MGA backed by Zurich, Swiss Re, Lloyd’s launches new tech-driven insurance for SMEs

Coalition, a cyber managing general agent (MGA) backed by Zurich, Swiss Re CS, Arch, and Lloyd's of London, has unveiled new executive risks insurance products for small and midsize businesses (SMEs).

Backed by the financial strength and stability of Zurich North America, Coalition will offer directors & officers (D&O) and employment practices liability (EPL).

Coalition’s broker platform integrates real-time financial, regulatory, and transactional data to enable brokers to bind D&O and EPL in 5 minutes. The insurtech plans to implement its data and technology used to model risk management in cyber coverage to protect businesses from executive risks that have been accelerated with the adoption of digital technology.

“We first transformed the cyber insurance marketplace with a data-driven approach, and we’re excited to bring this same technology and approach to executive risks,” said Patrick Mitchell (pictured), head of executive risks at Coalition. “We are building a new kind of insurance with technology at its core. Our platform powers faster quotes for brokers and more accurate and in-depth risk assessments for clients.” Mitchell brings 20 years of experience in underwriting management liability risks and will lead Coalition’s executive risks team.

Brian Benjamin, head of financial lines at Zurich North America, added: “ Coalition’s technology-driven approach and seamless quoting platform align well with Zurich’s innovation initiatives. We’re excited to establish this relationship and create an opportunity for the small commercial enterprise to seamlessly access the strength of Zurich North America, while helping to protect their businesses.”

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