Cowbell Cyber, a start-up that provides artificial intelligence-powered cyber insurance for small to medium-sized businesses (SMBs), has announced a partnership with FICO to add the FICO Cyber Risk Score to Cowbell Cyber’s own risk-rating factors, Cowbell Factors.
“For insurance providers, cyber risk selection and pricing based on company size and industry alone is not specific enough,” Cowbell said. “Evaluating risks related to the use of internet technologies should be done at a granular level to represent the diversity of usage, network footprint and security maturity. The market-leading FICO Cyber Risk Score powers Cowbell’s ability to compile risk indicators for each class of business and deliver risk ratings in real time and at scale for individual businesses requesting coverage.”
“Since day one, FICO has been instrumental in our ability to accelerate our co-to-market execution and produce Cowbell Factors at scale with accuracy for our underwriting efforts,” said Rajeev Gupta, co-founder and chief product officer at Cowbell. “As we roll out our product offering in other states, it is critical we have a stable and clear risk score, along with the supporting risk data to determine the insurability of our clients.”
“FICO Cyber Risk Score provides underwriting teams with a clear and accurate measure of the cyber risk of an organization,” said Julie May, vice president of cybersecurity solutions at FICO. “We are excited to strategically partner with Cowbell Cyber and its team to deliver a differentiated cyber offering to the SMB marketplace.”
