Originally posted here: https://www.prnewswire.com/news-releases/cowbell-partners-with-zywave-expanding-the-di[…]tion-of-its-industry-leading-cyber-insurance-301925491.html
PLEASANTON, Calif. — September 12, 2023 – Cowbell, a leading provider of cyber insurance for small- and medium-sized enterprises (SMEs), today announced its partnership with Zywave, an industry-leading provider of insurtech solutions. The partnership is powered by Herald, a digital infrastructure provider that connects software developers to commercial insurance carriers through a single API, and leverages Cowbell’s leading technology and individualized coverage options for a superior customer experience through Zywave’s expanding, simple and efficient, API-first interface for quoting commercial and E&S insurance. The collaboration marks the first standalone cyber insurance offering on Zywave’s managing general agent (MGA) Hub and provides MGAs, wholesale brokers, and retailers, with quicker access to modernized cyber insurance products.
Despite cyber being the fastest-growing line of insurance business in recent history, four out of five SMEs are still uninsured or underinsured, according to a recent report published by the small business resource AdvisorSmith. By partnering with Zywave, Cowbell extends its reach within MGAs and brokers and helps further accelerate the adoption of cyber insurance within the SME market.
“As the first cyber insurance provider on Zywave’s MGA Hub via Herald’s API, our adaptive programs are now available to over 40 additional trading partners,” said Rajeev Gupta, co-founder and CPO of Cowbell. “These partners can now experience the simplicity of placing the industry’s best cyber insurance coverage for their clients, and protecting their clients’ future cyber risks with Cowbell’s tailored risk mitigation service.”
The ability to adapt to ever-changing market conditions in almost real-time allows capacity providers like Cowbell to expand or contract the markets they serve without being hindered by manual processes and antiquated technology. Expanding Zywave’s offerings through Cowbell’s advanced technology and quality insurance programs ushers in a new and improved way for brokers to sell cyber insurance to their clients.
About Cowbell
Cowbell is a pioneer of Adaptive Cyber Insurance, a leader in providing small and medium-sized enterprises (SMEs) coverage adaptable to today’s and tomorrow’s threats and the advanced warning of Cyber risk exposures. 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 issuance in less than 5 minutes. Cowbell is backed by 20 prominent leading global (re)insurance partners and serves SMEs in 50 U.S. states and the District of Columbia. Founded in 2019, Cowbell is based in the San Francisco Bay Area with employees across the U.S., Canada, India, and the UK. For more information, please visit https://cowbell.insure/.
About Herald
Herald builds digital infrastructure for commercial insurance. Developers who use Herald quote and bind insurance from multiple carriers through a single API. For more information, visit https://heraldapi.com.
About Zywave
Zywave leads the insurtech industry, fueling business growth for its partners with cloud-based sales management, client delivery, content, and analytics solutions. Zywave’s all-in-one platform provides customizable, user-friendly options that enable insurance professionals to build a unique solution to fit their specific growth goals—their own Modern RevOps Machine. More than 15,000 insurers, agencies, and brokerages worldwide—including all of the top 100 U.S. insurance brokerages—use Zywave solutions to enhance client services, achieve business growth and promote greater health, wellness, risk management, and safety. Additional information can be found at www.zywave.com.
Media Contacts
John Kreuzer
Lumina Communications for Cowbell
Cowbell@LuminaPR.com
+1.408.963.6418
April Larsen
Zywave
April.larsen@zywave.com
+1.414.918.0547
Duncan Crystal
Herald
duncan@heraldapi.com
+1.781.799.1165
For general information, reach out to hello@heraldapi.com