Cowbell has launched Prime One Tech within the UK, knowledgeable indemnity and cyber insurance coverage answer for know-how corporations with annual revenues of as much as £1bn.
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.
It’s supported by Cowbell Co-Pilot, a genAI instrument aimed toward streamlining underwriting workflows, with the potential to cut back contract evaluation 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 deal with the particular wants of know-how corporations and demand from brokers for options that cowl the dangers confronted by the sector.
The protection consists of skilled indemnity, cybercrime, lack of knowledge or paperwork, breach of contract and mental property infringement.
Moreover, it covers subcontractors, cyber first and third celebration, media legal responsibility, mitigation prices and unpaid invoices.
Moreover, Cowbell gives in-house claims duties for UK policyholders.
Prime One Tech policyholders can entry Cowbell’s platform, which gives threat evaluation, insights and coaching instruments.
Cowbell Elements assesses cyber threat throughout eight classes, utilizing knowledge from 47 million companies within the UK, US and Japan to optimise premiums for organisations with threat profiles.
The platform gives real-time risk 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 answer masking dangers like knowledge breaches, software program failures, cyber loss and legal responsibility, empowering know-how corporations to thrive with confidence.
“Wanting forward, our skilled group of underwriters are trying ahead to deepening relationships with brokers who specialize in know-how accounts and additional growing 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.
