Cowbell Cyber has introduced a partnership with Swiss Re to deliver cyber insurance coverage protection to enterprises with as much as $750 million in income which can be constructing their digital footprint on Amazon Net Companies (AWS).
Cloud adoption continues to develop, spurred by the rise in distant and hybrid work. As firms digitize their operations, worldwide spending on public cloud companies is predicted to develop greater than 20% and attain $494.7 billion this 12 months. With that in thoughts, Cowbell and Swiss Re have mixed their respective cyber danger experience – insurance coverage provision by Cowbell and danger monitoring expertise developed by Swiss Re – to supply custom-made coverages to organizations operating in cloud environments.
“The world is digitizing quick, and cyber insurance coverage must sustain,” mentioned Jack Kudale, founder and CEO of Cowbell. “The partnership between Cowbell and Swiss Re is targeted on bringing peace of thoughts to enterprises who’re actively establishing their footprint within the cloud. Our partnership brings collectively a wealth of cyber danger experience and allows us to ensure policyholders are well-protected with correct insurance coverage coverages which can be particularly tailor-made to cloud environments.”
The partnership grants prospects entry to Cowbell Components, which offers a relative score of a company’s danger profile towards a monitored pool of 25 million US companies, which represents 78% of US SMEs. This system additionally options Cyber Guardian, Swiss Re’s cyber danger expertise platform, which makes use of safety configuration information instantly from the shopper’s AWS setting to permit danger monitoring and danger scoring utilized in underwriting. A credit score towards a subscription to AWS Safety Hub can be included as a part of this system.
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“Cyber resilience is a subject of rising concern globally, and an growing share of the digital economic system is now reliant on the cloud,” mentioned Pranav Pasricha, international head of P&C options at Swiss Re. “That’s why Swiss Re is dedicated to closing the safety hole and driving innovation within the insurance coverage trade. We’re happy to announce a brand new class of cyber insurance coverage merchandise and danger evaluation platform for AWS prospects. Our platform will supply lively telemetry, steady monitoring, and cloud sensitivity, giving our companions the power to supply progressive insurance coverage merchandise to SMEs.”
Along with providing cyber insurance coverage protection, this system gives steady steerage to prospects on easy methods to deploy cybersecurity greatest practices in a cloud setting and offers instruments to observe publicity to cyber threats. Cowbell’s in-house staff of cyber claims specialists will deal with all cyber incidents, and a 24/7 incident response hotline is offered to all policyholders.