Definition:Elpha Secure

🔐 Elpha Secure is a Delaware-incorporated cyber insurtech MGA founded in 2018 that combines proprietary endpoint security software with surplus lines cyber insurance for U.S. small and midsize businesses. The company operates across all 50 states through wholesale broker distribution, financially backed by AXIS Surplus Insurance Company and Everest Indemnity Insurance Company. Cumulative disclosed funding exceeds $29 million, including a $20 million Series A led by Canapi Ventures in October 2022 with participation from AXIS Capital, State Farm Ventures, The Hartford STAG Ventures, and others.

🛡️ Product architecture. Elpha bundles a seven-component security agent (EDR-like monitoring, MFA, SOC outreach, ES Mail email security, patching, dark web monitoring, and credential monitoring) with a cyber insurance policy starting at $1,000. Policyholders adopting the security solution receive enhanced coverage including a $500 extortion loss retention, a 6-hour business interruption waiting period, and a 365-day restoration period. Breach response follows a panel-led model with reimbursement gating through approved providers and prior written consent.

📈 Strategic momentum. AXIS, both an investor and capacity provider since 2021, expanded its partnership in July 2024 to route certain standalone SME cyber submissions for risks with revenue up to $100 million to Elpha's platform via wholesale brokers. Elpha broadened its underwriting appetite in February 2023 into transportation, entertainment, life sciences, and education sectors. The October 2025 SentinelOne partnership and February 2026 ES Mail launch signal continued expansion of security capabilities alongside insurance distribution scaling.

Related concepts:

• Definition:Cyber insurance
• Definition:Managing general agent (MGA)
• Definition:Surplus lines
• Definition:Embedded insurance
• Definition:Endpoint detection and response (EDR)
• Definition:Accumulation risk