AI-powered insurtech Cowbell Cyber has partnered with broker platform Sayata to provide quoting for cyber coverage through a digital process to help increase the speed at which cyber policies can be issued.
The partnership is set to provide quotes for cyber coverage using direct application programming interface integration to Cowbell’s platform.
Cowbell enables a streamlined end-to-end flow of information that supports instant quoting, automated underwriting and policy issuance of Cowbell Prime 100.
Erin Dyer, manager of strategic accounts at Cowbell Cyber, said: “Applicants immediately benefit from the wealth of risk management resources that makes Cowbell Cyber a true business partner for those proactively seeking to reduce their cyber risk exposures.”
Asaf Lifshitz, CEO at Sayata, added: “Both Sayata and Cowbell are committed to helping brokers and, by extension, commercial insureds find the coverage they need to best manage cyber risk. This partnership helps our broker partners do just that with an expanded cyber offering that’s crucial for navigating this hard market.”
Last month, Cowbell announced a multi-year strategic partnership with Palomar Excess and Surplus Insurance Company to further enhance its offerings on a non-admitted basis nationwide.
The multi-year agreement with Palomar is backed by global reinsurance providers rated A or higher by AM Best.
It adds to the current carriers and reinsurers already supporting Cowbell’s portfolio of standalone cyber insurance programs, extending distribution to businesses with up to $250mn in revenue with limits up to $5mn.