Cowbell targets £902bn UK tech sector with cyber and PI launch

SME and mid-market cyber insurer Cowbell has today (24 April 2025) launched a new combined cyber and professional indemnity (PI) proposition for UK technology firms.

Called Prime One Tech, the proposition is aimed at technology companies dealing in software, hardware, communications and services that have an annual turnover of up to £1bn.

The product, which offers limits of up to £5m, includes cover for breach of contract, cyber crime, data loss, intellectual property infringement, unpaid invoices and subcontractor risks.

The launch of Prime One Tech marks the US-based insurer’s first foray into non-standalone PI cover in the UK and builds on its standalone cyber product, Prime One, which launched in September 2023.

Claud Bilbao, vice-president of underwriting and distribution at Cowbell UK, said: “The UK has a robust technology sector that faces an increasingly complex array of both cyber threats and operational challenges.

“These companies need more than just general PI insurance. They need tailored, innovative propositions that keep pace with the industry’s rapid evolution.”

Features

Prime One Tech also includes access to Cowbell’s proprietary tools, such as Co-Pilot – a generative AI feature that strives to reduce contract review time by up to 40% – and Cowbell Factors, which uses data from 47 million businesses to assess cyber risk across eight metrics.

Policyholders will also benefit from free cyber awareness training for the first 12 months after policy inception.

Backed by A+ rated reinsurance partners and a July 2024 $60m (£48m) investment from Zurich, Cowbell said it aims to deepen broker relationships – particularly with firms working on specialist technology accounts.

Bilbao added: “Our experienced team of underwriters are looking forward to deepening relationships with brokers and further developing our digital distribution capabilities to better serve the UK market.”