Cowbell has announced the UK launch of Prime One Tech, a combined professional indemnity (PI) and cyber insurance product tailored for technology companies.
This new product has been introduced to address the growing demand for tailored risk management solutions in the UK’s rapidly expanding technology sector.
The launch is also a response to increasing broker demand for comprehensive protection that goes beyond traditional insurance models, especially amid rising cyber threats in the country.
Cowbell specialises in cyber insurance solutions, leveraging artificial intelligence to provide adaptive coverage and proactive risk management tools for SMEs. With a strong focus on innovation, Cowbell aims to simplify insurance processes through automation, data insights, and continuous risk assessment.
Prime One Tech merges Cowbell’s core cyber insurance offering, Prime One, with dedicated professional indemnity protection for technology firms with up to £1bn in annual turnover.
It offers coverage limits up to £5m and addresses a broad range of risks, from data loss and cyber crime to intellectual property disputes and breach of contract.
One of the product’s standout features is the integration of Cowbell Co-Pilot, a Generative AI-powered tool that reduces contract review time by up to 40%, streamlining underwriting and improving operational efficiency.
Additional benefits for policyholders include access to Cowbell’s patented digital platform. This includes Cowbell Factors™, which leverages data from 47 million businesses to assess risk and offer optimised pricing, and Cowbell Insights™, which provides real-time alerts and cybersecurity recommendations. Cybersecurity training, including phishing simulations and awareness courses, is also included for the first year at no extra cost.
The product offers broad coverage including media liability, mitigation costs, unpaid invoices, and subcontractor risks, with no restrictions on business descriptions—providing flexibility for diverse tech companies.
This marks Cowbell’s first UK venture beyond standalone cyber insurance. The company also brings robust in-house claims expertise to the region, ensuring timely, specialist support for local policyholders.
Cowbell RVP, underwriting & distribution Claud Bilbao said, “The UK has a robust technology sector that faces an increasingly complex array of both cyber threats and operational challenges. These companies – whether software, hardware, communication, or technology service businesses – need more than just general PI insurance. They need tailored, innovative solutions that keep pace with the industry’s rapid evolution. With Prime One Tech, we’re delivering exactly that: a comprehensive, adaptive solution covering risks like data breaches, software failures, cyber loss and liability, empowering technology companies to thrive with confidence.”
Bilbao added, “Looking ahead, our experienced team of underwriters are looking forward to deepening relationships with brokers who specialise in technology accounts and further developing our digital distribution capabilities to better serve the UK market.”
Last year, Cowbell expanded its underwriting capabilities to cover businesses with annual revenues of up to $1bn.
This milestone was achieved through a strategic partnership with Chaucer Group, a prominent global specialty (re)insurer. The collaboration aims to bolster the cyber resilience of the American middle market, a segment increasingly vulnerable to digital threats.
The expansion was driven by a growing recognition of the evolving and complex nature of cyber risks impacting mid-sized companies. Although they account for just 3% of businesses in the United States, these firms are responsible for over $10tn in revenue and one-third of all private sector employment—making them critical to the economy but often lacking in robust cyber protection measures.
By increasing its underwriting capacity, Cowbell sought to bridge this gap, providing tailored cyber insurance solutions to a segment previously underserved in the market.
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