Cowbell, a provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced its partnership with Zywave, an industry-leading provider of insurtech solutions.
The partnership is powered by Herald, a digital infrastructure provider that connects software developers to commercial insurance carriers “through a single API, and leverages Cowbell’s leading technology and individualized coverage options for a superior customer experience through Zywave’s expanding, simple and efficient, API-first interface for quoting commercial and E&S insurance.”
The collaboration marks the first standalone cyber insurance offering “on Zywave’s Hub, which provides MGAs, wholesale brokers, and retailers, with quicker access to modernized cyber insurance products.”
Despite cyber being the fastest-growing line of insurance business “in recent history, four out of five SMEs are still uninsured or underinsured, according to a recent report published by the small business resource AdvisorSmith.”
By partnering with Zywave, Cowbell extends its reach within MGAs and brokers and helps further accelerate the adoption of cyber insurance within the SME market.”
Rajeev Gupta, co-founder and CPO of Cowbell, said:
“As the first cyber insurance provider on Zywave’s Hub via Herald’s API, our adaptive programs are now available to over 40 additional trading partners.”
Duncan Crystal, co-founder and CRO at Herald, said:
“Together, we’re proving how API-driven distribution can transform an industry that has traditionally run on paper.”
The ability to adapt to ever-changing market conditions in almost real-time allows capacity providers like Cowbell to expand or contract the markets they serve without being hindered by manual processes and antiquated technology.
Expanding Zywave’s offerings through Cowbell’s advanced technology and quality insurance programs ushers in a new and improved way for brokers to sell cyber insurance to their clients.”
As covered, Cowbell is focused on Adaptive Cyber Insurance, and a key player in providing small and medium-sized enterprises (SMEs) coverage adaptable to today’s and tomorrow’s threats and the advanced warning of cyber risk exposures.
In its AI-based approach in 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.”
Founded in 2019, Cowbell is based in the San Francisco Bay Area “with employees across the U.S., Canada, India, and the U.K.”