Author: Semsee HQ
Agents can educate small businesses about cyber coverage and
compare offerings using platform
NEW YORK, September 14, 2022 – Semsee, where agents go to quote small commercial risks and renewals, has added At-Bay and Coalition to its platform expanding access to standalone cyber insurance products and the ability to add cyber from agents’ standard carriers. They join Cowbell, the first cyber insurer tapped by Semsee, to create a suite of cyber coverages that can be quoted using Semsee’s single form submission process.
Cyber coverage is a growing area for agents and insurers. Semsee’s platform is streamlining the buying process for businesses, enabling agents to capitalize on the market opportunity. Using Semsee, they can easily obtain a cyber quote while getting quotes for other small business coverages, including BOP (Business Owners Policies) and General Liability.
“Small businesses are increasingly becoming targets for cyber criminals, and they need coverage. But cyber policies have been a difficult and complicated sale for many agencies. We’re enabling agencies to add cyber coverage to other coverages quickly, easily, and effectively,” explained Philip Charles-Pierre, CEO, Semsee.
Semsee’s platform now offers a variety of cyber options. Coalition’s Active Insurance integrated approach combines industry-leading proactive cybersecurity tools and support, access to around-the-clock claims response, and comprehensive insurance coverage to help organizations identify and mitigate digital risk before it strikes. At-Bay offers bindable surplus cyber quotes in seconds via API with robust first and third party coverages along with Active Risk Monitoring to help businesses stay secure. They join the ranks of Cowbell whose standalone, admitted, and surplus cyber insurance programs serve enterprises with up to $250 million in annual revenue and are bundled with risk engineering that empower policyholders to improve their cyber risk profile and minimize cyber incidents.
“Cyber insurance is quickly becoming imperative for all businesses. Agencies need to make sure their clients are protected, especially with recovery costs reaching tens or hundreds of thousands of dollars,” explained Charles-Pierre. “At Semsee, we understand what it takes to educate clients on a new coverage. It’s important to provide information and options. We are excited to be adding digitally enabled providers Coalition and At-Bay to our platform, alongside with Cowbell. There’s a real opportunity to expedite the sales process so agents have more time to advise their customers.”
At-Bay is the insurance provider for the digital age. By combining world-class technology with industry-leading insurance expertise, At-Bay was designed from the ground up to empower businesses to thrive in the digital world. At-Bay is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital. www.at-bay.com
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Through its partnerships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd’s of London, Swiss Re Corporate Solutions, and Vantage, Coalition offers its Active Insurance products in the U.S., U.K., and Canada, and its security products to organizations worldwide. Coalition’s Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in office hubs.
Cowbell is signaling a new era in cyber insurance by harnessing technology and data to provide small and medium-sized enterprises (SMEs) with advanced warning of cyber risk exposures bundled with cyber insurance coverage adaptable to today and tomorrow’s threats. 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. Cowbell Reinsurance Company is a licensed insurance captive in the State of Vermont. For more information, please visit www.cowbell.insure.
Semsee simplifies and accelerates the small commercial quoting experience for independent agents, giving them more time to service their clients and grow revenue. Inspired by the promise of the original SEMCI initiative, Semsee combines advances in technology, workflow efficiencies and data and analytics to give agents fast, accurate quotes from multiple appointed carriers through a single-form submission. Semsee is backed by 01 Advisors, the D. E. Shaw group, through its venture studio DESCOvery, and Nephila Holdings, Ltd. For more information visit: https://semsee.com.