Definition:At-Bay

🏢 At-Bay is a U.S.-based insurtech founded in 2016 that underwrites cyber, technology E&O, and MPL through its Delaware-domiciled E&S carrier, At-Bay Specialty Insurance Company, rated AM Best A- stable. The company transitioned from an MGA/fronted program structure backed by Trisura and Hartford Steam Boiler to issuing policies on its own E&S paper beginning August 2023, completing a full-stack carrier evolution. At-Bay has raised $292M in venture capital across six rounds at a $1.35B post-money valuation, with investors including Lightspeed Venture Partners, Khosla Ventures, Icon Ventures, Munich Re Ventures, and M12.

🔒 InsurSec platform. At-Bay differentiates through an integrated insurance-and-security model anchored by its Stance Exposure Management platform, which provides vulnerability scanning, dark web monitoring, AI-powered email fraud alerts, and vCISO advisory services embedded via an Embedded Security Fee for policyholders. MDR services are powered by CrowdStrike and sold separately through subsidiary At-Bay Security, LLC, and in July 2025 the company launched an MXDR platform with a strategic SentinelOne alliance.

📊 Scale and performance. At-Bay serves close to 40,000 U.S. businesses with revenue up to $5B, distributing through wholesale brokers and digital channels including its acquired Relay marketplace. Carrier-level statutory reporting shows $154.5M in gross premium and a 98% combined ratio in 2023, while company-disclosed annual recurring GWP reached $380M as of January 2023 with over 300 employees across hubs in Atlanta, Chicago, New York City, San Francisco, and Tel Aviv.

Related concepts:

• Definition:Cyber insurance
• Definition:Excess and surplus lines
• Definition:Managing general agent (MGA)
• Definition:Insurtech
• Definition:Fronting
• Definition:Managed detection and response (MDR)