RISK MANAGEMENT

Cowbell Cyber Announced Partner Program to Provide Policyholders with Closed-Loop Risk Management

Cowbell Cyber | February 04, 2021

Cowbell Cyber, the business' first AI-controlled cyber insurance supplier for small to mid-sized organizations (SMBs), today reported Cowbell Connect, its accomplice program which arms policyholders with complete, closed-looped risk management. Cowbell Connect joins an abundance of ability and assets from an assortment of accomplices to address perhaps the greatest danger to organizations: cyber episodes.

Organizations have consistently been fundamental to Cowbell's capacity to quickly fabricate imaginative cyber insurance programs that nearby the insurability hole for policyholders and bring velocity, effortlessness and adaptability to policyholders and insurance dissemination. Cowbell Connect fortifies Cowbell's closed-circle way to deal with cyber risk management by packaging cyber inclusion with risk appraisal, evaluation, and moderation just as pre-and post-penetrate administrations.

"The complex worlds of cybersecurity and insurance have traditionally operated in silos. Cowbell Cyber brings the two worlds together to make it easy for policyholders to understand where they stand against today's biggest cyber threats," said Isabelle Dumont, Vice President of Market Engagement at Cowbell Cyber. "Cowbell Connect brings together the richest partner ecosystem made up of partners and experts to enable closed-loop risk management from identification, quantification, remediation and financial protection."

Cowbell Connect partners range from data aggregators, cybersecurity vendors and service providers to digital aggregators and risk mitigation services:
  • Data Aggregators that contribute to Cowbell's ability to continuously assess risk. This includes Advisen, Dun & Bradstreet, DarkOwl which are augmenting Cowbell's own proprietary attack surface monitoring scanners.
  • Cloud Providers that manage a significant infrastructure footprint for their clients such as email, collaboration tools, application services and computing capacity. This includes Microsoft 365, Azure, AWS and Google. Cowbell integrates with these partners through APIs to bring deep, timely cyber risk insights to policyholders and recommendations on how to improve their risk profile.
  • Cybersecurity Platforms that manage and monitor specific aspects of a business security. This includes Qualys for vulnerability, compliance and container security; Safeguard for providing security and compliance to social media, collaboration and chat communication channels; and Security Studio for MSSPs.
  • Training Providers, such as Wizer, that bring on-going security awareness training to insureds' employees and building the first line of defense against phishing email and ransomware attacks.
  • Managed Service Providers that handle security for many businesses in the form of consulting services, managed services, or outsourcing.
  • Incident Response Services that are part of our claim panels and bring expertise on ransomware incidents, forensic, legal and recovery activities in the aftermath of an incident.
  • Digital Platforms and Ecosystems: Cowbell integrates bidirectionally with a host of channels, platforms and ecosystems including reinsurers, brokers and agents, aggregators, and networks.
  • Industry Associations including Independent Insurance Agents & Brokers of America (IIAB), the Insurance Agency Owners Alliance (IOAO), the Insurance Connector, and the Stay Safe Online program.   
"Businesses need a 360-degree view of their cyber risk that is continuously updated and includes vulnerabilities, cloud threats, and compliance gaps," said Karun Malik, Vice President of Strategic Alliances and Channel Development, Qualys. "We are pleased to be working with Cowbell Cyber to provide cyber insurance applicants and policyholders with risk insights that allow them to keep their business safe and mitigate risks prior to an incident."

"Cyber incidents such as ransomware, or other attacks, can be a life or death experience for businesses. Timely handling of such attacks by an experienced breach coach is paramount," said John Mullen from Mullen Coughlin. "We welcome the opportunity to assist Cowbell's policyholders with a ransomware hotline and collaborate with Cowbell Cyber on incident response."

About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted, individualized and easy-to-understand cyber insurance for businesses with up to $1 Billion in revenue. In its unique AI-based approach to risk selection and pricing, Cowbell's continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia and provides SMBs with admitted cyber insurance on AM Best "A" rated paper with up to $15 Million in coverage.

