PLEASANTON, Calif. – November 2, 2021 – Cowbell® Cyber, the industry’s first AI-powered cyber insurance provider for small to medium enterprises (SMEs), today announced a partnership with Sayata, the leading broker platform for placing cyber and other commercial risks, to provide precise, instant quoting for cyber coverage through a 100% digital process, further increasing the speed at which cyber policies can be issued.
The majority of insurance applications submitted through APIs today still result in inaccurate quotes. This triggers the need for manual underwriting and unnecessary delays. Insurance agents and brokers need speed and efficiency when servicing small and mid-size businesses while offering coverages that are relevant, easy to understand and bring value beyond coverage with resources for policyholders to proactively reduce their organization’s cyber risk exposures.
Cowbell and Sayata aim to meet this demand by providing precise quotes for cyber coverage using direct API integration to Cowbell’s platform. Cowbell enables a streamlined end-to-end flow of information that supports instant quoting, automated underwriting and policy issuance of Cowbell Prime 100.
“We are proud to serve cyber insurance applicants with one of the fastest turnaround times on quotes and policy issuance in the industry. Applicants immediately benefit from the wealth of risk management resources that makes Cowbell Cyber a true business partner for those proactively seeking to reduce their cyber risk exposures,” said Erin Dyer, Manager of Strategic Accounts at Cowbell Cyber. “Sayata has already demonstrated a unique ability to deliver large volume. Their large distribution flow, seamless integration, and our shared vision of digitizing the placement process make them an ideal partner.”
“Cowbell shares the same vision of streamlining the distribution channel for more effective risk placement,” said Asaf Lifshitz, CEO at Sayata. “Both Sayata and Cowbell are committed to helping brokers and, by extension, commercial insureds find the coverage they need to best manage cyber risk. This partnership helps our broker partners do just that with an expanded cyber offering that’s crucial for navigating this hard market.”
Sayata delivers rapid growth to insurance brokers and carriers that focus on small-to-medium businesses. The Sayata platform streamlines the quote-bind-issue process allowing insurance professionals to seamlessly place more insurance policies in a fraction of the time. Sayata provides an end-to-end technological solution along with educational tools, giving our partners the ability to grow their book quickly and efficiently. To date, over 1,000 users across 75 brokerages and carriers partner with Sayata to grow their SMB book.
About Cowbell Cyber
Cowbell Cyber provides 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 and provides SMEs with up to $5 Million in standalone coverage. For more information, please visit www.cowbell.insure.
Lumina Communications for Cowbell Cyber
Kevin Capon Goldszmidt
West Ray Communications for Sayata