Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs), announced raises $60 million in series C round in equity funding from Zurich Insurance Group (Zurich), a leading global multi-line insurer.
With the $60 million investment, Cowbell intends to enhance cyber resilience services, expand its footprint in important international markets, launch new, cutting-edge goods to the market, and fortify strategic alliances in addition to scaling operations to meet rising demand.
The company intends to extend its technical infrastructure to achieve greater savings and assist faster policyholder and broker decision-making across traditional, digital, and API-driven channels by leveraging current advancements in AI and GenerativeAI (GenAI).
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Zurich’s investment in it demonstrates the company’s dedication to providing cutting-edge cyber security and resilience solutions to businesses, especially those in the SME and middle market segments where cyber risk is more prevalent than ever. It also fits with Zurich’s goal of addressing the growing complexity of cyber risk management by utilising best-in-class technology and knowledge.
Sierra Signorelli, CEO Commercial Insurance at Zurich said: “Cyber threats remain a major concern for business leaders due to their constantly evolving nature. To address this, we continue to invest in enhancing our cyber capabilities and building a strong support system for our customers. Cowbell is an excellent partner for managing cyber risks. They use a data-centric approach to risk management, provide continuous risk assessments, actively monitor threats, and have strong underwriting expertise. And all of this is centered around a highly advanced digital platform designed to boost cyber resilience for their customers.”
Jack Kudale, founder and CEO, Cowbell said, “This investment from Zurich is the strongest endorsement of Cowbell’s vision and capabilities yet and deepens our footprint in the global cyber insurance market. With a refined focus on product expansion, we will accelerate our efforts to deliver advanced and efficient cyber insurance solutions to SMEs and mid-market businesses globally, ensuring they have the protection and tools they need to navigate the rising threats in the evolving cyber landscape.”
With the growth of licensed producers nearly tripling in the previous two years, Cowbell’s broker-first strategy, reputation for its user-friendly platform, and successful education program for the broker community are garnering attention and trust on a global scale.
It’s commitment back into the business will see it double down on developments in AI and GenAI to provide greater transparency to cyber risk, with the company’s primary goal being better outcomes for clients. By doing this, Cowbell will help brokers and companies around the world make smarter decisions and improve cyber resilience requirements.
After a year of rapid technological growth, product and geographic expansion, and the onboarding of heavyweight industry professionals, Cowbell’s latest investment represents a significant turning point in the company’s fast-scaling path and strengthens its position in the global cyber insurance market.
About Cowbell
Cowbell is a pioneer of Adaptive Cyber Insurance, leading the way in providing small and medium-sized enterprises (SMEs) with coverage adaptable to today’s and tomorrow’s threats and the advanced warning of cyber risk exposures.
With its unique AI-based approach in risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue in less than 5 minutes.
