Cowbell Cyber Continuous Underwriting Platform incorporates Advisen’s Cyber Loss Data
PLEASANTON, Calif. – February 10, 2020 – Cowbell Cyber, a startup focused on Artificial Intelligence (AI)-powered cyber insurance for small to mid-sized enterprises, today announced a partnership with Advisen to incorporate the industry’s largest collection of publicly referenceable Cyber Loss events into Cowbell Cyber’s continuous underwriting insurance platform. Cowbell’s proprietary machine learning algorithms incorporate Advisen loss data to compile Cowbell Factors™ and help address current cyber coverage gaps.
“As damages inflicted by cyberattacks increase, coverage must be aligned precisely to a company’s cyber risk to effectively mitigate losses and stem the after-effects of an incident,” said Jack Kudale, founder and CEO, Cowbell Cyber. “Cowbell Cyber’s unique approach to risk selection and pricing is enhanced by the addition of Advisen’s loss events dataset, and the result yields a more effective early warning system and accurate underwriting.”
“Applying machine-learning to our vast collection of loss event data enables companies like Cowbell Cyber to compensate for the lack of observability into the real cyber risk profile of companies,” added Jim Blinn, Executive Vice President for Client Solutions, Advisen. “Advisen is proud to work with companies like Cowbell Cyber who are exploring the boundaries of the cyber risk frontier to apply and learn from our giant treasure trove of loss events.”
Cowbell Cyber uses an inside-out approach to offer ongoing, dynamic cyber risk assessments, providing customers with real-time insights into insurable risks. The flagship offering’s risk-ratings factors, Cowbell Factors, enable standalone and customized cyber coverage that match policyholders’ needs as they evolve. Coverage is specifically designed for cyber risk exposure — not entwined with other lines of coverage.
Cowbell Cyber launched its cyber insurance policy, Cowbell Prime™ in January 2020 and is actively appointing agencies in six U.S. states. Jack Kudale, Founder and CEO of Cowbell Cyber will participate in a panel on “Cyber Insurtech and the Rise of Cyber MGAs” during Advisen’s Cyber Risk Insights Conference in San Francisco on February 12th where Cowbell Cyber is also a sponsor.