Reinsurance News

Cowbell Cyber launches the Cyber Risk Heatmap

30th May 2022 - Author: Pete Carvill

Cowbell Cyber has launched the Cyber Risk Heatmap.

According to the firm, this new feature will provide all of Cowbell’s agencies and brokers, insurance and reinsurance partners, and underwriters with immediate visibility into the distribution of covered risk in their portfolios.

Rajeev Gupta, co-founder, and chief product officer at Cowbell Cyber, said: “In a world where cyber insurance is becoming harder to obtain due to the volatile nature of cyber risks, Cowbell Cyber Heatmap allows us and our partners to quickly analyse the standing of any insurance book of business. The innovation Cowbell has brought to the cyber insurance landscape has, once again, allowed us to remain steadfast in our approach to properly assess and cover risk in the most rigorous manner.”

The Heatmap is powered by Cowbell Factors, a set of risk rating factors that assess the organization’s cyber risk in real-time and then automatically matched to the most relevant coverage for the business. The underlying technology comes from Cowbell’s Cyber Risk Framework which incorporates security controls from multiple standards including the NIST Cyber Security Framework, COBIT, the Payment Card Industry Data Security Standard (PCI DSS), and the most recently revised NIST Cybersecurity Supply Chain Risk Management (C-SCRM) program.

Cowbell’s Cyber Risk Heatmap is available to all of its 16,000 agency producers at no cost and is updated on a continuous basis to include the latest risk profile data to ensure accuracy.

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This latest story is even more Cowbell on the pages of Reinsurance News. In March, the firm picked up $100m in capital, an investment led by Anthemis Group with participation from Permira Funds, PruVen Capital, NYCA Partners, Viola Fintech and all existing investors. It also appointed Kara Owens as chief insurance officer in March, teamed up with Smart Choice in February, and appointed Joshua Chan at CTO.

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