Cowbell Cyber and Swiss Re have formed an alliance to offer bespoke insurance solutions to clients operating in a cloud environment.
The cyber insurance coverages are aimed at businesses with up to $750m in revenue, which are expanding their operations on Amazon Web Services (AWS).
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In this tie-up, Cowbell is providing insurance provision and the reinsurer is responsible for offering its risk monitoring technology.
Through the initiative, clients will gain access to Cowbell Factors, which providers a comparative risk profile rating, and the cyber risk technology platform of Swiss Re.
The Swiss Re platform uses security configuration data from the client’s cloud environment to enable risk monitoring and risk scoring used in underwriting.
Additionally, the programme offers guidance on cybersecurity best practices and tools to monitor threats.
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By GlobalDataCowbell founder and CEO Jack Kudale said: “The world is digitising fast and cyber insurance needs to keep up. The partnership between Cowbell and Swiss Re is focused on bringing peace of mind to enterprises that are actively establishing their footprint in the cloud.
“Our partnership brings together a wealth of cyber risk expertise and enables us to make sure policyholders are well protected with accurate insurance coverages that are specifically tailored to cloud environments.”
Swiss Re global head of P&C solutions Pranav Pasricha said: “Cyber resilience is a topic of growing concern globally and an increasing share of the digital economy is now reliant on the cloud. That’s why Swiss Re is committed to closing the protection gap and driving innovation in the insurance industry.
“We are pleased to announce a new class of cyber insurance products and risk assessment platform for AWS customers. Our platform will offer active telemetry, continuous monitoring, and cloud security, giving our partners the ability to offer innovative insurance products to SMEs.”
Earlier this month, Cowbell Cyber rolled out its products on the Amwins Professional Lines portal.
