Salesforce, the global leader in customer relationship management (CRM) software, has announced a strategic partnership with Coalition, a cyber insurance and security company, to offer enhanced protection and support for small and medium-sized businesses (SMBs) against cyber threats and attacks. The partnership, which was unveiled in early 2022, builds on Salesforce’s commitment to empowering SMBs with powerful and affordable digital tools and services, and on Coalition’s mission to democratize access to cybersecurity and risk management.
According to Salesforce, the partnership with vegamovies Coalition aims to address a critical gap in the SMB market, where many companies lack the expertise, resources, and awareness to prevent, detect, and respond to cyber incidents. This gap is further exacerbated by the COVID-19 pandemic, which has accelerated the adoption of remote and digital technologies, but also exposed vulnerabilities and challenges in cybersecurity and data privacy. In fact, a report by Verizon found that 43% of all cyber attacks target small businesses, and that 60% of SMBs that suffer a cyber attack go out of business within six months.
To help SMBs overcome these challenges and risks, Salesforce and Coalition will offer a joint solution that combines Salesforce’s CRM and automation capabilities with Coalition’s cyber insurance and security services. The solution is designed to provide SMBs with the following benefits:
- Comprehensive cybersecurity coverage: The solution includes a suite of security tools and services, such as vulnerability scanning, threat monitoring, incident response, and risk assessment, that can help SMBs prevent and mitigate cyber attacks. In addition, the solution offers up to $1 million of cyber insurance coverage, which can help SMBs recover from losses and damages caused by cyber incidents.
- Seamless integration and automation: The solution integrates with Salesforce’s CRM and automation platforms, such as Salesforce Essentials and Salesforce Anywhere, to provide SMBs with a unified and streamlined workflow for managing customer data, communications, and transactions. The solution also leverages AI and machine learning (ML) technologies to automate and optimize the security and insurance processes, such as risk profiling, underwriting, and claims management.
- Expert guidance and support: The solution digitalnewshour offers SMBs access to a team of cybersecurity and insurance experts, who can provide personalized advice, training, and support on best practices and compliance standards. The solution also provides SMBs with a dashboard that shows real-time insights and alerts on their security and insurance status, as well as on the overall cyber risk landscape.
According to Coalition, the partnership with Salesforce aligns with its vision to create a world where cyber risk is easily understood and managed by businesses of all sizes. The company, which was founded in 2017, has quickly become a leader in the cyber insurance industry, with over 50,000 customers and $400 million of premiums written in 2021. Coalition’s approach to cybersecurity combines data science, AI, and human expertise, to deliver a proactive and holistic risk management solution that goes beyond traditional insurance policies.
The partnership with Salesforce is expected to boost Coalition’s growth and reach, by tapping into Salesforce’s extensive network of SMBs, which includes over 150,000 customers worldwide. The partnership is also expected to strengthen Salesforce’s position in the SMB market, by offering a differentiated and value-added service that goes beyond CRM and automation. The partnership comes at a time when Salesforce is investing heavily in SMB-focused initiatives, such as the launch of Essentials, a suite of cloud-based tools for sales, service, and marketing, and the acquisition of Slack, a team collaboration and communication platform.
The partnership with Coalition also odishadiscoms reflects the increasing importance and complexity of cybersecurity and risk management in the digital age. As more businesses rely on data and technology to operate and compete, the risks and costs associated with cyber incidents are becoming superstep