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Coalition’s unshakeable mission: Why I joined

Blog: Coalition’s unshakeable mission: why I joined  (Stephen Wares)

I have been part of the evolution of cyber insurance for more than 20 years both in broking and underwriting roles. It has been an interesting ride and is no less challenging today than when I started my career. 

I joined Coalition as the Head of Risk Engineering for Europe just over a year ago, and want to share why I decided to continue my career with this fantastic company.

Going back to the beginning

In 2017, I met Joshua Motta and Shawn Ram, Coalition's CEO and Head of Insurance, respectively, as they were pitching their business plan for capacity in London. Coalition was one of many new startup MGAs that came across the desks of London underwriters at that time, but there was something very different about Coalition. Joshua spoke passionately about wanting to solve cyber risk and help the companies that were least protected: small and midsize businesses. 

What most excited me about Coalition was the organization's ability to combine preventative security tools with restorative insurance protection. The data gathered would be used to drive constant improvement in their clients' security posture and improve underwriting results. This was a lightning bolt moment. 

Due to the high cost of cybersecurity products, the cyber insurance industry had struggled for decades to do what seemed like the obvious: effectively combine these two elements. 

Hopping on board for global expansion

Coalition proposed to deliver a suite of services that would monitor the insured’s internet-connected devices and warn the client of vulnerabilities that were more likely to lead to cyber events. Coalition invested in developing its own attack surface monitoring (ASM) platform, which means that it has the ability to tailor it specifically to the needs of insurance clients and their broker advisors at no cost. This quickly solved a 20-year-old cyber insurance problem.

I stayed in contact with Coalition over the years. In 2020, my employer pulled out of cyber insurance. Shawn and Joshua reached out to me to see if I wanted to be part of the mission to help expand Coalition’s business to the UK and beyond. No other insurer came to mind that was investing in this class of business at the same pace as Coalition, and I can’t think of a better place to be right now than helping launch Coalition’s cyber insurance in the UK.

Bringing Active Cyber Insurance to the UK

By solving a decades-old problem and maintaining a relentless focus on all aspects of the risk journey—from prevention, remediation, and financial support—Coalition has created a new category of insurance called Active Insurance.

No more PDFs waiting in a desktop folder all year until renewal with zero interaction between the insurance carrier and policyholder. No more passively waiting for claims to inform coverage and pricing. No more overreliance on third-party vendors to be there for insureds when the worst happens. 

I feel incredibly fortunate to be part of our mission to solve cyber risk and bringing Coalition’s Active Cyber insurance to the UK market. I am part of a team with a single purpose: supporting each other to deliver a more secure IT environment for the businesses that we serve. With our UK launch just under our belt, this is a very exciting time for the business and I can’t wait to get stuck in.

If Coalition’s mission sounds motivating to you, too, then come join us. We’re hiring!