Bluevine and Coalition | October 18, 2022
Bluevine, the leading provider of holistic banking solutions designed for small businesses, today announced the expansion of its small business insurance offerings to include Active Cyber Insurance offered by Coalition, one of the world's leading cyber insurance providers, in addition to its existing small business insurance provider, NEXT Insurance. With the addition of Coalition's cyber insurance offerings, Bluevine is providing the small business community seamless access to explore insurance providers right from their account dashboard. Available now, Bluevine Business Checking customers can research a broad set of insurance products and complete the steps to receive a customized insurance quote from our partners.
Finding the right business insurance provider remains a confusing and significant pain point for small business owners looking for reliable coverage from a trusted source. Often, small business owners rely on recommendations from the small business community to determine their insurance needs, but this can leave them with ill-fitting policies that don't address the specific needs of their small business. As many as 75% of small businesses in the U.S. are underinsured, and 40% do not have any insurance, pointing to an acute need for insurance solutions designed with this community in mind.
"After the initial success of our small business insurance partnership with NEXT last year, we took a closer look at the gaps our customers might still have with their insurance policies and worked to close them, By partnering with Coalition and NEXT, Bluevine is serving the broader small business community by providing in-dashboard access to trusted insurance companies that support the small business community on their journey to grow and scale."
-Eyal Lifshitz, CEO and co-founder of Bluevine
Since the launch of Bluevine's insurance partner program, 28% of customers have clicked through to learn more, and thousands have continued on to receive quotes from Bluevine's licensed insurance partners. These partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform.
When we first started our business, we looked for insurance from multiple sources, but when we signed up with Bluevine and learned more about what their insurance partners offer, it made the process so much easier, They helped us learn what we need for our business and get a quote. I would recommend it to anyone who is looking for insurance. We are very happy with our policy,said Daphne Simmons, owner of Ovrtake Fitness.
Overall, these partnerships serve the small business owner's journey by providing the tools they need to grow and scale their business from one easy-to-access platform.
Active Cyber Insurance offered by Coalition provides a new integrated approach for companies to manage cyber risk. Coalition's offering provides small and midsize companies with cybersecurity tools, active monitoring, and anytime access to digital forensics and incident response services, combined with insurance coverage provided by well-known insurance carriers. By identifying and mitigating digital risk, policyholders that choose Coalition's offering experience 50% fewer cyber claims than the broader U.S. market, with 45% of incidents resolved at no cost.
In our experience, many cyber criminals are opportunistic, particularly when it comes to small organizations. No company is too small to be an enticing financial opportunity for attackers, Choosing to go with Coalition's Active Cyber Insurance offering can help a small business avoid a potentially catastrophic cyber incident – like a ransomware attack – where financial costs could cripple a business. We are delighted to bring Coalition's product offering to Bluevine customers with the aim of increasing access to cyber insurance for organizations of all sizes and continuing to prevent digital risk before it strikes,said Catherine Lyle, Coalition's Head of Claims.
By providing access to multiple insurance offerings for new and existing digital banking customers, Bluevine is providing entrepreneurs with curated partnership solutions that support their goals. Starting today, existing Bluevine Business Checking customers can log in to their account dashboard and determine the best insurance provider for the current stage of their business. This insurance dashboard expansion enables Bluevine to help solve the ongoing financial needs of small businesses by providing entrepreneurs with access to trusted and best-in-class insurance products quickly and seamlessly.
Bluevine provides small businesses with fast and simple access to holistic banking solutions built with them in mind. Bluevine's advanced online platform offers an intuitive, convenient solution designed to meet the financial needs of today's business owners with a suite of products including Bluevine Business Checking, Bill Pay, and Line of Credit. Since launching in 2013, Bluevine has served more than 450,000 small businesses and is backed by leading private and institutional investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, Citi Ventures, ION Crossover Partners, SVB Capital, Nationwide Insurance, and M12 (Microsoft's Venture Arm). Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank, Member FDIC. Banking Services provided by Coastal Community Bank, Member FDIC.
Coalition is the leading provider of Active Insurance, combining comprehensive insurance coverage and cybersecurity tools to help businesses manage and mitigate digital risks. Through its partnerships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, and Vantage, Coalition offers its Active Insurance products in the U.S., U.K., and Canada, and its security products to organizations worldwide. Coalition's Active Risk 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 is a distributed company with a global workforce that collaborates both digitally and in office hubs.