Spotlight

This report provides a comprehensive assessment of climate change and its impacts on agriculture1 in the Eastern (Egypt, Israel, Jordan, Lebanon and Palestine) and Western (Algeria, Morocco and Tunisia) countries of the Southern Mediterranean, as well as the policy measures currently in place, as identified from publicly available data. The sector, on average, currently represents about 7.3% of total GDP in the region (ranging from about 1% in Israel up to over 13% in Morocco)2 and is projected to increase by about 1.5% per year, mainly through productivity improvements3.

Spotlight

This report provides a comprehensive assessment of climate change and its impacts on agriculture1 in the Eastern (Egypt, Israel, Jordan, Lebanon and Palestine) and Western (Algeria, Morocco and Tunisia) countries of the Southern Mediterranean, as well as the policy measures currently in place, as identified from publicly available data. The sector, on average, currently represents about 7.3% of total GDP in the region (ranging from about 1% in Israel up to over 13% in Morocco)2 and is projected to increase by about 1.5% per year, mainly through productivity improvements3.

Related News

CORE INSURANCE

AXA UK&I Selects Cognizant as a Technology Partner to Support part of its IT Operations

Cognizant and AXA | August 04, 2022

Cognizant today announced that it has been selected by AXA UK & Ireland as a technology partner to help consolidate, modernize and manage part of its IT operations. AXA UK & Ireland is transforming its technology ecosystem to create a more digitally-enabled, modern and agile IT environment that is data-rich, secure and sustainable with lower overall cost. Under the new multi-year agreement, Cognizant will provide multi-faceted managed services and cloud migration services, helping AXA UK & Ireland to create a platform to continually improve its customer experience with more intuitive and secure digital channels. Cognizant will provide integrated IT services spanning service desk support and maintenance, end-user computing, application development and maintenance, cloud operations, and IT infrastructure management. "AXA UK & Ireland's priority is providing customers with the choice and flexibility that meets their insurance needs. The foundation to deliver that is a modern, digital IT infrastructure that enables us to make data-driven business decisions, Cognizant's track record, expertise and behaviors in helping organizations simplify delivery and manage IT environments were the primary factors in choosing them as a technology partner." -Shali Vasudeva, chief operating officer, AXA UK & Ireland Digitally-enabled IT is critical for delivering better customer experience, bringing innovations to market faster and reducing overall cost, We're honored to have been selected by AXA UK & Ireland to help transform their legacy environment and to support them in enabling technology to achieve better business outcomes. This new partnership builds on our strong momentum as a leader in helping global insurance clients meet their ambitions,said Rob Walker, president, Global Growth Markets, Cognizant. Global analyst firms continually recognize Cognizant for its industry leadership across sectors. Analysts highlight the company's client partnerships, scalability, digital capabilities and expertise as key drivers of Cognizant's leadership. Learn more about Cognizant's insurance services here. About AXA We’re continuously striving to make your life better and safer. We work tirelessly to turn innovations into improvements in people’s lives, by exploring, learning and playing with new ideas. Because we always believe things can be better. That’s why we support visionary startups shaping the future of healthcare technology, research to help people live longer healthier lives and even driverless car projects to revolutionise road safety. We challenge the way things are. We push boundaries. And the reason for this uncompromising approach - to help make our customers’ lives better and safer. About Cognizant Cognizant engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life.

