Cowbell Cyber has introduced its Cyber Risk Heatmap to support the assessment of cyber risk portfolios.

The new offering will enable Cowbell’s agencies and brokers, insurance and reinsurance partners, and underwriters to view the distribution of covered risk in their portfolios.

This will in turn help in creating a balanced business book, manage profitability growth and enhance overall risk profile of each portfolio.

The launch comes after a Cowbell research found 71% of policyholders expect recommendations on minimising risk exposure from their cyber insurance provider.

Cowbell Cyber co-founder and chief product officer Rajeev Gupta said: “In a world where cyber insurance is becoming harder to obtain due to the volatile nature of cyber risks, Cowbell Cyber Heatmap allows us and our partners to quickly analyse the standing of any insurance book of business.

“The innovation Cowbell has brought to the cyber insurance landscape has, once again, allowed us to remain steadfast in our approach to properly assess and cover risk in the most rigorous manner.”

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The Heatmap leverages Cowbell Factors, a set of risk rating factors that offers real time evaluation of the organisation’s cyber risk and matches it to the most relevant coverage for the business. It is also updated regularly to include the latest risk profile data.

Cowbell’s 16,000 agency producers can use the offering at no cost.

Cowbell focuses on offering cyber insurance for small and medium-sized enterprises (SMEs). Earlier this year, it raised $100m in a round led by Anthemis Group.