Cowbell continues expansion plans

Cowbell has announced plans to further expand its footprint in the UK market with a new senior appointment and launch of its AI-powered cyber insurance programme.

With more than half (54%) of SMEs in the UK having experienced some form of cyber-attack in 2022 - up from 39% in 2020 - the need for businesses in the UK to prioritise cyber resilience is urgent, Cowbell said.

Cowbell officially launched in the UK in the second quarter of this year, an operation spearheaded by Simon Hughes, vice president and general manager for the UK. Cowbell’s expansion now continues with the launch of its standalone cyber insurance programme, Cowbell Prime One. Tailored for SMEs and mid-market businesses, the data-driven technology offers underwriting at speed, allowing brokers to customise robust cyber policies for unique risk exposures, covering diverse cyber incidents, including email scams, ransomware, and social engineering.

The company has also appointed Catherine Aleppo as sales director. Bringing 18+ years of insurance industry experience to the table, she specialises in cyber risk insurance, most recently leading the cyber department at UK-based insurance brokers Aston Lark.

Reflecting on the recent updates within the UK arm, Hughes comments: "We are thrilled to welcome Catherine to our team and launch Prime One in the UK. Cowbell is committed to addressing cyber risk challenges on a global scale and our expansion into the UK is a testament to this.”

“Both the UK and US are technologically advanced nations with highly developed digital infrastructures and as a result, they can be attractive targets for cybercriminals,” said Aleppo. “Despite this, in general, UK-based SME businesses have been slower to adopt cyber insurance than their US counterparts, due to a lack of awareness and understanding of their cyber exposures.

“With this in mind, addressing the urgent need to protect UK SMEs sits at the heart of the Cowbell proposition, and I am delighted to be playing an instrumental role in realising this ambition, alongside a truly remarkable team. By utilising our vast risk pool and educating UK brokers, we will raise critical awareness of cyber vulnerabilities and safeguard the UK’s SMEs who form the backbone of the UK economy.”