Cowbell, a leading provider of cyber insurance for SMEs, has introduced a new generative AI solution aimed at optimising underwriting workflows.
The introduction of Prime Tech with Cowbell Co-Pilot aims to enhance cyber insurance offerings by leveraging artificial intelligence (AI) for efficient underwriting.
The solution is Cowbell’s adaptive cyber insurance offering, combining flagship Prime 250 cyber risk insurance with Technology Errors and Omissions (E&O) primary coverage. It helps underwriters better assess risk, providing valuable insights to improve decision-making at speed, leading to a 40% faster contract review time on average.
To bring Prime Tech to the market, Cowbell is deepening its partnership with Obsidian Insurance Company, an A.M. Best rated “A-” excellent hybrid program carrier. Prime Tech is available to businesses with up to $250m in revenue in the US and provides limits of up to $5m.
Cowbell is a prominent provider of cyber insurance solutions tailored for small and medium-sized enterprises (SMEs). They specialise in offering comprehensive coverage to protect businesses against cyber threats and vulnerabilities.
Trent Cooksley, Chief Operating Officer and Co-Founder of Cowbell, stated, “Providing one policy that combines cyber with Tech E&O helps maximise contact points for the broker and the insured, solve for coverage overlap, and streamline claims processes. Tech E&O primary, particularly paired with cyber insurance, is important to protect companies against rising threats and has been a highly requested product by our clients. We are thrilled to deepen our long-time relationship with Obsidian to deliver Prime Tech.”
William Jewett, Chief Executive Officer of Obsidian, commented, “Deepening our partnership with Cowbell will provide greater cyber insurance solutions for insureds and offer a comprehensive insurance strategy for technology companies. We are proud to support them in that pursuit. We believe strongly in Cowbell’s mission – and have since we entered our partnership four years ago. Their commitment to offering solutions for their clients creates a durable partnership and we are excited for the opportunities that will come with the growth of our relationship.”
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