COLUMBUS, OHIO, August 24, 2021 – Insurance technology leader Bold Penguin announced today a new partnership with Cowbell Cyber, an innovative cyber insurer that uses artificial intelligence (AI) and machine learning to deliver the ideal policies to businesses based on their real-time needs. Bold Penguin will add Cowbell’s Prime 100, Prime 250, and Prime Plus programs to the Bold Penguin Terminal, marking the first standalone cyber option available to independent agencies using the Bold Penguin platform.
Cyber incidents are among the top three threats faced by businesses around the globe[1]. As the risk of cyber attacks has grown, so too have premiums, making access to quality, affordable policies more important than ever. Cowbell Cyber provides businesses with cyber policies designed to meet the ever-growing demand by tailoring policies to real-time exposure through real-time monitoring and risk reassessment. Its addition to the Bold Penguin Terminal will make Cowbell’s cyber insurance programs available to the thousands of agents across the United States currently using Bold Penguin to quote and bind small commercial insurance.
“Cyber attacks are a different type of threat that requires a much more holistic approach to insurance,” said Daniel Law, Cowbell’s Vice President of National Accounts and Strategic Partnerships. “That starts with accurate and ongoing risk assessment — a job ideally suited to our AI systems and one which enables us to also focus on risk prevention instead of just remediation. We’re extremely excited to be able to bring that holistic approach to a much wider pool of small businesses through our API integration with the Bold Penguin platform.”
The Bold Penguin Terminal is the largest of its kind, offering a seamless small commercial quote-to-bind experience to independent agents, brokers, and carriers across the United States. Cowbell Cyber is Bold Penguin’s first standalone cyber insurance provider integration, offering agents on the Bold Penguin Terminal the ability to access comprehensive cyber coverage faster than ever before, even for traditionally hard to place exposures.
“We’re thrilled to bring Cowbell Cyber to the Bold Penguin platform. This exciting partnership enables so much upside for our agents as they strive to help mitigate the growing risks of today’s small businesses,” said Bold Penguin’s Chief Operating Officer Jim Struntz. “Cowbell Cyber’s innovative approach to ongoing risk assessment and prevention combined with Bold Penguin’s efficient quote and bind process unlocks this traditionally difficult type of coverage.”
Cowbell Cyber’s products are set to go live on Bold Penguin Terminal beginning in Q3 2021.
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
About Bold Penguin
Bold Penguin is where technology enhances the human touch in commercial insurance. With a heavy focus on agents, Bold Penguin upgrades the user experience for businesses, creates an easy tool for agents, and offers a streamlined process of underwriting for carriers. Bold Penguin was founded in 2016 by a group of entrepreneurs who spent their early days working with Allstate, Nationwide and Progressive alongside regional carriers and established insurance agencies. For more details, please visit www.boldpenguin.com.
[1] https://www.statista.com/statistics/422171/leading-business-risks-globally/
