Solution Provides Fast, Seamless Way for Agents to Quote Cyber for Small Commercial Market
Semsee, the leading automated small commercial quoting solution for agents, has partnered with Cowbell Cyber to offer agents the ability to quickly and efficiently quote standalone cyber coverage from its platform. With the increase in ransomware attacks and other threats to small and mid-sized businesses, the addition of cyber coverage provides an opportunity for insurance agents on Semsee’s platform to serve this growing market need.
Cowbell’s admitted cyber insurance programs are written on “A” rated paper and available in 40 states across the US to accounts up to $250 million in revenue. The firm provides artificial intelligence (AI)-powered cyber insurance which maps risk exposures to determine the probability of threats and impact on coverage types, enabling simple and fast policy underwriting and binding.
“The small business cyber insurance market is a big opportunity for agents—but there’s still a lot of education that needs to be part of the sale. The combination of Semsee’s quoting platform with Cowbell’s simplified underwriting process innovates and speeds the point-of-sale so that agents have more time to spend understanding their customers’ businesses and educating them on the risks and coverage,” said Philip Charles-Pierre, CEO, Semsee.
“Demand for standalone cyber coverage is increasing rapidly, especially in the current environment in which all businesses—regardless of size—are more reliant than ever on digital. Combine that with increasing publicity around attacks and breaches, and most businesses are realizing they need coverage. Agents have a unique opportunity in this market, but they need to move quickly,” said Dan Law, Director of National Accounts at Cowbell Cyber. “We’re delighted to partner with Semsee to innovate the sales process for agents and help them provide the right cyber insurance solutions at the right time to small and mid-sized enterprises.”