Cyber insurance and security provider Coalition has announced that it has acquired Attune, a managing general agent and broker platform for commercial insurance. The acquisition creates the world’s largest commercial insurtech and positions the combined entity to capture a $100 billion-plus market opportunity in the property-casualty insurance market, Coalition said.
The acquisition will allow Coalition to expand the reach of its cyber insurance to more policyholders through the Attune marketplace. Coalition will also apply its advances in machine learning and analytics to an expanded set of Attune’s insurance offerings over time. The combined company is already delivering more than $500 million in run-rate gross written premium, Coalition said.
“We are thrilled to join forces with Attune to carry out our shared mission of providing security for all,” said Joshua Motta, co-founder and CEO of Coalition. “Together, our companies will define the future of insurance by applying data and technology expertise to mitigate current and emerging risk, expand our insurance offerings to keep more businesses safe, and build a better experience for insurance brokers and their clients.”
The addition of Coalition’s products to Attune’s broker platform and marketplace will allow brokers to access a wide variety of insurance products from a single interface. Coalition’s proactive risk management platform, Coalition Control, will also be made available to Attune policyholders.
“I am excited for our teams to work with one another to offer more digitally powered insurance products to more brokers and help organizations mitigate risk,” said James Hobson, CEO of Attune. “Our brokers will soon be able to offer businesses access to Coalition cyber insurance alongside the business owner policies, general liability and other leading Attune products in a comprehensive package.”
With the close of the transaction, the combined company now serves more than 130,000 customers, Coalition said. The combined Attune-appointed brokers will continue to have access to the Attune marketplace, which features lines including business owners’ policy, workers’ compensation, general liability, professional liability and excess liability, in addition to Coalition’s cyber insurance offering.
Attune will continue to operate as a standalone business with access to Coalition’s data and technology capabilities.
