Cowbell, a prominent provider of cyber insurance tailored for small- and medium-sized enterprises (SMEs), has announced a strategic partnership with Zywave, a leading insurtech solutions provider.
This groundbreaking collaboration is facilitated by Herald, a digital infrastructure provider connecting software developers to commercial insurance carriers through a unified API.
It leverages Cowbell’s cutting-edge technology and personalised coverage options to deliver an enhanced customer experience via Zywave’s user-friendly API-first interface, designed for quoting commercial and E&S (Excess and Surplus) insurance.
Notably, this marks the introduction of the first standalone cyber insurance offering on Zywave’s Hub, a platform that accelerates access to modernized cyber insurance products for Managing General Agents (MGAs), wholesale brokers, and retailers.
Despite the rapid growth of cyber insurance in recent years, a recent report by small business resource AdvisorSmith revealed that four out of five SMEs remain either uninsured or underinsured against cyber risks.
By partnering with Zywave, Cowbell aims to extend its reach within the MGA and brokerage sectors, further promoting the adoption of cyber insurance among SMEs.
Rajeev Gupta, co-founder, and CPO of Cowbell, expressed the significance of this partnership, stating, “As the first cyber insurance provider integrated into Zywave’s Hub through Herald’s API, our adaptive insurance programs are now accessible to over 40 additional trading partners. These partners can now benefit from the ease of offering the industry’s finest cyber insurance coverage to their clients while safeguarding their clients’ future cyber risks with Cowbell’s tailored risk mitigation service.”
Duncan Crystal, co-founder, and CRO at Herald, emphasised the transformative potential of this collaboration, stating, “This is an exceptionally powerful partnership between the most innovative leaders in the industry. Together, we’re showcasing how API-driven distribution can revolutionise an industry that traditionally operated on paper. Our unified offering simplifies the process for carrier partners to connect with networks of brokerages and MGAs, resulting in increased premiums for all stakeholders in the value chain, alongside enhanced coverage options for businesses.”