Cowbell, a leader in providing cyber insurance solutions for small and medium-sized businesses, has introduced a new innovation today: Prime Tech with Cowbell Co-Pilot, an AI solution aimed at streamlining underwriting processes. This groundbreaking development represents a major advancement in insurance technology, set to transform the way underwriters evaluate risk and improve decision-making speed.
Prime Tech: The Adaptive Cyber Insurance Solution
Prime Tech represents Cowbell’s adaptive cyber insurance offering, integrating its flagship Prime 250 cyber risk insurance with Technology Errors and Omissions (E&O) primary coverage. With Prime Tech, businesses gain comprehensive protection against cyber threats and technology-related liabilities, ensuring robust coverage tailored to their evolving needs.
Deepening Partnership with Obsidian Insurance Company
In a strategic move, Cowbell has strengthened its longstanding partnership with Obsidian Insurance Company, an A.M. Best rated “A-” excellent hybrid program carrier. This enhanced collaboration extends to include Tech E&O primary coverage, further solidifying Cowbell’s commitment to delivering cutting-edge insurance solutions. Bill Jewett, Chief Executive Officer of Obsidian, expressed enthusiasm about the expanded partnership, citing Cowbell’s dedication to client-centric solutions as a driving force behind their enduring collaboration.
Introducing Cowbell Co-Pilot: A Game-Changing AI Solution
Prime Tech’s key component is Cowbell Co-Pilot, an AI system integrated into the underwriting process. By using sophisticated algorithms and Large Language Models (LLMs), Co-Pilot speeds up contract reviews by pinpointing important clauses and terms, enabling underwriters to quickly make informed choices. Trent Cooksley, Chief Operating Officer and Co-Founder of Cowbell, stressed the importance of Tech E&O primary coverage in protecting businesses from new risks, highlighting Co-Pilot’s role in improving risk evaluation and communication.
The Benefits of Cowbell Co-Pilot
Cowbell Co-Pilot offers a multitude of benefits, including enhanced accuracy, augmentation of underwriting processes, improved communication, personalized recommendations, and increased speed. Rajeev Gupta, Chief Product Officer and Co-Founder of Cowbell, hailed Co-Pilot as a game-changer, poised to elevate productivity, efficiency, and precision within underwriting workflows.
About Cowbell and Obsidian
Cowbell is at the forefront of Adaptive Cyber Insurance, providing SMEs with coverage adaptable to today’s and tomorrow’s threats. Backed by a network of global (re)insurance partners, Cowbell’s AI-driven platform delivers seamless underwriting in under 5 minutes. Obsidian Insurance Holdings, Inc., formed in 2020, is an insurance holding company offering a diverse portfolio of property, casualty, and specialty insurance programs.
As Cowbell continues to redefine cyber insurance through innovation and collaboration, Prime Tech with Cowbell Co-Pilot stands as a testament to the company’s commitment to empowering businesses in the face of evolving cyber risks.
