Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced a new $30 million equity investment from Mitsui Sumitomo Insurance Co., Ltd. (MSI), a member of MS&AD Insurance Group (MS&AD), the largest non-life insurer in Japan and across the Asian-Pacific region. The investment anchors a strategic partnership aimed at bringing Active Insurance to more businesses worldwide and allows MSI to participate in more markets and as a shareholder.
“Coalition has true differentiation as a trusted partner to its policyholders, security customers, and the insurance ecosystem,” said Tomoyuki Motoyama, Chief Digitalization Officer at MS&AD. “Both of our companies value and prioritize innovation as the foundation of the cyber insurance market, and we are thrilled to continue deepening our relationship as a long-term Coalition equity holder.”
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“MS&AD is one the most respected and established insurers in the world, and we are thrilled to expand our partnership with them,” said Joshua Motta, cofounder and CEO at Coalition. “With their support, we are uniquely positioned to scale our Active Insurance model and solidify our position as the global leader in cyber insurance. Together, we will deliver our unparalleled approach to risk prevention and mitigation to businesses of all sizes and industries worldwide, ensuring they have the protection they need in an increasingly digital world.”
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The funding agreement builds on the companies’ existing strategic partnership, which includes a multi-year capacity agreement in Australia between Coalition and MSI and a collaboration on cybersecurity solutions for small and midsize businesses (SMBs) in Japan via its cyber risk management platform, Coalition Control
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Source: Businesswire
