Leading solution providers reduce business risk of cyber attacks by providing combination of best-in-class identity and access management (IAM) and cyber insurance
SAN FRANCISCO — May 13, 2021 — Coalition, the leading cyber insurance and security company, today announced a partnership with Okta, the leading independent identity provider, to offer a combined solution of best-in-class identity management and cyber insurance to protect organizations from cyberthreats. The partnership offers customers of both Coalition and Okta financial incentives to adopt identity and access management and cyber insurance to promote a more holistic risk management strategy.
Even with the best defenses in place, all organizations are at risk of cyber threats. In 2020, 60 percent of cyber insurance claims reported to Coalition were caused by human error and targeted businesses of all sizes. The majority of these claims could potentially have been prevented by using additional factors of authentication.
“Cyber crime is rapidly evolving, and organizations need to adopt a holistic risk management strategy to combat growing threats from malware, socially engineered attacks, and security breaches,” said Matt Dort, Head of Technology Alliances for Coalition. “Coalition serves a broad range of customers. We required a solution that could serve the basic needs of small businesses to the complex demands of large public companies. Okta meets these needs and more.”
“Today, layered protection against threats is critical – and not just when it comes to your technology stack,” said Maureen Little, Vice President of Technology Partners for Okta. “Our partnership with Coalition ensures total peace of mind by pairing our identity solutions with best-in-class cyber insurance.”
Okta provides identity management and control solutions to securely connect the right people to the right technologies at the right time. Okta’s cloud-based platform gives IT leaders the ability to centrally manage users so they may be quickly provisioned, securely authenticated, centrally managed and easily deprovisioned according to security policies and integration requirements.
Coalition’s unique product and partner offering combines best-in-class cyber insurance and proactive cybersecurity tools to help organizations manage cyber threats and protect the value of their entire business. Its cybersecurity tools and partner ecosystem help prevent incidents from happening in the first place, while its comprehensive cyber insurance covers the full breadth of cyber peril, including cyber crime, forensics, bodily injury and property damage, and more, to offer support before, during, and after a crisis.
To learn more about Coalition, visit https://www.coalitioninc.com/.
To read more about Okta, visit their blog or website at https://www.okta.com.
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Arch Insurance, Lloyd's of London, and Argo Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across 9 provinces and 3 territories in Canada. Coalition's cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition's team is global with employees based across the United States, Canada, the United Kingdom, Switzerland, and Portugal.