Cowbell, a supplier of cyber insurance coverage options, is broadening its attain inside the UK to incorporate mid-market companies with annual turnovers of as much as £1bn ($1.27bn).
The corporate at present serves SMEs.
Cowbell mentioned this enlargement permits a wider vary of UK PLCs to entry its data-driven expertise and safety in opposition to cyber threats.
The US-based insurer’s platform, which options real-time underwriting, permits brokers to tailor cyber insurance policies to deal with distinctive threat exposures.
These insurance policies cowl quite a lot of cyber incidents comparable to e-mail scams, ransomware and social engineering assaults.
Cowbell leverages an enormous 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 have interaction in knowledgeable discussions with shoppers about cyber threat situations.
Cowbell additionally affords a patented threat ranking answer, referred to as Cowbell Components, which analyses threats to supply companies with insights to permit them to benchmark their IT threat in opposition to trade friends.
Cowbell UK VP and common supervisor Simon Hughes mentioned: “Our choice to increase 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 normal InsurTech choices usually fall quick.
“As cyberattacks improve year-after-year, each within the UK and globally, enterprise house owners are sometimes left guessing the best way to higher defend their companies in opposition to these urgent threats. By leveraging our confirmed monitor document, huge threat pool and modern expertise we can safeguard not solely SMEs but in addition empower companies with better 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.
