Cowbell, the cyber insurance provider catering to small and medium-sized enterprises (SMEs), has introduced a new collection of capabilities called MooGPT, which utilises large language models and proprietary data.
MooGPT employs reinforcement learning techniques to offer real-time conversational experiences to appointed agents and active policyholders throughout the policy lifecycle.
MooGPT enhances Cowbell’s existing AI-powered underwriting assistant, Moo, which is designed to provide precision in risk selection and pricing for similar risks. It assists brokers and policyholders by offering on-demand guidance on risk assessment, non-binding premium indications, and information on the claims process.
Additionally, MooGPT provides policyholders with security awareness, incident response planning, risk improvement recommendations, Cowbell Academy content, and incentives from Cowbell Rx marketplace.
Cowbell offerings expanding globally
Cowbell is known for its adaptive cyber insurance approach and is supported by 20 global (re)insurance partners. It serves SMEs in 50 states and the District of Columbia, with employees located across the US, Canada, India, and the UK. The company, founded in 2019, is headquartered in the San Francisco Bay Area.
It’s latest AI driven solution provides:
- Cowbell Insights, individualised cybersecurity recommendations automatically generated for SMEs to help improve cyber risk posture and strengthen cyber resilience
- Cowbell Connectors and the modelling of over 3,000 risk signals collected from Microsoft 365, AWS, Google Workspace, Google Cloud, and other commonly used technology and cybersecurity solutions
- Moo, Cowbell’s AI-based underwriting assistant, automatically underwrites similar risks based on a collection of rules that evolve dynamically with cyber threats. Moo also equips underwriters with granular, organised insights that streamline risk selection and pricing for more complex risks.
Cowbell’s AI-powered capabilities, including Cowbell Factors (proprietary risk ratings), Cowbell Scanners (automated bots for collecting and normalising signals from an organisation’s internet-facing footprint), Cowbell Insights (individualised cybersecurity recommendations for SMEs), and Cowbell Connectors (modelling of risk signals from various technology and cybersecurity solutions), are core to delivering adaptive cyber insurance.
Moo, Cowbell’s AI-based underwriting assistant, automatically underwrites risks based on a collection of dynamically evolving rules in response to cyber threats. It equips underwriters with organised insights to streamline risk selection and pricing for complex risks.
AI and its transformative potential
Rajeev Gupta, co-founder and CPO at Cowbell, highlighted the transformative potential of generative AI in the cyber insurance ecosystem, stating that MooGPT will increase productivity and efficiency for broker partners and policyholders. MooGPT is set to be available to appointed brokers and active policyholders in the summer.
He said: “Generative AI is a transformative technology with the promise to bring higher efficacy to the cyber insurance ecosystem. With MooGPT, our broker partners and policyholders will benefit from increased productivity and efficiency gains. MooGPT further enhances Cowbell’s quoting, binding, issuance, and risk improvement experience.”
Main picture: Jack Kudale – CEO of Cowbell
