Cowbell, a provider of cyber insurance for small and medium-sized enterprises, has launched its UK operations. This announcement comes with the appointment of a cyber insurance expert, Simon Hughes, as General Manager of Cowbell UK.
Hughes has experience of over 13 years in the insurance industry as an underwriter. Hughes most recently served as the Cyber Team Lead at CFC Underwriting and has a deep understanding of cyber risk and insurance.
At CFC, Hughes was a senior member of the cyber team for six years, serving as a cyber underwriter and leader focusing on SMEs. He led the UK and EU cyber underwriting teams.
Hughes began his career at Lloyd’s in London and has since worked with reinsurers such as SOVAG and CFC Underwriting, a UK-based speciality insurer.
On his hire, Hughes said, “The cyber insurance industry needs to evolve at the same pace as the cyber threat landscape. I am delighted to join one of the most innovative companies in the market at a time when businesses in the UK and around the world are prioritizing cyber resilience.”
Matthew Jones, Chief Strategy Officer at Cowbell maintained that the company’s goal is to close the insurability gap and make cyber insurance accessible to all businesses regardless of geographical boundaries. He also commented on Hughes’s hire, “Simon brings the expertise to roll out to the UK the adaptive cyber insurance products that we have successfully validated in the U.S., underpinned by our continuous risk assessment approach.”
Cowbell has recently grown its risk pool internationally to 35 million SMEs, allowing the company to pre-assess risk and deliver coverage at speed while maintaining an accurate underwriting process. Cowbell’s risk pool also contributes to maintaining proactive visibility in the macro-level cyber threat landscape in the SME market.
Cowbell 365, was launched last year and offers policyholders comprehensive support for risk improvement and incident response. The company has also introduced Cowbell’s Adaptive Cyber Insurance which offers policies that evolve to remain aligned with the policyholder’s cyber exposures, avoid coverage gaps and bring transparency into renewal terms throughout the policy period.
Cowbell is a pioneer of Adaptive Cyber Insurance, a company that provides small and medium-sized enterprises (SMEs) coverage. It has an AI-based approach to risk selection and pricing, and Cowbell’s continuous underwriting platform is powered by Cowbell Factors. Cowbell is backed by 20 prominent global re/insurance partners and serves SMEs globally.