Cowbell Cyber, a provider of cyber insurance for small and medium-sized enterprises (SMEs), launches today its Cyber Risk Heatmap. The Heatmap – a data-rich and dynamic evaluation of cyber risk portfolios – provides all Cowbell’s agencies and brokers, insurance and reinsurance partners, and underwriters with visibility into the distribution of covered risk in their portfolios. This improved visibility allows Cowbell and its partners to develop a balanced book of business, manage growth for profitability and improve the overall risk profile of each portfolio.
According to Cowbell’s recent research, 71 percent of policyholders want their cyber insurance provider to give recommendations to minimize risk exposure. The complexity of continuously assessing cyber risk at the portfolio level and at the individual account level results in blind spots in risk selection. Cowbell removes these blindspots at the portfolio level for all stakeholders. This reduces the frequency and severity of reported claims. Cowbell’s monitored risk pool now encompasses 24 million SMEs – 75 percent of the overall U.S. SME market.
The Heatmap is powered by Cowbell Factors, a set of risk rating factors that assess the organization’s cyber risk in real-time and then automatically is matched to the most relevant coverage for the business. The underlying technology comes from Cowbell’s Cyber Risk Framework which incorporates security controls from multiple standards including the NIST Cyber Security Framework, COBIT, the Payment Card Industry Data Security Standard (PCI DSS), and the recently revised NIST Cybersecurity Supply Chain Risk Management (C-SCRM) program – augmented by Cowbell’s proprietary controls.
Cowbell’s Cyber Risk Heatmap is available to Cowbell’s 16,000 agency producers at no cost and is updated on a continuous basis to include the latest risk profile data to ensure accuracy. To learn more, visit https://cowbell.insure/cyber-risk-heatmap/
