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Cowbell, a supplier of cyber insurance coverage options, is broadening its attain throughout the UK to incorporate mid-market companies with annual turnovers of as much as £1bn ($1.27bn).
The corporate presently serves SMEs.
Cowbell stated this growth permits a wider vary of UK PLCs to entry its data-driven know-how and safety in opposition to cyber threats.
The US-based insurer’s platform, which options real-time underwriting, allows brokers to tailor cyber insurance policies to handle distinctive threat exposures.
These insurance policies cowl quite a lot of cyber incidents similar to e mail scams, ransomware and social engineering assaults.
Cowbell leverages an unlimited and monitored threat pool, which incorporates 35 million SMEs within the US and 4.5 million SMEs and mid-market companies within the UK.
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The corporate’s knowledge and instruments are shared with brokers, enhancing their skill to interact in knowledgeable discussions with shoppers about cyber threat eventualities.
Cowbell additionally gives a patented threat ranking resolution, often known as Cowbell Elements, which analyses threats to supply companies with insights to permit them to benchmark their IT threat in opposition to business friends.
Cowbell UK VP and basic supervisor Simon Hughes stated: “Our resolution to develop cybersecurity protection to corporations with an annual turnover of as much as £1bn stems from the demand for superior cybersecurity options now we have noticed within the mid-market section, the place the standard InsurTech choices usually fall brief.
“As cyberattacks improve year-after-year, each within the UK and globally, enterprise house owners are sometimes left guessing the way to higher defend their companies in opposition to these urgent threats. By leveraging our confirmed observe report, huge threat pool and progressive know-how we can safeguard not solely SMEs but additionally empower companies with larger complexities, bigger operations and serve a broader clientele.”
In September 2023, the cyber insurer launched its synthetic intelligence-powered cyber insurance coverage proposition, Cowbell Prime One.
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