Cowbell, a provider of cyber insurance solutions, is broadening its reach within the UK to include mid-market businesses with annual turnovers of up to £1bn ($1.27bn).
The company currently serves SMEs.
Go deeper with GlobalData
Cowbell said this expansion allows a wider range of UK PLCs to access its data-driven technology and protection against cyber threats.
The US-based insurer’s platform, which features real-time underwriting, enables brokers to tailor cyber policies to address unique risk exposures.
These policies cover a variety of cyber incidents such as email scams, ransomware and social engineering attacks.
Cowbell leverages a vast and monitored risk pool, which includes 35 million SMEs in the US and 4.5 million SMEs and mid-market businesses in the UK.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe company’s data and tools are shared with brokers, enhancing their ability to engage in informed discussions with clients about cyber risk scenarios.
Cowbell also offers a patented risk rating solution, known as Cowbell Factors, which analyses threats to provide businesses with insights to allow them to benchmark their IT risk against industry peers.
Cowbell UK VP and general manager Simon Hughes said: “Our decision to expand cybersecurity coverage to companies with an annual turnover of up to £1bn stems from the demand for advanced cybersecurity solutions we have observed in the mid-market segment, where the traditional InsurTech offerings often fall short.
“As cyberattacks increase year-after-year, both in the UK and globally, business owners are often left guessing how to better protect their businesses against these pressing threats. By leveraging our proven track record, vast risk pool and innovative technology we will be able to safeguard not only SMEs but also empower businesses with greater complexities, larger operations and serve a broader clientele.”
In September 2023, the cyber insurer launched its artificial intelligence-powered cyber insurance proposition, Cowbell Prime One.
