Leading cyber security insurtech Coalition has launched its latest groundbreaking solution in the battle against cyber attacks for brokers.
The new solution, called CoalitionAI Broker Copilot, is a generative AI chatbot that is embedded into the Coalition broker dashboard. The tool is currently available to several, prominent US brokers and is trained on publicly-available documents and resources published by Coalition for broker inquiries and education.
According to reports, the generative chatbot can answer questions about cybersecurity best practices, cyber policy coverage options, and more.
Tackling cyber security with CoalitionAI Security Copilot
The new solution is open to Businesses using Coalition Control – Coalition’s cyber risk assessment and monitoring platform, and the tool enables brokers to seek and gain details on cyber security vulnerabilities, better understand coverage contingencies, and learn about ways to resolve cyber security issues using the new Security Copilot.
The CoalitionAI features uses a combination of proprietary technology, large language modeling, and generative pre-trained transformers. In a statement issued by Coalition, the insurtech said it had plans to introduce additional AI capabilities to support its Active Insurance offerings, including Active Risk Assessment, Active Protection, and Active Response. In the coming months, Coalition brokers and Coalition Control users will gain access to additional AI-driven tools that will strengthen the quoting, underwriting, and incident response experiences.
Speaking about the launch, Joshua Motta, Chief Executive Officer and co-founder at Coalition, said: “This new wave of generative AI will unequivocally change the insurance industry and transform the broker experience. Our Broker Copilot and Security Copilot are just the beginning. Over time the entire Active Insurance experience – from risk selection to active security protection to active response – will all benefit from generative AI that can help reduce the impact of cyber risk.”
Meanwhile, Tiago Henriques, Coalition’s Vice President of Security Research: “AI is already reshaping the cyber risk landscape. While we are applying our AI expertise to improve the broker and customer experience, we are also focused on keeping up with emerging AI-related vulnerabilities.”
He added: “Part of our commitment to protecting the unprotected is helping our policyholders both understand the risks and reap the benefits of new technologies.”
Who are Coalition?
Coalition is a San Francisco-based insurtech company founded in 2017, that provides cyber insurance and risk management solutions to businesses of all sizes, including small and medium-sized enterprises (SMEs).
The company uses its proprietary technology and machine learning algorithms to assess and mitigate cyber risks for its clients, helping them prevent and manage data breaches, network failures, and other cyber threats.
The insurtech provides customised insurance policies that cover a wide range of cyber risks, including social engineering, phishing attacks, ransomware, and more. The policies are underwritten by Swiss Re Corporate Solutions, a leading global insurer.
In addition to insurance coverage, Coalition offers clients access to a suite of risk management tools, such as vulnerability scanning, threat intelligence, and incident response planning, that help them identify and address potential cyber risks before they become major issues.
Since its launch, Coalition has raised over $800 million in funding from investors, including Ribbit Capital, Greenoaks Capital, and Vy Capital, among others. The company has also expanded its operations globally, with offices in New York, London, and Canada, and it serves clients in more than 50 countries worldwide.
