2020 was on my mind even before Y2K as I came across a book titled India 2020: A Vision for the New Millennium written by Dr. Abdul Kalam, an aerospace scientist who went on to become India’s President. It wasn’t about the unforeseen global pandemic or company building, it was about a nation striving to become a developed country by 2020. Although the global pandemic has changed our lives fundamentally, I write this blog to reflect on Cowbell’s journey so it can be filed as another page in the history books of company building during the 2020 global pandemic.

Despite healthcare lockdowns, climate change events, a slowing US economy and civic unrest:

Our team grew from 22 to 37 Cowbellers during the year enhancing and scaling our expertise across cybersecurity, insurance and data science.

We launched two standalone and admitted cyber programs:
- Cowbell Prime 100: a simple and relevant program with up to $5M in limits for businesses up to $100M in revenue
- Cowbell Prime 250: the industry’s most robust and customizable program with limits up to $15M for businesses up to $250M in revenue.

Since launching in February 2020, we have rolled-out our admitted standalone cyber insurance programs to 35 states. We are also providing excess protection to businesses in 49 states and DC.  

We take pride in our distribution channel that has grown to a strong network of 3,000 agents and brokers nationwide who have made Cowbell their top choice for cyber policies.

Agents and brokers have responded very well to our ability to issue standalone, customized policies in minutes as proven by an average of 5,000 monthly users on our platform.

Within 12 months of our market entry, we earned a seat at the table as a formidable player achieving double-digit millions in annualized premium run-rate.

While many traditional insurers increased premiums, reduced limits and excluded classes we earned the trust of hundreds of businesses on the strength of our multi-variant risk rating factors coupled with the reputation of our prominent reinsurers.

As cyber incidents evolve in frequency and severity, we are continuously assessing a growing pool of 7.5 million businesses across hundreds of risk attributes for risk improvement. Our AI-based underwriting bot MOO is reviewing referrals and exceptions for those risks that need special attention. 

These outstanding results were only made possible thanks to our continuous underwriting platform, the industry’s first vertically integrated solution for the distribution and underwriting of cyber policies. Our agent partners are raving about the superior user experience, the speed of the rate, quote, bind process and the transparency and accuracy in risk selection and pricing.

Our aim is to double the company’s human capital and quadruple our premium run-rate during 2021. We continue our journey with innovations in the work to support businesses up to $1Billion in revenue with our upcoming Prime 1000 program.

I welcome any feedback on the above. You can contact our team at [email protected]