Cowbell has launched Prime One Tech in the UK, a professional indemnity and cyber insurance solution for technology companies with annual revenues of up to £1bn.
The product offers professional indemnity and cyber coverage with limits of up to £5m.
Prime One Tech integrates the company’s Prime One cyber programme, offering professional indemnity coverage for tech entities.
It is supported by Cowbell Co-Pilot, a genAI tool aimed at streamlining underwriting workflows, with the potential to reduce contract review time by up to 40%.
This represents Cowbell’s first step beyond stand-alone cyber insurance in the UK market, the insurer said in a statement.
Prime One Tech aims to address the specific needs of technology companies and demand from brokers for solutions that cover the risks faced by the sector.
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By GlobalDataThe coverage includes professional indemnity, cybercrime, loss of data or documents, breach of contract and intellectual property infringement.
Additionally, it covers subcontractors, cyber first and third party, media liability, mitigation costs and unpaid invoices.
Furthermore, Cowbell provides in-house claims responsibilities for UK policyholders.
Prime One Tech policyholders can access Cowbell’s platform, which offers risk assessment, insights and training tools.
Cowbell Factors assesses cyber risk across eight categories, using data from 47 million businesses in the UK, US and Japan to optimise premiums for organisations with risk profiles.
The platform provides real-time threat alerts, recommendations and 12 months of free training after policy inception.
Cowbell UK Underwriting & Distribution RVP Claud Bilbao said: “With Prime One Tech, we are delivering exactly that: a comprehensive, adaptive solution covering risks like data breaches, software failures, cyber loss and liability, empowering technology companies to thrive with confidence.
“Looking ahead, our experienced team of underwriters are looking forward to deepening relationships with brokers who specialise in technology accounts and further developing our digital distribution capabilities to better serve the UK market.”
Cowbell received $60m funding from Zurich Insurance Group last year in a Series C round.
