Company Aggressively Rolls-Out Standalone, Admitted Cyber Insurance Across U.S. and expands coverage to banking, financial services, insurance and hotels
PLEASANTON, Calif. – September 3rd, 2020 – Cowbell Cyber, the industry’s first AI-powered cyber insurance provider for small to mid-sized businesses (SMBs), today announced its cyber insurance program, Cowbell Prime, is now admitted in 18 states, including Texas as well as Ohio, Indiana and Michigan which were also opened in the past two weeks. The accelerated roll-out reflects Cowbell’s commitment to close the insurability gap for small businesses by simplifying and expediting the process of delivering cyber insurance.
Amassing 8.8 percent of U.S. GDP, Texas is a pivotal market for Cowbell’s cyber insurance program. Brokers and agencies licensed to distribute Property & Casualty insurance in Texas can now benefit from the competitive distribution approach offered by Cowbell and deliver customized policies tailored to each client’s needs in minutes. In addition, policyholders receive more than just a cyber policy; policyholders obtain immediate value with free, online access to their risk ratings, Cowbell Factors, and recommendations on how to remediate identified risks with Cowbell Insights.
“We are now able to serve 32 million small businesses across 18 states with a cyber policy that is based on unbiased, accurate risk assessment and customized to each business’ unique needs,” said Jack Kudale, Founder and CEO of Cowbell Cyber. “Cowbell also delivers the vital information needed to remediate identified risks.”
In addition, Cowbell announced that it has opened its Cowbell Prime program to additional businesses, including banking, financial services, insurance, and hotels. Appointed agents in the 18 states where the program is admitted can immediately quote these additional classes of business.
“Cowbell has removed delays and confusion in the rate, quote, bind process for cyber by bringing the entire process online,” said Shawn M. Sullivan, CEO of Truck Writers. “The pace at which we can now provide quotes and issue cyber policies to our clients is unique in the market.”
“Cowbell Cyber’s comprehensive coverage and superior user experience make it an easy choice for our agency and our insureds,” says Cameron Linder, CEO of WBPI. “Using Cowbell’s fast and easy online rater, we’ve added a Cowbell Cyber quote to every single renewal with fantastic success ratios.”
About Cowbell Cyber
Cowbell Cyber maps insurable threats and risk exposures using artificial intelligence to determine the probability of threats and impact on coverage types. In its unique approach to risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 33 U.S. states and provides SMBs with admitted cyber insurance on AM Best “A” rated paper with up to $5 Million in coverage. For more information, please visit www.cowbell.insure
Lumina Communications for Cowbell Cyber