Zurich launches 5-minute AI cyber insurance for Australian businesses
Zurich Financial Services Australia has rolled out a new cyber product, "PrimeOne," built with Cowbell. It uses AI to underwrite, quote, and bind in under five minutes. Distribution runs through licensed insurance brokers and targets businesses with up to $100 million in annual turnover.
What's inside the offer
PrimeOne provides ongoing AI-driven risk ratings and practical insights built from millions of data points. The platform benchmarks an organisation's cyber posture and highlights exposure areas. Customers also gain access to Cowbell's cyber resiliency services, including micro penetration testing, staff training, and vendor risk management.
Why this matters for brokers and underwriters
- Compresses quote-to-bind from days to minutes, helping you respond faster on mid-market placements.
- Delivers pre-bind visibility on cyber posture, supporting cleaner submissions and more confident recommendations.
- Pairs cover with hands-on security services, creating an ongoing risk improvement loop.
- Gives producers a clearer advisory role with clients by linking pricing to measurable security practices.
Eligibility and distribution
Available through licensed insurance brokers across Australia. Intended for organisations with up to $100 million in turnover. Speak with Zurich or your underwriting contact for appetite questions and placement workflow.
What to confirm before you place
- Data sources used for risk ratings and how consent, privacy, and updates are handled.
- Coverage scope, limits, and sublimits for key cyber perils; ensure wording aligns with client risk profile.
- Minimum security controls (e.g., MFA, backups, EDR) and how they affect pricing and binding.
- Incident response, claims handling, and any preferred vendor panels or SLAs.
- Integration points for broker workflows and client reporting.
Backed by prior market results
Zurich highlighted that this launch builds on an existing partnership with Cowbell in the UK and US, where thousands of businesses have been covered against major cyber risks. "We look forward to extending the success and learnings from these markets to businesses in Australia," said Alex Morgan, Head of General Insurance at Zurich.
Useful links
Upskill your team on AI in insurance
If you want producers and account managers fluent in AI concepts shaping underwriting and risk assessment, explore practical learning paths by role: AI courses by job.
Your membership also unlocks:
