate premium and currently serves more than 130,000 customers.

Coalition operates a broker platform that integrates real-time financial, regulatory and transactional data in a quoting process that completes in five minutes.

It is now applying this approach to protect businesses from other risks that have been accelerated with the adoption of digital technology.

Head of executive risks Patrick Mitchell said: “We first transformed the cyber insurance marketplace with a data-driven approach, and we’re excited to bring this same technology and approach to executive risks.

“We are building a new kind of insurance with technology at its core. Our platform powers faster quotes for brokers and more accurate and in-depth risk assessments for clients.”

Zurich North America head of financial lines Brian Benjamin said: “Coalition’s technology-driven approach and quoting platform align well with Zurich’s innovation initiatives.

“We’re excited to establish this relationship and create an opportunity for the small commercial enterprise to seamlessly access the strength of Zurich North America, while helping to protect their businesses.”

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