In the realm of providing advanced cybersecurity to end customers, Managed Service Providers (MSPs) typically resort to either vendor-provided Managed Detection and Response (MDR) solutions or collaborate with Managed Security Service Providers (MSSPs). However, within the last year, a novel entrant has surfaced in the MDR market.
Cybersecurity insurance companies are introducing their own suites of cybersecurity services tailored to customers, encompassing enterprises and managed service providers. For example, cybersecurity insurance titan Coalition offers a platform dubbed Coalition Control. Essentially, it serves as a vulnerability scanning and management platform, featuring a multi-tenant version tailored for MSPs.
The platform offers a basic scan under a freemium license, enabling MSPs to conduct assessments of their customers’ IT infrastructure for vulnerabilities. Additionally, a more comprehensive scan is accessible to Coalition policyholders or businesses procuring the solution.
Approximately a year ago, Coalition expanded its offerings by introducing managed detection and response (MDR) services targeted at both end customers and MSPs.
Notably, Coalition is not alone in this endeavor. Beazley Security, the cybersecurity services arm of Beazley insurance company, has also unveiled a managed Extended Detection and Response (XDR) service.
ChannelE2E recently engaged in a conversation with John Roberts, the general manager of security at Coalition, to delve into the motives and mechanisms behind an insurance company’s foray into cybersecurity services.
Roberts, a founding member of the company since its inception in 2017, brings prior experience from Cloudflare, where he collaborated with co-founder Josh Motta. Coalition was established with a mission to furnish comprehensive protection against cyber threats by amalgamating insurance coverage with security tools and services. The pivot towards cybersecurity services stems from the company’s roots in cybersecurity.
According to Roberts, Coalition currently collaborates with 60 MSPs, including prominent entities like Harbor Networks and North Star Technology.
“We are offering services that aid MSPs in evolving into MSSPs,” he articulated.
Roberts expounded on the rationale behind Coalition’s provision of cybersecurity services. With an insurance portfolio spanning 80,000 organizations across four countries, a substantial proportion comprises small businesses heavily reliant on MSPs for their IT requisites. This reliance impelled Coalition to develop tools that empower MSPs to augment their service offerings and fortify their clients’ security posture.
Against this backdrop, Coalition introduced an MDR service in Q2 2023. Roberts elucidated that the service is a natural progression from the company’s incident response services.
“Our customers were like, ‘You assisted us during our direst hour. We trust you. Can you please remain involved?’” Roberts underscored.
Source: channele2e.com
