Cowbell has launched Prime One Tech within the UK, an expert indemnity and cyber insurance coverage answer for expertise corporations 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 device geared toward streamlining underwriting workflows, with the potential to scale 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 stated in an announcement.
Prime One Tech goals to handle the precise wants of expertise 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 social gathering, media legal responsibility, mitigation prices and unpaid invoices.
Moreover, Cowbell offers in-house claims duties for UK policyholders.
Prime One Tech policyholders can entry Cowbell’s platform, which presents threat evaluation, insights and coaching instruments.
Cowbell Components 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 offers real-time menace 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 answer overlaying dangers like knowledge breaches, software program failures, cyber loss and legal responsibility, empowering expertise corporations to thrive with confidence.
“Trying forward, our skilled staff of underwriters are wanting ahead to deepening relationships with brokers who specialize in expertise accounts and additional creating our digital distribution capabilities to raised serve the UK market.”
Cowbell obtained $60m funding from Zurich Insurance coverage Group final 12 months in a Collection C spherical.
