In collaboration with Cowbell, the new “PrimeOne” cover uses AI for the underwriting, quoting and binding of applications, making the process take under five minutes.
“Cyber protection shouldn’t be complicated; it should give businesses confidence to keep moving,” said Jack Kudale, founder and CEO at Cowbell.
“By partnering with Zurich, we’re offering Australian organisations a dependable foundation for cyber resilience, supported by Cowbell’s continuous underwriting, risk intelligence, and proven track record in managing cyber risk.”
PrimeOne is a standalone cyber insurance program designed for small to medium businesses and is available through Australian licensed insurance brokers that have up to $100 million in annual turnover.
With the Cowbell partnership, policyholders have local support and global cyber assistance.
Policy coverage is available with limits up to $5 million, and the continuous assessment process allows brokers to decipher any indicators of cyber coverage in the context of calculating coverage, and can identify any cyber control improvements that can be made.
“With standalone cyber cover reaching only 20 per cent of Australian SMEs, brokers are looking for clarity they can trust and support that helps them reach the other 80 per cent,” said Simon Hughes, chief commercial officer at Cowbell.
“Prime One delivers that clarity and coverage that’s easy to explain, backed by the quiet, steady confidence Cowbell brings to every global market we serve.”
According to Alex Morgan, head of general insurance at Zurich, the latest launch expands on existing partnerships between it and Cowbell overseas.
“This launch builds upon an existing partnership between Zurich and Cowbell in the United Kingdom and United States, which has seen thousands of businesses protected against key cyber risks. We look forward to extending the success and learnings from these markets to businesses in Australia,” he said.
