Cowbell launches cyber resiliency services for SMEs

Cowbell, a provider of cyber insurance for small and medium-sized enterprises (SMEs) and middle-market businesses, has launched a new Cowbell Resiliency Services (CRS) unit in response to a rise in the frequency, severity, and diversity of cyber threats as a complement to its existing risk management programme.

Cost of data breach

Driven by AI advances and an increasingly complex geopolitical landscape, recent reports show the average global cost of a data breach has reached $4.88m, a 10% increase over last year and the highest total ever. 

The average in the U.S. is even higher, amounting to $9.36m. Tech giants, such as Microsoft, say their clients face 600 million attacks daily from cybercriminals and nation-state threat actors.

Risk management

CRS leverages existing AI learning tools with advanced cybersecurity services

Recognising these challenges, Cowbell has strengthened its risk management offering to policyholders.

CRS leverages existing AI learning tools with advanced cybersecurity services to provide businesses with the most up-to-date insights and learning needed to defend against emerging threats while minimising financial and operational risks. 

New subscription-based cyber resiliency services

CRS expands Cowbell’s risk management portfolio with four new subscription-based cyber resiliency services: 

• Cowbell MDR SOC-as-a-Service, powered by SpearTip, a company of Zurich Resilience Solutions, delivers a 24/7/365, U.S.-based Security Operations Center (SOC), staffed with certified, experienced engineers and analysts, providing real-time threat detection and AI-driven counterintelligence. The service integrates with diverse data sources to allow comprehensive visibility. It leverages continuously updated detection rules, advanced prevention technologies, and real-time response capabilities to defend against sophisticated threats like ransomware.

• Cowbell Penetration Testing-as-a-Service (PTaaS)powered by GMI, delivers comprehensive internal and external network assessments to identify and address vulnerabilities. Using tools such as Nessus, Metasploit, and BurpSuite, the service combines automated and manual techniques to perform reconnaissance, vulnerability exploitation, and penetration testing across network infrastructures, servers, workstations, and websites. Clients receive detailed findings and remediation recommendations through tailored reports and collaborative review sessions.

• Cowbell Cybersecurity Training-as-a-Service (CTaaS) powered by Wizer, a specialist in security awareness training, offers access to 100+ microlearning videos, quizzes, and progress reports. The programme includes smart phishing simulators and interactive games to educate employees on identifying and mitigating cyber threats. By enhancing employees' cybersecurity awareness and response capabilities, the service aims to reduce human errors that often lead to cyberattacks, such as ransomware.
• Cowbell IdentityAI℠, powered by SpearTip, monitors user access to cloud services such as Microsoft 365, Salesforce, Amazon CloudTrail, Duo, Okta, and Google Workspace. IdentityAI is available to Cowbell policyholders as part of a complimentary 30-day trial subscription. The recent high-profile Zero-Day Microsoft 365 Vulnerability: FastHTTP, was first discovered by the SpearTip Security Operations Center team leveraging IdentityAI. 

New enhancements

Available to U.S.-based policyholders, Cowbell has also announced enhancements to existing advisory services, offered at no additional cost.

• Micro Penetration Testing: Preliminary penetration tests that uncover hidden system weaknesses before adversaries can exploit them.
• Phishing Simulation and Cybersecurity Training for New Policyholders: Advanced phishing simulations that mimic real-world attack methods to train employees to spot and avoid social engineering tactics.
• Cyber Risk Insights and Recommendations: Comprehensive scans and diagnostics to quickly identify potential vulnerabilities, coupled with recommendations on remediation.
• Cowbell Factors: Continuous risk assessment of networks, endpoints, and cloud environments ensuring any anomalies or threats are flagged in real-time.
• Cowbell Connectors: Quick and seamless integration with leading security and IT platforms, enabling real-time risk scoring and insights.
• Cowbell Spotlight: An on-demand surveillance of actively exploited vulnerabilities that has the potential to impact policyholders during widespread cyber events. 

Rajeev Gupta, co-founder and chief product officer, at Cowbell, shares his thoughts on CRS, “U.S. businesses are encountering a huge rise in sophisticated cyber threats."

Enhancing cybersecurity

"AI has empowered cybercriminals to execute more adaptive and scalable attacks, such as advanced malware and automated phishing attempts, while at the same time, geopolitical conflicts are increasingly manifesting in cyberspace, amplifying risks to critical U.S. infrastructure and national security."

“Through CRS, we’re able to provide our policyholders with consistent and cost-effective access to an MDR service, Identity Monitoring, Penetration testing, and Cybersecurity training; all of which offer advanced capabilities that will significantly enhance their cybersecurity posture, without requiring costly in-house resources.”

Enhanced cyber coverage with MDR endorsement

Eligible policyholders may qualify for a deductible waiver for the Cowbell Breach Fund when MDR SOC is implemented

Cowbell has integrated its Cowbell MDR solution into select Cyber and Tech E&O policies, providing policyholders with advanced cybersecurity defences and the added benefits of enhanced coverage through a Cowbell MDR endorsement.

Eligible policyholders may qualify for a deductible waiver for the Cowbell Breach Fund when MDR SOC is implemented across all endpoints before an incident. The Cowbell Breach Fund provides expanded coverage for critical services and expenses such as forensics, notifications, identity monitoring, incident response, and crisis management.

Cowbell Rx marketplace for expanded choice

Cowbell will continue to offer complimentary discounts on partner solutions through Cowbell Rx Marketplace, providing expanded choice and protection to policyholders.

Cowbell Rx Marketplace features 40+ partners and includes the newly announced CRS solutions.