Cowbell, a provider of cyber insurance for small and medium-sized enterprises and middle-market businesses, has introduced Cowbell Resiliency Services (CRS), a new unit aimed at addressing the growing frequency and complexity of cyber threats.
CRS complements Cowbell’s existing risk management program by integrating cybersecurity services with AI-driven insights.
Reports indicate that the average global cost of a data breach has reached $4.88 million, a 10% increase from the previous year.
In the US, the average is higher at $9.36 million. According to Microsoft, cybercriminals and nation-state actors now launch 600 million attacks daily against clients.
To address these challenges, CRS incorporates AI learning tools and cybersecurity services designed to help policyholders manage emerging cyber risks.
CRS introduces four subscription-based cyber resiliency services, namely Cowbell MDR SOC-as-a-Service, which provides a 24/7 US-based security operations center with threat detection, AI-driven counterintelligence, and real-time response capabilities; Cowbell Penetration Testing-as-a-Service, which conducts network assessments to identify and address vulnerabilities through automated and manual testing techniques; Cowbell Cybersecurity Training-as-a-Service, which includes security awareness training, phishing simulators and interactive tools aimed at educating employees on cyber threats, and Cowbell IdentityAI, which monitors user access to cloud platforms, such as Microsoft 365, Salesforce and Google Workspace.
Cowbell has also expanded its advisory services for US-based policyholders at no additional cost, including micro penetration testing, phishing simulations, cyber risk assessments, real-time risk monitoring and integration with IT security platforms.
“US businesses are encountering a huge rise in sophisticated cyber threats,” said Rajeev Gupta, co-founder and chief product officer at Cowbell. “AI has empowered cybercriminals to execute more adaptive and scalable attacks, such as advanced malware and automated phishing attempts, while at the same time, geopolitical conflicts are increasingly manifesting in cyberspace, amplifying risks to critical US infrastructure and national security.”
Cowbell also said it has incorporated its MDR solution into select Cyber and Tech E&O policies. Policyholders using MDR SOC across all endpoints before an incident may qualify for a deductible waiver under the Cowbell Breach Fund, which provides coverage for forensic investigations, notifications, identity monitoring, incident response, and crisis management.
Cowbell will continue offering partner discounts through the Cowbell Rx Marketplace, which features more than 40 partners and includes CRS solutions.