Partnership Enables Organizations to Apply for Cyber Insurance and Assess Security Health for Insurability
OXFORD, U.K. — Oct. 17, 2023 — Sophos, a global leader in innovating and delivering cybersecurity as a service, today announced its first U.K. cyber insurance partnership with Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs). An extension of the partnership established in March in the U.S., Sophos and Cowbell bring the power of adaptive cyber insurance that recognizes and rewards strong defenses to Sophos Managed Detection and Response (MDR) and endpoint customers in the U.K.
Sophos U.K. customers can share their endpoint health information with Cowbell, to take advantage of pricing and policy offers that reward robust security. Through Cowbell, participating Sophos customers will receive tailored coverage options, in-depth risk assessments, and ongoing risk alerts backed by AI monitoring and human support.
“We are delighted that Cowbell recognizes the value of our security solutions, including Sophos MDR, which mitigates the risk of major cyber incidents,” said Darren Barker, regional vice president of sales Northern Europe at Sophos. “The partnership rewards organizations with rigorous cybersecurity postures through optimized insurance pricing and real-time feedback on how to improve their defenses. This ultimately ensures our customers not only have defensive cybersecurity in place, but also have peace of mind that they can get back up and running quickly in the wake of a cyberattack.”
Sophos research indicates that 84% of businesses in the U.K. have some form of cyber insurance, however 58% said the quality of their cyber defenses impacted their ability to get cyber insurance coverage, and 63% said it impacted the cost of their policy. Crucially, organizations with cyber insurance are better able to recover data after a ransomware attack, thanks to assistance from their insurer in the recovery process as well as the strength of the cyber defenses needed to qualify for insurance, which put them in a better position to recover data.
“Cowbell is committed to making it easier for SMEs to obtain and understand cyber insurance as part of our overall cybersecurity strategy, particularly with the fast-paced evolution of cyber-attacks. Our expanded partnership with Sophos supports this commitment, and together we are providing easy, direct access to our cyber insurance, opportunities for dynamic risk assessment, solutions for improving risk profiles, and optimized premiums,” said Simon Hughes, VP & General Manager for the UK at Cowbell, “Our partnership with Sophos will expand access to cyber insurance to SMEs, an underinsured and underserved business audience, plus provide flexible options based on the size of the company and the coverage needed.”
Sophos is a worldwide leader and innovator of advanced cybersecurity solutions, including Managed Detection and Response (MDR) and incident response services and a broad portfolio of endpoint, network, email, and cloud security technologies that help organizations defeat cyberattacks. As one of the largest pure-play cybersecurity providers, Sophos defends more than 500,000 organizations and more than 100 million users globally from active adversaries, ransomware, phishing, malware, and more. Sophos’ services and products connect through its cloud-based Sophos Central management console and are powered by Sophos X-Ops, the company’s cross-domain threat intelligence unit. Sophos X-Ops intelligence optimizes the entire Sophos Adaptive Cybersecurity Ecosystem, which includes a centralized data lake that leverages a rich set of open APIs available to customers, partners, developers, and other cybersecurity and information technology vendors. Sophos provides cybersecurity-as-a-service to organizations needing fully managed, turnkey security solutions. Customers can also manage their cybersecurity directly with Sophos’ security operations platform or use a hybrid approach by supplementing their in-house teams with Sophos’ services, including threat hunting and remediation. Sophos sells through reseller partners and managed service providers (MSPs) worldwide. Sophos is headquartered in Oxford, U.K. More information is available at www.sophos.com.
About Cowbell (UK)
Cowbell is a pioneer of Adaptive Cyber Insurance, a leader in providing small and medium-sized enterprises (SMEs) coverage adaptable to today’s and tomorrow’s threats and the advanced warning of cyber risk exposures. In its unique AI-based approach in risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue in less than 5 minutes. Cowbell is backed by 20 prominent leading global (re)insurance partners and serves SMEs in 50 U.S. states, the District of Columbia and the United Kingdom. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, India, and the U.K. For more information, please visit https://cowbell.insure/.