Information on the target
At-Bay, Inc. is a prominent U.S.-based insurtech company specializing in cyber insurance and proactive cybersecurity solutions tailored for small and medium-sized enterprises (SMEs). With a focus on integrated cyber risk protection, At-Bay has established itself as a leader in the market, offering innovative solutions that combine insurance with advanced technology to mitigate cyber risks effectively. The company currently employs approximately 280 professionals across its offices in the U.S. and Israel.
Founded in 2017, At-Bay has rapidly ascended to become a top-10 U.S. cyber insurer, boasting gross written premiums totaling USD 278 million as of December 31, 2025. The company primarily serves SMEs, which often face escalating cyber threats but lack the resources and expertise to manage cybersecurity effectively. At-Bay's unified security platform continuously identifies, monitors, and reduces insured cyber risks throughout the policy lifecycle, providing valuable data insights that enhance underwriting practices and drive security innovation.
Industry overview in the target’s specific country
The casualty insurance industry in the United States has been undergoing significant transformation, particularly in response to the increasing prevalence of cyber threats. As businesses of all sizes become more reliant on digital technologies, the demand for comprehensive cyber insurance solutions has surged. This trend is particularly pronounced among SMEs, which are often targeted by cybercriminals due to their perceived vulnerabilities. The U.S. casualty insurance market is adapting to these changes by integrating cyber risk management into traditional insurance offerings.
In recent years, the U.S. casualty insurance sector has seen a notable shift towards more proactive risk management strategies. Insurers are increasingly recognizing the importance of combining insurance with cybersecurity measures to provide holistic protection to their clients. This evolution is driven by the need to address the growing complexity of cyber risks, which require continuous monitoring and mitigation rather than reactive responses to incidents.
Moreover, regulatory developments and heightened awareness of cyber threats have prompted businesses to prioritize cybersecurity investments. Insurers are responding by enhancing their underwriting processes and developing tailored products that cater to the unique needs of SMEs. The integration of technology into the casualty insurance landscape is facilitating more efficient risk assessment and management, ultimately benefiting both insurers and policyholders.
As the U.S. casualty insurance industry continues to evolve, companies that can effectively blend insurance with cybersecurity solutions are well-positioned to capture market share and drive growth. The increasing f…