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Empower Your Clients (and Yourself) With More Visibility Into Cyber Risks

Empower Your Clients (and Yourself) With More Visibility Into Cyber Risks

Have you memorized every detail about all of your clients and their open quotes?

Of course not. The reality is that, to grow and maintain a healthy book of business, brokers must often juggle dozens of accounts across different lines of insurance and multiple quoting platforms — and that’s where we can help.

Coalition gives you and your clients greater visibility into their cyber exposures before they bind a policy. As soon as you start quoting cyber on the Broker Platform, you’ll be able to empower your clients with cyber knowledge, track progress in real-time as they address contingencies, and expedite the quote-to-bind process to maximize your own efficiency.

Let’s look at how increased visibility across our quoting and risk management platforms can transform the insurance-buying experience and empower you as a cyber risk advisor. 

Provide clients with pre-bind access to Control

Every policyholder receives full access to our cyber risk management platform, Coalition Control™, to help detect, assess, and mitigate cyber threats before they turn into attacks. As a broker, you can also invite clients to Control — even before they bind a policy.

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Brokers can invite clients to Coalition Control™ directly from the Broker Platform.

With pre-bind access to Control, your clients can get a customized, real-time view into their cyber exposures. Experiencing the benefits of our state-of-the-art platform and proprietary data insights can make it easier to sell Coalition, over other cyber insurance providers, and demonstrate the value Coalition provides above and beyond the insurance policy. 

Once you’ve quoted the account, you can invite your clients to join Control, where they can gain greater insight into how their risks may influence pricing and underwriting decisions. Additionally, Control is a convenient way for your clients to directly contact us for cybersecurity support, improving their experience while minimizing complexity and extra tasks for you.

Enable contingency resolution directly in Control

Contingency resolution is not only an essential part of the insurance-buying experience, but also a vital action for businesses looking to improve their insurability.

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Current and prospective policyholders can brush up on the security issues impacting their businesses directly in Coalition Control™.

Once your client is granted pre-bind access to Control, they can use the platform to further explore and resolve Critical Security Findings and other exposures detected by Coalition. Inside Control, your clients have access to technical details and remediation guidance for relevant contingencies, as well as the ability to add more users (like IT contacts) within their organization.

Contingencies often cause confusion for first-time cyber insurance buyers, which is why we’ve built support mechanisms and additional context directly in the platform. Encouraging your clients to proactively engage with Critical Security Findings can help expedite their time to binding a policy with Coalition and improve their overall cybersecurity posture.

Monitor client contingencies from the Broker Platform

If you’re wondering how to keep track of open quotes and contingencies across multiple accounts, look no further.

After clicking into a specific account, you’ll see a list of contingencies that your client must resolve prior to binding a quote. For each contingency, we provide a description of the security issue, along with recommendations on how to resolve it.

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Brokers can see all of the related security issues associated with every quote, including the number of resolved and unresolved issues, from within the Broker Platform.

With increased visibility into the resolution status of each contingency, you can conveniently see the type of issue and whether it requires action from you or your client. You can also download the remediation instructions to share with your clients — though they’re also available to them directly in Control.

Help your clients improve their cybersecurity posture

Contingencies can be a double-edged sword. Yes, they add friction to the process of buying insurance, but they also help businesses improve their overall cybersecurity posture and reduce the likelihood of claims.

In fact, Coalition policyholders with one unresolved critical vulnerability were 33% more likely to experience a claim than those who resolved the vulnerability. This is why Coalition helps you and your clients prioritize the exposures that matter most.

We’re committed to creating a seamless insurance-buying experience for you and your clients, which includes optimizing the quoting experience and helping you save time with self-service capabilities. Coalition believes a streamlined approach to quoting and binding cyber insurance is the best way to empower brokers and policyholders.

Log in to the Broker Platform to start quoting cyber today or sign up to get appointed as a Coalition broker.

Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc. (“CIS”), a licensed insurance producer and surplus lines broker, (Cal. license # 0L76155) acting on behalf of a number of unaffiliated insurance companies, and on an admitted basis through certain carriers. See licenses and disclaimers.
This blog post is designed to provide general information on the topic presented and is not intended to construe or the rendering of legal or other professional services of any kind. If legal or other professional advice is required, the services of a professional should be sought. The views and opinions expressed as part of this blog post do not necessarily state or reflect those of Coalition. Neither Coalition nor any of its employees make any warranty of any kind, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product or process disclosed. The blog post may include links to other third-party websites. These links are provided as a convenience only. Coalition does not endorse, have control over nor assumes responsibility or liability for the content, privacy policy or practices of any such third-party websites.  Copyright © 2024. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc