Heatmap delivers rapid visibility into the standing of cyber insurance plan portfolios
PLEASANTON, Calif., Could 25, 2022 /PRNewswire/ — Cowbell Cyber, the foremost service provider of cyber insurance coverage for modest and medium-sized enterprises (SMEs), currently introduced the start of its Cyber Danger Heatmap. The Heatmap – the market’s most information-abundant and dynamic evaluation of cyber risk portfolios – gives all of Cowbell’s agencies and brokers, insurance coverage and reinsurance companions, and underwriters with fast visibility into the distribution of coated danger in their portfolios. This improved visibility enables Cowbell and its associates to establish a well balanced ebook of organization, control development for profitability and enhance the all round hazard profile of every single portfolio.
In accordance to Cowbell’s current exploration, 71% of policyholders want their cyber insurance coverage company to give tips to lessen hazard exposure. The complexity of consistently evaluating cyber chance at the portfolio degree and at the person account level final results in blind places in risk range. Cowbell demonstrates its innovation by taking away these blindspots at the portfolio level for all stakeholders associated. This in transform minimizes the frequency and severity of claimed statements. Cowbell’s continually monitored risk pool now encompasses 24 million SMEs – 75% of the total U.S. SME sector.
“In a globe where cyber insurance coverage is turning into tougher to acquire owing to the risky nature of cyber challenges, Cowbell Cyber Heatmap permits us and our partners to swiftly assess the standing of any insurance coverage e-book of small business,” said Rajeev Gupta, co-founder, and chief product officer at Cowbell Cyber. “The innovation Cowbell has introduced to the cyber insurance plan landscape has, when once again, permitted us to stay steadfast in our method to appropriately evaluate and include risk in the most demanding way.”
The Heatmap is powered by Cowbell Variables, a established of possibility ranking variables that assess the organization’s cyber chance in authentic-time and then quickly matched to the most applicable coverage for the business enterprise. The underlying engineering comes from Cowbell’s Cyber Danger Framework which incorporates safety controls from numerous criteria which includes the NIST Cyber Stability Framework, COBIT, the Payment Card Business Facts Safety Common (PCI DSS), and the most not too long ago revised NIST Cybersecurity Source Chain Possibility Management (C-SCRM) software – augmented by Cowbell’s proprietary controls.
Cowbell’s Cyber Chance Heatmap is accessible to all of Cowbell’s 16,000 agency producers at no expense and is updated on a ongoing foundation to include the most current possibility profile data to ensure accuracy. To find out more, check out https://cowbell.insure/cyber-possibility-heatmap/
About Cowbell Cyber
Cowbell Cyber presents standalone, individualized, and simple-to-realize cyber coverage for tiny and medium-sized enterprises (SMEs). In its exceptional AI-centered method to risk assortment and pricing, Cowbell’s continuous underwriting system, powered by Cowbell Variables, compresses the insurance policies approach from submission to problem to fewer than 5 minutes. Cowbell Insurance coverage Agency is at the moment licensed in 50 U.S. states and the District of Columbia. Cowbell Reinsurance Business is a licensed insurance plan captive in the State of Vermont. For much more data, make sure you stop by www.cowbell.insure.
Lumina Communications for Cowbell Cyber
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