Leading cyber insurance provider ranked #6 in the Security category
San Francisco, California (March 8, 2022) — Coalition, the world’s first Active Insurance Company, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022, securing the spot of No. 6 in the Security category.
This year’s list honors businesses that are making the biggest impact on their industries and culture as a whole—ultimately thriving in today’s ever-changing world. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. In addition to the World's 50 Most Innovative Companies, 528 organizations are recognized across 52 categories.
“We are honored to be selected for this list, at a time that is transformational not only for Coalition but also the security industry at large,” said Coalition CEO and co-founder Joshua Motta. “We’re seeing ransomware and digital risk impact organizations of all sizes, and it’s clear that the traditional approach to cybersecurity can’t solve the problem alone. Coalition combines cybersecurity and insurance to not only provide protection, but also align the incentives to make sure security fixes get implemented to keep organizations safe.”
Today Coalition offers Active Cyber and Active Executive Risk policies that go far beyond traditional insurance by providing technology and expert support before, during and after an incident occurs—a critical step for helping policyholders and potential customers address security vulnerabilities proactively. Coalition also offers free cyber risk assessments and monitoring to any organization around the globe via Coalition Control. Control identifies vulnerabilities, provides risk scores, and offers tailored recommendations to improve security for organizations of all sizes.
Over the past eighteen months, Coalition hit several major milestones on its way to solidifying its position as one of the world’s largest commercial insurtechs. Year-over-year revenue grew by more than 400% in 2021 as the company scaled to serve 160,000+ customers in the US and Canada.
Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“The world’s most innovative companies play an essential role in addressing the most pressing issues facing society, whether they’re fighting climate change by spurring decarbonization efforts, ameliorating the strain on supply chains, or helping us reconnect with one another over shared passions,” said Fast Company Deputy Editor David Lidsky.
For the second year in a row, to coincide with the issue launch, Fast Company will host its Most Innovative Companies Summit on April 26–27. The virtual, multiday summit celebrates the Most Innovative Companies in business, and provides an early look at major business trends and an inside look at what it takes to innovate in 2022. Fast Company’s Most Innovative Companies issue (March/April 2022) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 15. The hashtag is #FCMostInnovative.
Founded in 2017, Coalition is the world’s first Active Insurance company designed to prevent digital risk before it strikes. Coalition is on a mission to provide security for all and create a safe digital economy where everyone can thrive by providing cyber, executive risks, and P&C insurance policies paired with active risk assessment and monitoring technology to help small and medium-sized organizations protect themselves in a digital world. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance, Lloyd’s of London, and Zurich North America, Coalition provides companies in the U.S. and Canada with up to USD $15 million of cyber and technology insurance coverage and up to $5 million of executive risks coverage. As of September 2021, Coalition has raised $520 million from Index Ventures, Ribbit Capital, Valor Ventures, Durable Capital, T. Rowe Price Associates, and Whale Rock Capital.
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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* Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc., a licensed insurance producer and surplus lines broker. Insurance products may not be available in all states, For further details see here. ** Insurance products may be underwritten by Ascot Specialty Insurance Company, Ascot Insurance Company, or an affiliated company, which are members of Ascot Group. *** Insurance products may be underwritten by North American Capacity Insurance Company, Swiss Re Corporate Solutions America Insurance Corporation, or an affiliated company, which are members of Swiss Re Corporate Solutions. Fortegra® is the marketing name for the service contract and insurance operations of the subsidiaries of The Fortegra Group, Inc.