Cyber insurer Cowbell Cyber and global reinsurance firm Swiss Re Group have launched a cyber insurance program for enterprises' Amazon Web Services (AWS) cloud workloads.
Cyber Insurance Program Details
The program provides enterprises with access to:
- Cowbell Factors, which provides enterprises with a library of insurable threats and artificial intelligence to develop risk ratings that they can use to quantify their cyber insurance needs
- Swiss Re's Cyber Guardian cyber risk technology platform, which lets enterprises use security configuration data from their AWS environments for risk monitoring and risk scoring
- Cowbell's in-house team of cyber claims experts, which handles all cyber incidents
- A 24/7 incident response hotline
- Cyber threat monitoring tools
In addition, program participants can receive guidance on how to deploy cybersecurity best practices in cloud environments, Cowbell noted. It also includes a credit toward an AWS Security Hub subscription.
Enterprises with up to $750 million in revenue can join the program, Cowbell stated. Cyber insurance policies contained in the program are distributed and available nationwide through Cowbell's network of 17,000 brokers across 3,000 agencies.
Cowbell Raises $100 Million, Partners with Ingram Micro
The Swiss Re cyber insurance program for AWS cloud workloads comes after Cowbell in March 2022 added $100 million in funding. Cowbell is using the funding to increase its investments in data science, underwriting, risk engineering and claims management, expand its go-to-market channels and support its Cowbell Re reinsurance captive, the company said.
Previously, Cowbell in February 2022 announced a partnership with Trend Micro to increase MSPs' access to cyber insurance. With the partnership, Trend Micro's MSP partners can use an all-digital application process to access Cowbell Cyber’s Prime 100 cyber insurance policies, the companies stated. Trend Micro and Cowbell also provide their mutual customers with real-time insights into risk exposures.
Cowbell uses technology and data to provide enterprises with custom cyber coverages. It reported 260% growth in written premiums, 272% growth in revenues and 438% growth in policyholders year over year in the first half of 2022.
