Best-in-Class Leaders in Cyber Insurance and Email Security Join Forces to Mitigate the Number One Risk Organizations Face Today – Email-based Cyber Attacks
SUNNYVALE, Calif., February 8, 2022 – Armorblox, the leader in securing enterprise communications over email and other cloud office applications with the power of Natural Language Understanding (NLU), and Coalition, the world's largest commercial insurtech provider, today announced a partnership offering an innovative end-to-end solution to customers that combines best-in-class email security and cyber insurance to protect organizations from cyber threats such as business email compromise (BEC), email account compromise (EAC), and phishing attacks.
Targeted email attacks threaten organizations, regardless of size. Ineffective email security solutions result in financial losses, data theft, brand reputation damage, and increased cyber insurance premiums. Using deep learning and natural language techniques, Armorblox can protect against a broad spectrum of financial fraud, data theft, and account compromise, which results in fewer cyber insurance claims and reduced premiums over time.
“Two things are a must to have a modern approach to mitigating the risk posed by cyber threats,” said DJ Sampath, CEO of Armorblox. “An email security platform that can protect against sophisticated email-based threats like BEC, EAC, phishing, and ransomware, combined with a modern cyber insurer that understands the risks posed by today’s attack landscape. We are excited to partner with Coalition and completely transform how today’s organizations think about cyber risk mitigation.”
“Coalition offers much more than basic cyber insurance—we provide policyholders best-in-class proactive cybersecurity tools to manage their digital risk and protect the value of their entire business,” said Payal Chakravarty, Head of Risk and Security Products at Coalition. “Cyber risk is becoming the defining risk of our age. BEC and funds transfer fraud (FTF) incidents accounted for 48% of all reported incidents in the first half of 2021. We are proud to partner with Armorblox to offer our customers the tools and peace of mind to protect them from cyber threats.”
Sophisticated email attacks use language and context as vehicles to make fraudulent money movement requests or to exfiltrate sensitive data. It becomes paramount that email security providers have technology in place to stop these advanced attacks and provide the necessary layers of protection for their customers. Unlike legacy secure email gateways, Armorblox uses NLU to analyze and identify targeted financial fraud, BEC, EAC, and phishing attacks. Armorblox technology protects the most vulnerable layer – the human workforce – and prevents accidental or malicious disclosure of an organization’s sensitive data, and protects against financial fraud attempts via email.
Coalition’s unique product 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. The new platform, Coalition Control, allows organizations to immediately visualize and mitigate their cyber risk while offering a robust partner ecosystem to help organizations protect themselves moving forward. Coalition's comprehensive cyber insurance offers a full breadth of support for before, during, and after a crisis.
To learn more about Armorblox, please visit www.armorblox.com and visit the company blog to learn more about its partnership with Coalition.
To learn more about Coalition, please visit www.coalitioninc.com.
About Armorblox
Armorblox secures enterprise communications over email and other cloud office applications with the power of Natural Language Understanding. The Armorblox platform connects over APIs and analyzes thousands of signals to understand the context of communications and protect people and data from compromise. Over 58,000 organizations use Armorblox to stop BEC and targeted phishing attacks, protect sensitive PII and PCI, and automate remediation of user-reported email threats. Armorblox was featured in the 2019 Forbes AI 50 list and was named a 2020 Gartner Cool Vendor in Cloud Office Security. Founded in 2017, Armorblox is headquartered in Sunnyvale, CA and backed by General Catalyst and Next47.
About Coalition
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 Zurich North America, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in the United States, CAD $20M of coverage in Canada, and up to USD $5 million of D&O and EPL coverage in the United States. 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.
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