Insurtech Cowbell, a supplier of cyber insurance coverage, has closed a $60m Collection C fairness funding spherical from Zurich Insurance coverage.
With the $60m funding from Zurich, Cowbell plans to scale operations to fulfill rising demand, lengthen its presence in key worldwide markets, bolster cyber resilience providers, introduce cutting-edge merchandise to the market, in addition to additional strengthen strategic partnerships.
As well as, leveraging current advances in AI, the agency goals to develop its technological infrastructure to drive additional efficiencies and help expedited policyholder and dealer decision-making throughout conventional, digital and API-driven channels.
Zurich’s funding in Cowbell underscores its dedication to supporting companies that care about cyber safety and resilience options, significantly throughout the SME and center market segments, the place corporations are uncovered to cyber danger greater than ever.
Moreover, it additionally aligns with Zurich’s ambition to leverage best-in-class know-how and experience to deal with the evolving complexities of cyber danger administration.
Sierra Signorelli, CEO Industrial Insurance coverage at Zurich, stated: “Cyber threats stay a significant concern for enterprise leaders because of their always evolving nature. To deal with this, we proceed to spend money on enhancing our cyber capabilities and constructing a powerful help system for our clients. Cowbell is a wonderful accomplice for managing cyber dangers. They use a data-centric method to danger administration, present steady danger assessments, actively monitor threats, and have sturdy underwriting experience. And all of that is centered round a extremely superior digital platform designed to spice up cyber resilience for his or her clients.”
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Jack Kudale, founder and CEO, Cowbell added: “This funding from Zurich is the strongest endorsement of Cowbell’s imaginative and prescient and capabilities but and deepens our footprint within the international cyber insurance coverage market. With a refined give attention to product growth, we are going to speed up our efforts to ship superior and environment friendly cyber insurance coverage options to SMEs and mid-market companies globally, guaranteeing they’ve the safety and instruments they should navigate the rising threats within the evolving cyber panorama.”