Read More

CORE INSURANCE

Corvus Insurance Opens Continental European Office in Germany

Corvus | July 28, 2022

Corvus Insurance, the market-leading specialty insurance MGA offering Smart Commercial Insurance® products powered by AI-driven risk data, today announced the opening of a new continental European office in Frankfurt, Germany. The newest office location for Corvus creates a presence in continental Europe for the company — a first for a US-based insurtech — allowing Corvus greater flexibility to expand its international footprint and capabilities through new markets. “Frankfurt is located within the largest insurance market on the continent and the city has always been an international business hub across industries,” said Oliver Delvos, Head of International at Corvus Insurance. “Frankfurt is located within the largest insurance market on the continent and the city has always been an international business hub across industries,” said Oliver Delvos, Head of International at Corvus Insurance. “We will be able to spread our wings and develop our business with a true European focus.” The Frankfurt office will look to underwrite cyber insurance business for both small- and medium-sized businesses (SMBs) and larger corporations. Coupled with product growth, Corvus seeks to increase employee headcount by attracting new talent to the industry and into tech. This will include offering positions for ‘Werkstudenten’ from universities as a way to provide graduates with potential career opportunities. “Cyber by its very nature is a global risk, and by expanding our operations into Europe, this will create new opportunities for our team to help even more policyholders and support our foundational mission of making the world a safer place,” said Lori Bailey, Chief Insurance Officer of Corvus Insurance. To learn more about Corvus, please visit https://www.corvusinsurance.com. About Corvus Corvus Insurance is building a safer world through insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Our market-leading specialty insurance products are enabled by advanced data science and include Smart Cyber Insurance®, Smart Tech E+O™, and Smart Cargo®. Our digital platforms and tools enable efficient quoting and binding and proactive risk mitigation. Corvus Insurance offers insurance products in the US, Middle East, Europe, Canada, and Australia. Current insurance program partners include AXIS Capital, Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and Skyward Specialty Insurance. Corvus Insurance, Corvus London Markets, and Corvus Germany are the marketing names used to refer to Corvus Insurance Agency, LLC; Corvus Agency Limited; and Corvus Underwriting GmbH. All entities are subsidiaries of Corvus Insurance Holdings, Inc. Corvus Insurance was founded in 2017 and is headquartered in Boston, Massachusetts with offices across the US, in the UK, and Germany. For more information, visit corvusinsurance.com.

Read More

INSURANCE TECHNOLOGY

Zurich Insurance Germany Selects Cognizant as Strategic IT Partner to Transform its General Insurance Application Landscape

Zurich Group Germany, Cognizant | July 07, 2022

Cognizant today announced that it has extended its relationship with Zurich Beteiligungs-AG, the German subsidiary of global insurance leader Zurich Insurance Group (Zurich), to help Zurich Germany deliver more digital services offerings to its clients and partners. As part of the new multi-year agreement, Cognizant will work closely with Zurich Germany to simplify, modernize, and manage and maintain the insurer's enterprise application landscape in the General Insurance domain. The partnership will establish joint DevOps teams and is designed to extend Zurich Germany's artificial intelligence (AI), data, software engineering and cloud capabilities. By bringing together Zurich Germany's applications in its General Insurance domain under the joint management of inhouse IT and Cognizant as key strategic IT services provider, Zurich Germany is expected to reduce the total cost of ownership, speed up the time to market of new digital services and products, and lay the foundation for further digital and agile enablement of the enterprise. "Zurich is on an ongoing journey of 'accelerated digital evolution' to meet the rapidly changing needs of our customers and partners and creating a more intimate connection with them. Cognizant has proven itself as a knowledgeable and reliable strategic partner, and we look forward to further capitalizing on its industry expertise to help us advance our digital transformation," said Jens Becker, chief information officer, Zurich Germany. "Zurich is on an ongoing journey of 'accelerated digital evolution' to meet the rapidly changing needs of our customers and partners and creating a more intimate connection with them. Cognizant has proven itself as a knowledgeable and reliable strategic partner, and we look forward to further capitalizing on its industry expertise to help us advance our digital transformation," said Jens Becker, chief information officer, Zurich Germany. The new agreement builds on and significantly expands the two companies' existing agreement, under which Cognizant successfully implemented and manage and maintain Zurich's General Insurance products on Guidewire. "Innovative, forward-thinking clients like Zurich understand the importance of collaborating with a strategic IT partner to help them achieve their digital transformation and meet their business objectives," said Dr. Rolf Werner, head of Germany, Austria and Switzerland, Cognizant. "Cognizant is pleased to have been selected by Zurich to expand our successful collaboration, and we will apply our deep expertise in application modernization, development and maintenance, along with our in-depth knowledge of the insurance industry, to deliver even more value and help Zurich meet its customers' needs." About Zurich Group Germany Zurich Group Germany is part of the worldwide operating Zurich Insurance Group. With a premium income (2021) of about EUR 6.3 bn, investments of EUR 53 bn and about 4,500 employees, it is among the leading insurers in Germany with a wide range of property and life insurance products. Zurich offers innovative, powerful and sustainable products and solutions for insurance, prevention and risk management from a single source. Reflecting its purpose to 'create a brighter future together', Zurich aspires to be one of the most responsible and impactful businesses in the world. About Cognizant Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

Read More