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Cowbell Factor for Supply Chain Debuts

November 22, 2021

Cowbell Cyber has expanded its continuous cyber risk assessment with the introduction of a new Cowbell Factor to quantify risk exposures related to the software supply chain. With Cowbell Factor for Supply Chain, Cowbell gains visibility into individual and aggregated risk attached to specific software. This results in further precision in Cowbell’s continuous risk assessment and AI-assisted underwriting process.

The accelerated digitization of business processes has created hidden dependencies on software and systems used to run operations online, resulting in a significant increase in risks related to the software supply. With the SolarWinds attack resulting in nearly 18,000 compromised customers and the Microsoft Exchange breach potentially infiltrating nearly 400,000 servers, these numbers showcase just how many accounts can be impacted during a supply chain attack.

With Cowbell Factor for Supply Chain, Cowbell brings visibility and insights into supply chain risk by comparing it to the company’s robust risk pool of more than 17 million U.S. businesses. Cowbell provides individual businesses with a relative indication of their risk exposure during the underwriting process and immediately notify and rate accounts for past, current and future attacks on the software supply chain.

“Cowbell Factor for Supply Chain is automatically used in risk selection and made available for underwriting,” said Rajeev Gupta, co-founder and CPO at Cowbell Cyber. “Underwriters no longer have to wait for damages from an exploited vulnerability to be visible in the market to adjust guidelines or understand the ripple effects on covered risks.”

“Gaining immediate visibility into an organization’s exposure to software supply chain risks brings another degree of precision to underwriting,” said Caroline Thompson, Head of Underwriting at Cowbell Cyber. “The additional insights drive better risk selection, allow us to work with policyholders to remediate security weaknesses and also do it with speed as we scale up our client base.”

Cowbell Factors is a set of proprietary multivariate risk ratings based on inside-out and outside-in data, libraries of insurable threats, and artificial intelligence that contribute to the evaluation of an organization’s cyber risk—and appropriate insurance coverage. The Cowbell Cyber platform automatically presents brokers and policyholders with the most relevant coverages and policy configuration that match an organization’s insurable cyber risks. Unlike traditional methods, Cowbell Factors apply continuous observation to map exposure and impact. Current factors include assessments on network security, cloud security, endpoint security, funds transfer fraud, cyber extortion, dark intelligence, compliance and supply chain.

Continuous risk assessment and instant quoting with precise AI-assisted underwriting, bring unmatched efficiencies in the distribution of cyber insurance and has allowed Cowbell to grow its policyholder base 40 times since the beginning of the year while reported claims remained under 1%.

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