Relay welcomes Cowbell Cyber to the fast-growing list of carriers quoting on the innovative platform
New York, NY (Aug. 10, 2021) – Relay Platform, an innovative provider of solutions which enable the digital transformation of commercial insurance and reinsurance submissions, is pleased to welcome Cowbell Cyber to their fast-growing suite of carriers, Managed General Agents (MGAs) and reinsurers offering instant quotes through Relay. With Cowbell Prime 100 – Cowbell’s standalone, admitted cyber insurance program designed for businesses with up to $100 Million in revenue – available on the Relay Platform, agents and brokers can now offer instant quotes and best serve all clients for cyber coverage.
Relay is designed to facilitate the transition to data-first insurance placements, instant quoting, and superior broker-cedent connectivity to markets. Relay allows insurance brokers and agents to visualize coverage options for their clients, make well informed recommendations, and benefit from automated steps to present proposals to clients, overall increasing closing rates and simplifying renewals.
“The digital integration between Relay and Cowbell helps us fulfill our mission to make standalone cyber coverage accessible to all, including small and mid-size businesses,” says Erin Dyer, strategic account manager at Cowbell Cyber. “Relay’s digital approach augments our ability to distribute relevant and customized cyber policies at speed.”
Through Relay, Cowbell provides clients with a cyber policy that is tailored to the unique risk exposures of their organization. Cowbell Prime 100 delivers financial protection and coverage for a wide range of cyber incidents including network incidents, email scams, ransomware attacks, cybercrime, social engineering, and more. Cowbell Prime policies give policyholders access to numerous resources to improve their risk profile, including risk assessment, cybersecurity awareness training for employees, and access to risk engineering services.
“Relay I5 is attracting brokers, carriers and MGA-MGUs for its unique ability to unify questionnaires, handle both simple and complex placements, secure and combine quotes both electronically and manually, and assemble both a Competitive Differentiation Table and a Smart Client Proposal that converts more business,” says Edmund Lo, Head of Product & Engineering at Relay.
Both Cowbell Cyber and Relay Platform have been recognized by the insurance industry for bringing innovations to the market and are currently nominated by Insurance Insiders for the Disruptor of the Year Award.
About Cowbell Cyber
Cowbell Cyber is dedicated to providing standalone, admitted individualized, and easy-to-understand cyber insurance for businesses with up to $1 Billion in revenue. In its unique AI-based approach to risk selection and pricing, Cowbell’s continuous underwriting platform, powered by Cowbell Factors, compresses the insurance process from submission to issue to less than 5 minutes. Cowbell Insurance Agency is currently licensed in 50 U.S. states and the District of Columbia and provides SMEs with admitted cyber insurance. For more information, please visit https://cowbell.insure.
With Relay, brokers drastically increase their close rates by securing and comparing quotes and creating winning proposals faster, for both renewal and new business. Relay is the single-entry multi-carrier comparative-rating solution that can handle all P&C lines, across all mediums including both instant (“API”) and email quoting, at any level of complexity. Relay facilitated billions in bound coverage across insurance and reinsurance since launching in April 2020. With an exponentially growing client base in North America, Relay also counts among the few Lloyd’s accredited London market e-platforms, and recently launched its I5 Automated Proposal portal for Cyber and other P&C lines. For more information, please visit www.relayplatform.com.
Source: Relay PlatformTags: API, Cowbell Cyber, Quote and Bind, Real-Time, Relay