Cowbell’s Continuously Monitored Risk Pool Reaches 30 Million SMEs

90% of U.S. SMEs are now part of the risk pool monitored across 1000+ risk signals

PLEASANTON, Calif. – October 11, 2022Cowbell, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), announced its continuously monitored risk pool has reached 30 million small to medium-sized businesses, covering more than 90 percent of all SMEs in the U.S. Since its inception three years ago, the only cyber insurance-specific risk pool has provided relative risk ratings of U.S. businesses with annual revenues up to $250 million and/or less than 500 employees.

The risk pool helps identify cybersecurity risk profiles of the majority of U.S. SMEs, which make up nearly 44 percent of the U.S. economy, according to the Small Business Administration. The pool encompasses all 20 industries in the North American Industry Classification System (NAICS). The risk pool is the foundation of Cowbell Factors™, the company’s proprietary risk rating model used for risk selection, pricing, policyholder insights, and recommendations.

“Each new company added to the pool improves Cowbell’s understanding of the risk profile of its associated industry. Expanding the number of businesses monitored enables Cowbell to further develop a view of the distribution of risk in the wider world and how it changes over time,” said Rajeev Gupta, co-founder and CPO at Cowbell. “Having substantially all SMEs in the risk pool is crucial in identifying current and potential threats and risks – and increases the efficacy of the Cowbell approach.

Cowbell Factors use a blend of inside-out and outside-in risk signals, and a proprietary library of insurable threats. Cowbell policyholders demonstrate tangible improvements in their cybersecurity hygiene as a result of their collaboration with the company. Cowbell Factors on renewed policies improved by an average of 9% upon renewal as compared to their respective industries.

The expansion of Cowbell’s risk pool follows recent significant milestones for the company. Last month, Cowbell unveiled its Adaptive Cyber Insurance offering for small and medium-sized businesses, as well as its own subsidiary, Cowbell Specialty Insurance Company. This month, Cowbell announced that it is now a national member of the Small Business Digital Alliance (SBDA), the public-private co-sponsorship between the U.S. Small Business Administration (SBA) and Business Forward, Inc.

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About Cowbell
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 to 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

Media Contact
John Kreuzer
Lumina Communications for Cowbell Cyber

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