Mitsui Sumitomo Insurance (MSI) has joined forces with Coalition Insurance Solutions to expand their multi-year capacity agreement, aimed at launching cyber insurance in Australia starting January 1, 2025.
This new initiative builds upon the existing partnership focused on providing cybersecurity solutions for small and medium-sized enterprises (SMEs) in Japan.
Since its debut in Australia in November of last year, Coalition has successfully introduced its Active Insurance model to more than 1,400 policyholders, significantly bolstering the cyber resilience of Australian SMEs.
Clemens Philippi, CEO of MSIG Asia, a subsidiary of MSI, stated, “By leveraging Coalition’s innovative strategies along with our extensive expertise and strong presence in Asia, we aspire to establish a new benchmark for cyber insurance across the region. Our collaborative approach will not only enhance our product offerings but also empower businesses to effectively manage and mitigate digital risks.
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