PLEASANTON, Calif. – December 6, 2022 – Cowbell, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced a new partnership with NordPass, a global leader in password management. With this agreement, NordPass will offer all new and renewing Cowbell policyholders a free six-month subscription of NordPass Business. Additionally, policyholders who continue using NordPass beyond six months will get a customized subscription.
The new partnership demonstrates Cowbell’s ongoing commitment to providing policyholders with industry-leading security tools to help improve their cyber hygiene. By partnering with NordPass, Cowbell’s book of risk is safer, vendors can access a new channel of potential customers and policyholders receive tremendous cost savings.
“We are thrilled to partner with NordPass. Our agreement marks a shift toward the new way cyber leaders and cyber insurance providers must come together to incentivize smart security behavior,” says Jessica Newman, director of strategic alliances, Cowbell. “Cyber insurance, and the strong security controls that lead to higher insurability, are driving purchasing decisions across the market. This agreement is a win-win for us, our partners, and most importantly, our policyholders.”
According to NordPass data, each person has 80-100 passwords to remember and manage across all digital services. Most businesses do not store their passwords in a safe or encrypted format, exposing them to bad actors who exploit bad password habits. A cyberattack is one stolen password away, and password managers remediate some of the pitfalls of passwords by avoiding reuse, enforcing password complexity, and ensuring secure password sharing.
“With the rapid development of technology in the field of cybercrime and increasingly stricter legislative requirements for compliance, companies face financial and reputational risks,” says Jonas Karklys, the CEO of NordPass. “Using password managers that allow endpoint detection and response, as well as setting up MFA, is critical. Our partnership with Cowbell will help companies manage corporate accounts, ensure their sensitive data stays encrypted, and better prepare themselves to secure cyber insurance.”
Many businesses assume that cybersecurity products and services are hard to access or are cost-prohibitive, but Cowbell seeks to break that misconception. Together, NordPass and Cowbell will incentivize customers to improve their cyber risk profile and insurability.
To learn more about Cowbell please visit: https://cowbell.insure/.
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 to 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 15+ A.M. Best A- or higher rated (re)insurance partners and serves SMEs in 50 U.S. states and the District of Columbia. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, and the U.K. For more information, please visit https://cowbell.insure/.
Lumina Communications for Cowbell Cyber