Cowbell, a supplier of cyber insurance coverage for small and medium-sized enterprises (SMEs), has expanded its insurance coverage portfolio within the US by together with a multi-line insurance coverage providing from Zurich North America.
The brand new providing, Zurich Choose Plus, is a set of 4 coverages designed for small to medium-sized personal companies.
The protection consists of administrators and officers (D&O), employment practices legal responsibility (EPL), crime and fiduciary insurance coverage.
Cowbell mentioned the collaboration builds on its established presence within the cyber and expertise errors and omissions insurance coverage market.
Zurich Choose Plus will likely be distributed by way of the surplus and surplus (E&S) strains channel and is co-branded.
Moreover, Cowbell now gives administration legal responsibility protection.
Cowbell founder and CEO Jack Kudale mentioned: “By leveraging our first-of-its-kind, vertically built-in, AI-powered platform and proprietary threat modelling, we’ve simplified the method, enabling sooner, extra streamlined transactions for our dealer companions.
“Now, we’ve aligned with Zurich to convey innovation to further strains of protection, additional advancing our mission to offer complete, tech-forward insurance coverage to the worldwide SME and middle-market phase.”
The corporate employs each a totally built-in API and a proprietary agentic e-mail automation platform to facilitate insurance coverage processing.
This latter platform makes use of giant language mannequin brokers to automate the extraction and validation of information from submissions, together with content material from emails, attachments and pictures.
Final yr, Cowbell secured $60m (SFr47.84m) in Sequence C funding from Zurich Insurance coverage Group.
Zurich North America CEO Kristof Terryn said: “On the one-year mark of Zurich’s funding in Cowbell, we’re happy to supply our industry-leading Zurich Choose Plus product for D&O, EPL, fiduciary and crime coverages.
“By means of Cowbell’s digital platform, the Zurich Cowbell collaboration and relationship can present bindable quotes inside seconds of receiving the required underwriting info.”
In April, Cowbell launched Prime One Tech within the UK, knowledgeable indemnity and cyber insurance coverage resolution for expertise firms with annual revenues of as much as £1bn ($1.37bn).
The product gives 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.
