Cowbell Cyber, which offers AI-powered cyber insurance for small to mid-sized businesses (SMBs), has forged partnership with digital broker Mylo.

The tie-up will help Cowbell Cyber to scale up the distribution of Cowbell Prime, its standalone cyber insurance programmes, to the small business market.

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Cowbell Prime is said to address the challenges faced by small businesses. These include clarity of the policy terms, relevancy, admitted program and free risk assessment and mitigation tools that add value to small business.

Cowbell Cyber National Accounts head Dan Law said: “We are excited to partner with Mylo to deliver on the promise of customized cyber coverage and easy-to-use risk management tools for their expanding client base.

“Partnering with Mylo will allow us to better distribute cyber insurance to the currently underserved markets, ultimately helping customers with their cyber resilience.”

Meanwhile, the partnership Cowbell Cyber will provide significant efficiencies to Mylo’s agents, including capability to prepare multiple, customized quotes in a few clicks.

Mylo COO Belen Tokarski said: “As an advocate for small business owners, we care about helping them prepare for a cyberattack that could threaten everything they’ve worked so hard to build.

“Mylo and Cowbell Cyber are a great fit because we both focus on using technology to give businesses the protection they need to anticipate and recover from serious risks.”

In September this year, Cowbell Cyber rolled out its first cyber insurance programme, dubbed Prime 250, to offer a range of coverages to address the diversity of incidents under cyber category.

Previously, the firm incorporated new enhancements to its cyber insurance platform to enable it to carry out larger risk underwriting with more ease, accuracy and increased speed.