Cowbell Unveils Adaptive Cyber Insurance; Launches Cowbell Specialty Insurance Company


Initiatives culminate three years of continued innovation focused on cyber insurance adoption and profitability

PLEASANTON, Calif. – September 21, 2022Cowbell, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced the debut of Adaptive Cyber Insurance – a dynamic approach to insure constantly changing risk – and the launch of its subsidiary, Cowbell Specialty Insurance Company (Cowbell Specialty). Both endeavors mark major milestones for the company whose mission since inception has been to aggressively reinvent cyber insurance, close the insurability gap and drive cyber insurance adoption and distribution to an underserved SME market.

“Three years ago, we launched the insurance industry’s first ever continuous underwriting platform that aligned insurable threats to risk exposures, in order to proactively mitigate losses in the aftermath of cyberattacks,” said Jack Kudale, founder and CEO at Cowbell. “Today, our journey has set us up to lead the next wave of innovation in the cyber insurance industry.”

Adaptive Cyber Insurance

The dynamic nature of cyber risk requires insurance policies to evolve accordingly. Cowbell’s adaptive cyber insurance transforms cyber coverage from a static offering to a dynamic one, adaptable to today’s and tomorrow’s threats. Policies can now evolve more frequently than yearly to remain aligned with the policyholder’s cyber exposures, avoid coverage gaps and bring full transparency into renewal terms throughout the policy period. Driven by the benefit of strong incentives, policyholders are empowered to improve their organization’s cyber risk profile to avoid potentially disastrous financial losses or reputational damages.

Cowbell’s Adaptive Cyber Insurance bundles risk management tools and services with coverage so that policyholders are able to continuously address changes in the threat landscape. The engagement between Cowbell starts with a real-time benchmark of cyber risks measured by Cowbell Factors and including inside-out risk data. Continuous risk monitoring and risk engineering services then support policyholders in mitigating newly identified exposures and security weaknesses throughout the policy period.

The impact of Adaptive Cyber Insurance is already tangible across current Cowbell policyholders, where continuous risk assessment and risk engineering efforts have contributed to an overall 9 percentage point improvement of their risk profile as benchmarked against their industry peers.

“We welcome Cowbell’s initiative on Adaptive Cyber Insurance,” said Hamesh Chawla, CEO of Mulberri. “Our clients are more and more willing to share inside-out data and have the opportunity to optimize their cyber coverage more than once a year as risk evolve while also applying cyber risk management recommendations from their insurer.”

“We are excited to partner with Cowbell to bring an innovative approach to managing cyber risk,” said Sumedh Thakar, president and CEO of Qualys. “Qualys Vulnerability Management, Detection and Response (VMDR) with TruRisk is helping customers quickly and effectively reduce their cyber risk. Using Cowbell adaptive insurance along with Qualys VMDR, companies additionally benefit from their Qualys investment by qualifying for premium incentives.”

Cowbell Specialty

The launch of Cowbell Specialty augments Cowbell’s current business model as Cowbell Specialty joins a reputed panel of 15 carriers and reinsurers that currently support Cowbell Prime cyber insurance programs. Paired with Cowbell Re – the company’s reinsurance captive – Cowbell Specialty allows for additional flexibility and control in serving a fast-growing market with innovative solutions such as Adaptive Cyber Insurance while enforcing best-in-class underwriting for unit-based profitability.

“Adaptive Cyber Insurance is a major evolution for cyber insurance and with the launch of Cowbell Specialty, along with Cowbell Re, we gain the insurance footprint of a tech-enabled, full stack high-growth insurer, giving us the flexibility to expand our business and innovate for the benefit of all our policyholders,” added Kudale.

Adaptive Cyber Insurance will be available to businesses with up to $1B of revenue with Cowbell Prime 1000 which will be available in Q1 2023. To learn more about the innovation, download Cowbell Adaptive Cyber Insurance white paper.

About Cowbell

Cowbell is a pioneer of Adaptive Cyber Insurance, a leader in providing small and medium-sized enterprises (SMEs) with coverage adaptable to today and tomorrow’s threats along with 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 to less than 5 minutes. Cowbell is backed by 15 AM 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


Media Contact
Jacqueline Meyler
Lumina Communications for Cowbell


Cowbell Specialty Insurance Company is licensed as a foreign surplus lines insurer in 46 states: Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Delaware, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming and the District of Columbia (D.C.). Access Cowbell’s licensing details.

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