CoverEase and Beam Benefits | October 07, 2022
CoverEase, a digital insurance broker, announced today a partnership with the digitally-native employee benefits provider, Beam Benefits, via the addition of Beam's dental and vision products to their digital platform. CoverEase is the first company in the United States to offer businesses the ability to get instant online dental and vision quotes for their employees.
The new integration adds Beam's dental and vision options to the company's marketplace which quotes workers' compensation, business liability and property, cyber liability insurance, group health insurance and term life insurance for up to $2 million in coverage.
CoverEase CEO Shawn Edgington shared her excitement for the future of CoverEase with the incorporation of Beam, As our platform evolves and expands with additions like Beam Benefits, we're able to accelerate innovation, reduce costs, and save business owners time and money.
"Beam is thrilled to partner with CoverEase, a proven leader in the employee benefits ecosystem, Through our integration, businesses using CoverEase can access dynamic & transparent dental and vision benefit pricing. We are excited about the technology enabling this partnership, and look forward to working further with CoverEase and their customers."
-Alex Frommeyer, Co-founder and CEO of Beam Benefits
CoverEase uses decades of best practices research, plus today's most advanced InsurTech to un-complicate the complicated. This approach results in a lightning fast, easy and awesome way to shop, compare, and buy business insurance and employee benefits.
CoverEase, a digital insurance broker, has reinvented the way businesses shop, purchase, and save on the insurance products that businesses need most. CoverEase utilizes an online "Amazon-like" shopping experience with unmatched quotes from the best insurance brands in the country. CoverEase, headquartered in Livermore, California, with offices in New York, is WBENC certified and led by CEO Shawn Marie Edgington.
About Beam Benefits:
Beam Benefits is a digitally-native employee benefits company that offers dental, vision, life, disability, and supplemental health coverage for employers of all sizes. The company simplifies and modernizes the $100+ billion ancillary benefits industry through its intuitive online platform, self-service tools, AI-powered underwriting, and thoughtful coverage for improved overall wellness. Its Beam Perks™ program* offers incentives to members and rewards them for healthy behaviors. Beam has raised over $160 million in funding and is available in 44 states across the U.S.
MetricStream | November 01, 2022
MetricStream, the global market leader in integrated risk management (IRM) and governance, risk, and compliance (GRC), and C-Risk, a leading international authority in cyber risk quantification (CRQ), today announced a partnership to jointly offer MetricStream’s CyberGRC and C-Risk’s CRQ enablement and training services to customers. The combination of MetricStream’s CyberGRC that includes advanced CRQ and Simulation, and C-Risk’s enablement services will enable faster time to value and help operationalise CRQ initiatives for organisations.
Cyber risk management has become a critical business issue for companies of all sizes and industries. However, decisions concerning insurance, controls to be implemented, investments in IT and security projects, tools, and resources are often made without understanding the plethora of risks that exists in each scenario and how a proposed solution can reduce those risks in monetary terms. CRQ, in particular the Factor Analysis of Information Risk™ (FAIR™) standard, allows modelling of risk scenarios and quantification of the financial impact using statistical and probabilistic techniques.
"Cyber risk quantification is a decision support tool that helps organisations present risk in financial terms to general management, justify and prioritise cyber security budgets as well as optimise a company's cyber insurance. It is the obvious next step in the GRC program of any organisation wanting to improve its cyber security governance,”
- Christophe Forêt, President of C-Risk
CISO’s and cyber leaders across industries are looking to prioritise and address their cyber risks, as well as drive maximum ROI from their cyber investments, We are excited to partner with C-Risk to accelerate the value of MetricStream’s CRQ capabilities with targeted FAIR™ training and enablement,said Raghuram Srinivas, Senior Vice President, Product Management, MetricStream.
MetricStream is the global SaaS (Software as a Service) leader of Integrated Risk Management and GRC solutions that empower organizations to thrive on risk by accelerating growth via risk-aware decisions. We connect governance, risk management and compliance across the extended enterprise. Our ConnectedGRC and three product lines – BusinessGRC, CyberGRC, and ESGRC – are based on a single, scalable platform that supports you wherever you are on your GRC journey.
MetricStream is headquartered in San Jose, California, with an operations and R&D center in Bangalore, India, and sales and operations support around the globe.
C-Risk provides solutions to quantify information security and technology risk in financial terms. We help organisations understand information risk in business terms, decide how to prioritize investments to improve cyber resilience and information security compliance.
Recognized internationally for its expertise in cyber risk quantification (CRQ), C-Risk offers training on the FAIR™️ methodology, CRQ as a Service as well as Cyber Risk Quantification Enablement Services to help organization build their internal risk quantification capabilities and improve their overall information security governance.