Cowbell recently introduced its operations in the U.K., according to a press release. In correlation with the expansion, the cyber insurance provider has also appointed Simon Hughes as general manager of the region.
"We are relentless in our mission to close the insurability gap and make cyber insurance accessible to all businesses regardless of geographical boundaries," chief strategy officer at Cowbell, Matthew Jones, said. "Simon brings the expertise to roll out to the UK the adaptive cyber insurance products that we have successfully validated in the U.S., underpinned by our continuous risk assessment approach."
With more than 13 years of insurance experience, Hughes will contribute a combination of U.S and U.K.-based experience. He is credited with driving success at Lloyd's of London, the multi-national reinsurer SOVAG and CFC Underwriting. He most recently served as the cyber team lead at CFC Underwriting.
"The cyber insurance industry needs to evolve at the same pace as the cyber threat landscape," Hughes said. "I am delighted to join one of the most innovative companies in the market at a time when businesses in the UK and around the world are prioritizing cyber resilience."
To further strengthen its cyber insurance capabilities, Cowbell also opened a new technology center in Pune, India. Specializing in small and medium-sized enterprises, Cowbell’s global risk pool has now grown to 35 million SMEs, enabling the company to review risk and deliver accurate coverage at a significant speed, “maintaining proactive visibility into the macro-level cyber threat landscape in the SME market.”
By carrying out these expansion initiatives, such as the launch of its Cowbell 365 program, which offers policyholders comprehensive services to respond to improvement and incident, as well as the launch of Adaptive Cyber Insurance, the company hopes to continue evolving in line with the policyholder's cyber exposures to promote clear renewal terms and reduce coverage gaps.
“Cowbell continues to attract expert talent in cyber insurance to drive innovation and pave the way for modern cyber insurance that boosts adoption and matches the risk covered,” the press release states.