Cowbell Cyber and Advisen announce data partnership
Cowbell Cyber, a startup focused on Artificial Intelligence (AI)-powered cyber insurance for small to mid-sized enterprises, has partnered with insurance data provider Advisen to incorporate the industry’s largest collection of publicly referenceable cyber loss events into Cowbell Cyber’s continuous underwriting insurance platform. Cowbell’s proprietary machine learning algorithms incorporate 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, 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.”
Jim Blinn, executive vice president for client solutions, Advisen, said: “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. 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.”
Cowbell Cyber provides customers with real-time insights into insurable risks. The flagship offering’s risk-ratings factors, Cowbell Factors, enable standalone and customised cyber coverage that match policyholders' needs as they evolve.
Cowbell Cyber launched its cyber insurance policy, Cowbell Prime, in January 2020 and is actively appointing agencies in six US states. Jack Kudale, Founder and CEO of Cowbell Cyber will participate in a panel discussion titled Cyber Insurtech and the Rise of Cyber MGAs during Advisen’s Cyber Risk Insights Conference in San Francisco on February 12.
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