Cyber insurance industry’s first cyber risk marketplace helps policyholders meet basic requirements to gain coverage
PLEASANTON, Calif. – Sept. 15, 2021 – Cowbell Cyber, the industry’s first AI-powered cyber insurance provider for small to medium enterprises (SMEs), today announced the launch of its cyber risk exchange marketplace, Cowbell Rx. Cowbell Rx closes insurability gaps by providing cyber insurance applicants with resources to meet eligibility requirements while also enabling active policyholders to continuously improve their organization’s risk profile. This comprehensive list of partners is the first of its kind in the cyber insurance industry.
Cyberattacks continue to proliferate and damage business operations, with predictions that new attacks will happen every 2 seconds by 2031. However, cybersecurity and cyber insurance have traditionally operated in silos with insufficient coordination, resulting in a misalignment between cyber threats faced by an organization and the security measures to prevent them. Because of this, cyber insurers are tightening up insurability requirements for policyholders to obtain coverage or to renew existing cyber policies.
Cowbell Rx is the first marketplace provided by a cyber insurer to help businesses gain access to recommended partners that offer solutions to organizations in order to meet the minimal criteria to get cyber insurance coverage.
“Cybersecurity and cyber insurance must work in harmony to build an organization’s cyber resilience. We are working with 20 of cybersecurity’s biggest leaders to make this happen,” said Isabelle Dumont, vice president of market engagement at Cowbell Cyber. “Cowbell Rx is a key component of Cowbell’s closed-loop risk management initiative to continuously improve an organization’s risk profile. Together with our partners, we are bringing streamlined access to today’s top cybersecurity services and solutions straight to current and future policyholders.”
Cowbell Rx offers preferred access to security services and vendors in the following categories:
- Deployment of Multi-Factor Authentication and robust identity management solution
- Endpoint protection
- 24×7 security monitoring for threat detection and prevention
- Backup and disaster recovery
- Compliance consulting and services
“Cowbell is an innovator in the field of cyber insurance and we share their passion for data-driven risk assessment,” said Eric Skinner, vice president of Market Strategy at Trend Micro. “We’re pleased to be part of Cowbell’s new marketplace. By bringing together Cowbell policyholders with cybersecurity experts like Trend Micro, we can all work together to ensure our mutual customers stay resilient in a world of constantly changing cyber threats.
“True cyber risk management is the combination of cyber insurance and effective cybersecurity operations,” said Odin Olson, vice president of Alliances at Arctic Wolf. “Cowbell Rx is an excellent way to expose Cowbell’s policyholders to some of the best cybersecurity service providers in the industry.”
Vendors interested can join Cowbell Rx by contacting Cowbell at [email protected].
Active Cowbell Cyber policyholders and businesses interested in cyber insurance can visit Cowbell Rx at https://cowbell.insure/Rx/.
About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted individualized, and easy-to-understand cyber insurance for small and mid-size enterprises. In its unique AI-based 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 50 U.S. states and the District of Columbia. For more information, please visit www.cowbell.insure.
Lumina Communications for Cowbell Cyber