- Cowbell Cyber — a startup focused on AI-powered cyber insurance for small to mid-sized enterprises — announced a partnership with Advisen
Cowbell Cyber — a startup focused on AI-powered cyber insurance for small to mid-sized enterprises — announced a partnership with Advisen to incorporate the industry’s largest collection of publicly referenceable Cyber Loss events into Cowbell Cyber’s continuous underwriting insurance platform. And Cowbell’s proprietary machine learning algorithms are incorporating Advisen loss data to compile Cowbell Factors and help address current cyber coverage gaps.
“As damages inflicted by cyberattacks increase, coverage must be aligned precisely to a company’s cyber risk to effectively mitigate losses and stem the after-effects of an incident,” said Jack Kudale, founder and CEO at Cowbell Cyber. “Cowbell Cyber’s unique approach to risk selection and pricing is enhanced by the addition of Advisen’s loss events dataset, and the result yields a more effective early warning system and accurate underwriting.”
Cowbell Cyber essentially uses an inside-out approach to offer ongoing and dynamic cyber risk assessments, providing customers with real-time insights into insurable risks. And the flagship offering’s risk-ratings factors (called Cowbell Factors) enables standalone and customized cyber coverage that match policyholders’ needs as they evolve. The coverage is specifically designed for cyber risk exposure, not entwined with other lines of coverage.
“Applying machine-learning to our vast collection of loss event data enables companies like Cowbell Cyber to compensate for the lack of observability into the real cyber risk profile of companies,” added Jim Blinn, Executive Vice President for Client Solutions at Advisen. “Advisen is proud to work with companies like Cowbell Cyber who are exploring the boundaries of the cyber risk frontier to apply and learn from our giant treasure trove of loss events.”