Cowbell Recognized for its AI Advancements

Feb 3, 2022 | Innovation

Cowbell is built on a foundation of artificial intelligence (AI) and cutting-edge technology. Today that foundation and innovation of AI have earned Cowbell Cyber its latest recognition. We’re honored to be among the winners of the latest Corporate Vision Magazine Artificial Intelligence Awards. The awards focus on AI innovators across all sectors who go above and beyond to provide outstanding services.

Our standalone cyber insurance program, Cowbell Prime™, is powered by AI to expedite the quoting and binding process and deliver tailored policies that match the unique risk exposure of each policyholder. This enables agents to issue customized policies in minutes without paperwork or long questionnaires. Cowbell Factors™, our proprietary risk rating factors, quantify cyber risk on a continuous basis using 750 outside-in and inside-out risk signals to provide an immediate benchmark of an organization’s cyber risk profile against Cowbell’s growing risk pool of more than 21 million U.S. accounts (two-thirds of the 32 million small and mid-size businesses).

We’ll continue to innovate to help policyholders mitigate their cyber risk. We recently added a Cowbell Factor to measure an organization’s exposure to the Software Supply Chain, an emerging risk that has already proven to be a significant problem. As we augment our data science efforts with new data sources and partnerships, we are expanding our use of machine learning and AI to not only increase the efficacy of our risk rating but also to provide a more precise assessment of risk in near real-time. 

We are on the verge of new trends of cyber insurance where providers collaborate with both policyholders as well as their cybersecurity resources. We recently made public the availability of our Cowbell Connectors to AWS and Microsoft and the benefits to policyholders in improving their cyber risk profile. Data discovered through partnerships like those are highlighted by insurers during our continuous risk assessment process allowing both policyholders and security resources to react. The end result is businesses with better cyber hygiene and being more secure.

 

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