Partnership Helps Organizations Apply for Cyber Insurance and Assess Security Health for Insurability
Sophos, a global leader in innovating and delivering cybersecurity as a service, today announced that it has partnered with Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs) in the U.S. The partnership provides businesses with an easy way to access cyber insurance and will allow Sophos customers to directly share their security health information with Cowbell to better facilitate optimal premium quotes and policies.
“Specifically with this partnership, Sophos endpoint customers will be able to ‘opt-in’ to share with Cowbell their endpoint security health status from the Sophos Central platform, using a new data connector. This easy-to-enable connection will streamline Cowbell’s risk assessment process, allowing assessors to efficiently evaluate Sophos customers’ defenses against the requirements needed for insurance policies,” said Raja Patel, senior vice president of products at Sophos. “Ideally, the best cyber defense is to have proper protection, detection and response security already in place, but some organizations still need guidance on best practices. This partnership will enable Sophos and Cowbell to provide real-time feedback to our customers about how to improve their practices and risk profile, if needed. We’re excited to work with Cowbell to help forge this path for our customers and other SMEs.”
In addition to the connector between Sophos Central and Cowbell, which will be generally available in April, Sophos will facilitate access to Cowbell insurance through the Sophos Marketplace. Plus, companies can now explore Sophos Managed Detection and Response (MDR) via the Cowbell Marketplace, providing easy access to the world’s most trusted MDR service that currently protects more than 15,000 organizations.
Sophos research indicates that cyber insurance is a key factor when it comes to shoring up security, with 64% of U.S. organizations reporting that they implemented new technologies and/or services to improve their insurance position in the last year, and 57% increased staff training. However, as attacks continue to increase in complexity, 95% of U.S. small and mid-sized organizations cited in the research found their experience of securing cyber insurance coverage changed over the last year. Fifty-two percent reported that they needed a higher level of cybersecurity to qualify for coverage, while 44% said policies are now more complex, and 37% have found that fewer insurance providers are offering them coverage.
“Cowbell is committed to making it easier for SMEs to obtain cyber insurance as part of their overall cybersecurity strategy, particularly with the non-stop evolution of cyberattacks. Our partnership with Sophos supports this commitment, and together we are providing easy, direct access to our cyber insurance services, opportunities for dynamic risk assessment, solutions for improving risk profiles, and optimized premiums,” said Rajeev Gupta, chief product officer and co-founder at Cowbell. “Our partnership with Sophos will expand access to cyber insurance to SMEs, plus provide flexible options based on the size of the company and the coverage needed.”
To learn more about the partnership, visit the Sophos blog post, “Sophos Announces Partnership with Cowbell.”