Cowbell has launched Prime One Tech within the UK, knowledgeable indemnity and cyber insurance coverage resolution for know-how corporations with annual revenues of as much as £1bn.
The product affords skilled indemnity and cyber protection with limits of as much as £5m.
Prime One Tech integrates the corporate’s Prime One cyber programme, providing skilled indemnity protection for tech entities.
It’s supported by Cowbell Co-Pilot, a genAI device geared toward streamlining underwriting workflows, with the potential to cut back contract evaluate time by as much as 40%.
This represents Cowbell’s first step past stand-alone cyber insurance coverage within the UK market, the insurer mentioned in an announcement.
Prime One Tech goals to handle the precise wants of know-how corporations and demand from brokers for options that cowl the dangers confronted by the sector.
The protection contains skilled indemnity, cybercrime, lack of information or paperwork, breach of contract and mental property infringement.
Moreover, it covers subcontractors, cyber first and third get together, media legal responsibility, mitigation prices and unpaid invoices.
Moreover, Cowbell supplies in-house claims obligations for UK policyholders.
Prime One Tech policyholders can entry Cowbell’s platform, which affords threat evaluation, insights and coaching instruments.
Cowbell Components assesses cyber threat throughout eight classes, utilizing information from 47 million companies within the UK, US and Japan to optimise premiums for organisations with threat profiles.
The platform supplies real-time menace alerts, suggestions and 12 months of free coaching after coverage inception.
Cowbell UK Underwriting & Distribution RVP Claud Bilbao mentioned: “With Prime One Tech, we’re delivering precisely that: a complete, adaptive resolution protecting dangers like information breaches, software program failures, cyber loss and legal responsibility, empowering know-how corporations to thrive with confidence.
“Trying forward, our skilled workforce of underwriters are wanting ahead to deepening relationships with brokers who concentrate on know-how accounts and additional creating our digital distribution capabilities to raised serve the UK market.”
Cowbell obtained $60m funding from Zurich Insurance coverage Group final yr in a Sequence C spherical.
