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Acer America
Acer America Corp. is a computer manufacturer of business and consumer PCs, notebooks, ultrabooks, projectors, servers, and storage products.

Location

333 West San Carlos Street
San Jose, California 95110
United States

WWW: acer.com

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September 23, 2020 | ChannelPro

Cowbell Cyber Poised to Dominate Next Wave of Cyber Insurance with Prime 250

Cowbell Delivers Standalone, Admitted Cyber Insurance for Businesses up to $250M in Revenue, Limits up to $15M

Cowbell Cyber, the industry’s first AI-powered cyber insurance provider for small to mid-sized businesses (SMBs), today announced the availability of Prime 250, the first cyber insurance program in the market to deliberately deliver a set of coverages that address the diversity of incidents under the ‘cyber’ category. Prime 250 makes cyber insurance 2.0 a reality delivering on the need for clarity, simplicity, speed and flexibility, in partnership with a panel of prominent carriers and global reinsurers.

With cyberattacks skyrocketing in terms of volume and in types of incidents, businesses now need coverages for protection from network intrusion to ransomware, and everything in between. Yet, according to Advisen’s 2019 Cyber Insurance: The Market’s View survey, “not understanding exposures” (73%), “not understanding coverage” (63%) and “cost” (46%) remain the top three identified obstacles to hindering the adoption of cyber insurance.

As a standalone cyber insurance offering, Prime 250 addresses specifically each type of cyber incident with 25 coverages designed to bring clarity, while removing traditional barriers known to plague the cyber insurance world including one-size-fits-all policies, lengthy paper-based applications, and binding delays.

Highlights of Prime 250 include:

  • Clarity of coverage: Prime 250’s 25 cyber specific coverages are organized to mirror the way businesses experience cyber incidents: first party loss, first party expense and liability.
  • Policy customization with speed and process simplicity: Prime 250 offers three levels of pre-configured industry-specific coverage packages – Basic, Popular, Elite – to help maintain simplicity and speed in the quoting and binding process. In a few clicks, agents and brokers can tailor policies to each policyholder’s risk appetite.
  • Transparency: Policyholders receive value from day one of their policy with access to Cowbell Factors for risk rating and industry peer benchmarking while Cowbell Insights offer recommendations to remediate identified risk exposures. Cowbell Factors, core to the underwriting process, are accessible to policyholders and agents in real-time for full transparency.

“For years, policyholders have raised concerns about the complexity and opacity of cyber insurance. Meanwhile, cyber incidents are becoming more frequent and diverse,” said Trent Cooksley, co-founder and COO at Cowbell Cyber. “We have created Prime 250 with the explicit intent to make cyber insurance easy and bring clarity to coverages and policy terms so that every business can benefit from the financial protection delivered by cyber insurance.”

Insurance premiums for Prime 250 are anchored in Cowbell Factors and dynamically derived from 400 data points and security observations collected about each policyholder in addition to class of business and company size. Written on AM Best “A” rated admitted paper, Prime 250 is currently filed as an admitted cyber insurance program in 33 states.

“We have been impressed from day one by the Cowbell team and their ability to craft cyber coverage forms that are unique and innovative for cyber insurance,” said William Jewett, CEO of Obsidian Insurance Company. “The way in which Cowbell’s platform introduces inside-out data into the underwriting process is elegantly executed, focusing first on the user experience while delivering invaluable risk intelligence.”

Agencies interested in distributing Cowbell Prime programs can contact Cowbell at agencies@cowbellcyber.ai or sign-up at https://cowbell.insure/for-agencies/.

About Cowbell Cyber

Cowbell Cyber is dedicated to providing standalone, admitted, individualized and easy-to-understand cyber insurance for small and mid-size businesses. In its unique AI-based approach to risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue in less than 5 minutes. Cowbell Insurance Agency is currently licensed in 33 U.S. states and provides SMBs with admitted cyber insurance on AM Best “A” rated paper with up to $15 Million in coverage. For more information, please visit www.cowbell.insure

Media Contact 
Lumina Communications for Cowbell Cyber 
Cowbell@LuminaPR.com 

SOURCE Cowbell Cyber


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