Mitsui Sumitomo Insurance invests in cyber InsurTech Coalition
Mitsui Sumitomo Insurance, a subsidiary of MS&AD Insurance Group Holdings, has invested an undisclosed amount in Coalition, a U.S.-based cyber InsurTech company and a leading provider of cyber insurance with advanced cyber risk assessment technologies. MSI and Coalition have collaborated since 2022 and developed a service, the "MS&AD Cyber Risk Finder", a service for automatically detecting cybersecurity vulnerabilities. Through this investment, MSI aims to strengthen its strategic partnership with Coalition and expand its global cyber insurance business with preventive measures and optimal protections.
MSI has been collaborating with Coalition to drive innovation in the cyber insurance market in Japan. As cyber threats have become increasingly sophisticated and diverse, there is a pressing need for businesses to implement comprehensive measures that deliver prevention, compensation, and damage mitigation. Recognizing these circumstances, MSI has decided to invest in Coalition to accelerate market expansion globally and to provide preventive measures and compensation against cyber risks to a broader customer base.
Coalition employs proprietary scanning technology to gather extensive security information from Internet-connected devices. This big data is analyzed to develop insurance products and security solutions.
By identifying and visualizing the latest vulnerabilities in businesses based on security data analysis, Coalition offers a solution called “Active Insurance,” which combines comprehensive insurance coverage and cybersecurity tools to help businesses manage and mitigate potential cyber attacks. This solution, which is highly rated in the U.S. market, encompasses risk assessment, incident prevention, and incident response and mitigation.
Through this partnership with Coalition, MSI will further focus on global expansion in the cybersecurity field, develop more advanced products and services, and offer them to a larger number of customers to support sustainable growth for businesses. Additionally, by appropriately managing cyber risks within MSI, the company aims to achieve sound business operations.
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