Coalition has launched a new tool called the Helios platform, designed to help cedants manage their cyber risk exposures in real time. This platform provides a self-service option for cedants, allowing them to access information that used to be available only in summary documents.
Shawn Ram, Coalition’s chief revenue officer, emphasized the importance of real-time data in managing cyber risk portfolios. He stated that the Helios platform sets a new standard for how data is collected and processed in the evolving cyber insurance market. With this tool, cedants can better understand their risks, including systemic vulnerabilities and potential catastrophe loads. It also helps them make informed decisions about risk management strategies.
The Helios platform uses Coalition’s advanced analytics and proprietary data collection methods to give cedants insights into their portfolio’s risk exposures and loss trends. This allows them to assess and manage risks that arise from commonly used technologies and vendors. Additionally, the platform enables users to create customized reports and view aggregated data, which can enhance their underwriting and risk management approaches.
Current users of Coalition Re can access the Helios platform at no extra cost. New cedants will have the opportunity to use the platform starting July 1, 2025.
Ram noted that the reinsurance industry needs to take a more active stance on risk mitigation. He believes that while having enough capital is vital, tools that provide real-time data can help insurers identify risks and trends before they lead to significant losses.