Monday, June 17, 2024

Cowbell Adds Google Workspace to its Risk Rating Model for Cyber Insurance

Cowbell, the leading provider of cyber insurance for small and medium-sized enterprises (SMEs), today announced the launch of its Connector for Google Workspace. The connector allows access to inside-out data and real-time risk insights into Google’s collaboration and productivity applications within Google Workspace (e.g., Gmail, Google Calendar, Google Meet, Chat, Google Drive, Docs, Sheets, Slides, etc.). Cowbell is the first insurance provider to specifically incorporate Google Workspace security configuration data into its overall risk assessment model.

Real-time insights into cyber risk associated with email and collaboration tools in the cloud are critical as email remains one of the top attack vectors for cyber criminals to steal credentials and launch cyberattacks, including ransomware attacks, as found in Verizon’s 2022 Data Breach Investigations Report. Adding security configuration insights from Google Workspace enables Cowbell to reduce the frequency and severity of cyber incidents. At the same time, Cowbell policyholders receive high-value insights and greater insurability uniquely aligned to their technology deployments.

“Several million businesses in the U.S. use Google Workspace. We are proud of building a cyber insurance experience that incentivizes Google customers to be vigilant about the way they use the Google collaboration tools that enable their businesses to thrive,” said Jessica Newman, Director of Strategic Technology Alliances at Cowbell Cyber.

Cowbell Connectors enable policyholders and cyber insurance applicants to activate a connection to a given infrastructure – in this case, Google – to generate deeper insights into the risk profile of their organizations. The connector for Google Workspace is built on publicly available APIs from Google and security configuration data is accessed on a read-only basis following all security requirements from the publicly available APIs. Policyholders that utilize Google Workspace and activate the connector become eligible for a five percent premium credit.

The Google Connector adds to Cowbell’s already robust existing portfolio of connectors available to policyholders. Cowbell recently announced their Adaptive Cyber Insurance, which transforms cyber coverage from a static offering to a dynamic one, adaptable to today’s and tomorrow’s threats. Policies can now evolve more frequently than yearly to remain aligned with the policyholder’s cyber exposure, avoid coverage gaps and bring full transparency to renewal terms throughout the policy period. Getting access to inside-out data through connectors is critical to this new way of experiencing cyber insurance.

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