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Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs), has launched Prime Tech with Cowbell Co-Pilot, an artificial intelligence (AI) solution designed for efficient underwriting. Prime Tech combines cyber risk insurance with Technology Errors and Omissions (E&O) primary coverage, aiming to help underwriters assess risk more effectively and provide valuable insights for quicker decision-making. This innovative offering is a result of Cowbell's partnership with Obsidian Insurance Company, a highly rated carrier, and is available to businesses with up to $250M in revenue in the US, offering limits of up to $5M.
The introduction of Prime Tech with Co-Pilot marks a significant advancement in the insurtech industry, particularly in the realm of cyber insurance for SMEs. By leveraging generative AI and Large Language Models (LLMs), Cowbell Co-Pilot streamlines the underwriting process by expediting contract reviews and providing crucial insights to underwriters. This not only enhances accuracy in risk assessment but also improves communication between stakeholders and speeds up the overall underwriting process. The collaboration between Cowbell and Obsidian signifies a commitment to offering comprehensive insurance solutions tailored to the evolving needs of technology companies, showcasing a forward-thinking approach to addressing emerging risks in the digital landscape.
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