Cowbell Enters Australia With AI-Driven Cyber Cover for SMEs: What Insurance Pros Need to Know
Cowbell has launched Prime One in Australia, a cyber insurance program built for SMEs with up to A$100 million in annual revenue. Backed by Zurich Australian Insurance Ltd, the program combines local capacity with Cowbell's AI-led underwriting and claims handling.
For brokers, the promise is speed and clarity: quote, bind, and issue in under five minutes with limits up to A$5 million per claim. The play is simple-make cyber easier to sell and easier to use, while improving client resilience.
At a glance
- Capacity and support: Long-term, exclusive agreement with Zurich Australian Insurance Ltd.
- Target market: SMEs up to A$100M in revenue; limits up to A$5M per claim.
- Broker workflow: Quote-bind-issue in under five minutes.
- AI core: Real-time risk evaluation, transparent scoring, and actionable insights.
- Built-in services: Risk scoring (Cowbell Factors), personalized guidance (Cowbell Insights), and hands-on resilience services.
Why this matters for distribution
Only about 20% of Australian SMEs carry standalone cyber insurance. That leaves an underserved 80%-a clear opportunity for brokers who need straightforward cover, quick issuance, and tools that strengthen client defenses before a claim.
Prime One simplifies the sales conversation: clear coverage, fast timelines, and evidence-based risk improvement. It helps brokers move beyond price and limits, positioning cyber as an ongoing service that actively reduces exposure.
How Prime One's AI layer supports underwriting and clients
At the core is an AI platform that assesses vulnerabilities in real time and surfaces clear risk signals. Policyholders see what drives pricing and coverage choices without dense jargon.
- Cowbell Factors: Ongoing risk scoring that updates as the insured's environment changes.
- Cowbell Insights: Practical, personalized recommendations to close high-impact gaps.
- Cowbell Resiliency Services: Targeted penetration testing, staff training, vendor risk reviews, and access to vetted experts via Cowbell Rx.
This approach supports loss control before incidents happen and speeds recovery if they do. It also gives brokers a consistent cadence for value-added touchpoints during the policy term.
Capacity, authority, and stability
Cowbell holds delegated authority with Zurich's financial backing and Australian presence. That mix aims to provide consistency through market swings and a single, accountable point for underwriting and claims.
For clients, it signals confidence: a tech-forward MGA model with a recognized carrier standing behind it. For brokers, it means faster decisions and a cleaner path from quote to policy issuance.
Broker workflow: How to position Prime One
- Who fits: SMEs up to A$100M revenue, especially those handling sensitive data, third-party integrations, or remote workforces.
- Lead with outcomes: Five-minute issuance, A$5M limits, and embedded services that reduce ransomware and data breach exposure.
- Pre-bind checks: MFA, backups, endpoint protection, and vendor controls-Prime One's AI will flag gaps and guide fixes.
- Ongoing value: Use Insights and Resiliency Services as scheduled touchpoints-turn the annual renewal into a year-round service.
Market context
Cyber incidents continue to disrupt operations and cash flow for SMEs. Simple, broker-friendly products with embedded risk services help close the protection gap while improving loss ratios.
For reference on baseline controls, see the Australian Cyber Security Centre's guidance on mitigation strategies (ACSC). Zurich's local footprint also adds credibility with finance teams and boards (Zurich Australia).
Leadership and on-the-ground execution
To lead locally, Cowbell appointed Anthony Wall as Head of Underwriting, bringing experience from AIG, Munich Re, and Chubb. Alric Lal steps in as Head of Business Development after two decades across broking and financial lines at UBT, Marsh, and Aon.
Voices from Cowbell
"Cyber insurance should empower businesses to operate without fear, not add layers of confusion," said Jack Kudale, Founder and CEO. "Our alliance with Zurich provides Australian firms with a solid base for resilience, drawing on our AI expertise, ongoing risk monitoring, and demonstrated success in cyber defense."
Chief Commercial Officer Simon Hughes added, "With so few SMEs protected by dedicated cyber policies, there's a clear need for reliable, easy-to-understand options. Prime One brings that assurance, supported by Cowbell's consistent performance across international markets."
What to do this week
- Pull a list of SME clients without standalone cyber and segment by revenue and sector.
- Run quick pre-qualification: MFA status, backup cadence, endpoint controls, third-party exposure.
- Offer a Prime One walk-through focused on issuance speed and embedded services, not just price.
- Set quarterly check-ins using Cowbell Insights to show measurable risk improvement.
If your team is building AI fluency to strengthen client conversations and internal workflows, explore role-based training options here: Complete AI Training - Courses by Job.
Your membership also unlocks:
