Cowbell has launched Prime One Tech within the UK, knowledgeable indemnity and cyber insurance coverage resolution for know-how firms with annual revenues of as much as £1bn.
The product presents 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 software aimed toward streamlining underwriting workflows, with the potential to scale 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 stated in an announcement.
Prime One Tech goals to handle the particular wants of know-how firms 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 occasion, 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 presents danger evaluation, insights and coaching instruments.
Cowbell Elements assesses cyber danger throughout eight classes, utilizing information from 47 million companies within the UK, US and Japan to optimise premiums for organisations with danger profiles.
The platform supplies real-time risk alerts, suggestions and 12 months of free coaching after coverage inception.
Cowbell UK Underwriting & Distribution RVP Claud Bilbao stated: “With Prime One Tech, we’re delivering precisely that: a complete, adaptive resolution masking dangers like information breaches, software program failures, cyber loss and legal responsibility, empowering know-how firms to thrive with confidence.
“Wanting forward, our skilled crew of underwriters are trying ahead to deepening relationships with brokers who specialize in know-how accounts and additional creating our digital distribution capabilities to higher serve the UK market.”
Cowbell acquired $60m funding from Zurich Insurance coverage Group final 12 months in a Sequence C spherical.
