Under the Hood of Underwriting

by | Nov 21, 2022 | Podcast

It’s the one-year anniversary season of The Cowbell Factors! Season 5 has kicked off with our first episode featuring Cowbell’s Head of Underwriting, Caroline Thompson. Here are our top takeaways from this episode.

  1. At Cowbell, we underwrite cyber risk with precision and speed. This is unique in the industry. The data we use in underwriting decisions can be accessed from a centralized location, and the underwriting process is semi-automated/AI-assisted, yet retains the human touch.
  2. In 2022, supply chain risk was talked about a lot. As a result, more accounts assessed had better controls in place, such as MFA. 2022 became a hardened market and is expected to soften in 2023. This may result in coverage innovation and even new coverages. This begs a really interesting question: will brokers experience relief from a softer market?  
  3. Brokers, agents, and policyholders are hungry for education and cybersecurity awareness training. Stay tuned for the launch of Cowbell Academy, coming soon!
  4. Adaptive cyber insurance and underwriting overlap when it comes to Cowbell’s continuous underwriting process. Risks are continuously assessed throughout the policy period. More announcements to come on our new adaptive policy in 2023!
  5. Underwriting is a part of Cowbell’s closed-loop approach to risk management (ASSESS, INSURE, IMPROVE, RESPOND) of accounts, specifically during the risk assessment stage. Cowbell Factors supplement and enhance this process.
  6. Underwriters at Cowbell are FUN! They merge sales and analytical mindsets when going beneath the surface of organizations to assess their risk. 

For more, be sure to listen to Caroline’s full podcast episode. Visit the Cowbell Factor Podcast library to listen to last season’s episodes and subscribe to stay up to date on upcoming ones. It is available on most podcast platforms (iHeartRadio, Spotify, Google podcast, Apple podcast, Anchor, and Radio Public). If you enjoyed this episode, consider rating it with 5 stars on Spotify and Apple!

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