News
Embroker Partners with Dashlane and Cowbell to Continue Building Single-Destination Risk Mitigation Solution
July 2023 by Marc Jacob
Embroker, the digital platform making it radically simple to get business insurance, today announced strategic partnerships with Dashlane, a security-first password management provider, and Cowbell, a leading provider of cyber insurance for small and medium-sized enterprises (SMEs). With these, Embroker increases customer security through Dashlane’s industry-renowned cyber protection services and expands its Cyber Liability coverage by offering Cowbell Cyber insurance to its existing and prospective customers.
PROTECTING PASSWORDS AND POLICYHOLDERS WITH DASHLANE
Through a partnership with Dashlane, Embroker customers have access to proactive cyber protection services, allowing them to get ahead of a potential breach. Embroker and Dashlane share the core belief that risk management begins with prevention.
Embroker’s partnership with Dashlane grants its current and future policyholders access to Dashlane’s enterprise password management featuring patented, zero-knowledge encryption, meaning all passwords and other items stored in users’ “vaults” remain private to users, even from Dashlane itself. Dashlane also monitors the dark web for information, alerting Embroker customers when their information is at risk. This level of protection ensures policyholders keep their premiums as low as possible by preventing breaches before they happen, and ultimately, protecting their time from the lengthy process of filing a claim.
THIRD-PARTY COVERAGE FROM A SINGLE-PARTY PROVIDER
The addition of Cowbell’s admitted Cyber Liability Product to Embroker’s offerings underscores the continued evolution of ONE by Embroker. Its partnership with both legacy and insurtech carriers offers a custom, faster, more holistic customer-centric buying experience. Uniquely enabled through an API, Cowbell’s admitted Cyber product can now be paired with Embroker’s admitted LPL product, further strengthening its exclusive bundle offerings.
Cowbell is the leader in cyber insurance for SMEs, and by incorporating its policy, Embroker ensures its customers can secure the best bespoke coverage possible, whether it’s through an Embroker product or otherwise.
To kick off the partnership, Cowbell now completes Embroker’s law bundle offering. Through this law bundle, Embroker becomes the destination for coverage that takes into account the unique risks law firms face, including professional services and cyber liability claims.
CONCERN FOR CYBER DECLINES DESPITE CYBER CRIME REMAINING STEADY
These partnerships are made public following new data from Embroker that reveals a decline in concern around cyber attacks year-over-year. In 2022, survey data found that 20% of venture-backed startups considered cyber attacks their top threat; this declined to just 14% of founders in 2023.
This decline could be the result of many factors, from the large return to office, the lack of coverage of the Russian-Ukrainian conflict, and managing recession and inflation insecurities. While concern is down among founders, they cite their investors’ cyber concerns have actually increased year-over-year (34% in 2023 compared to 24% in 2022). And, when prompted on how they plan to prioritize risk in the event of a recession, a third said they would focus on cyber security issues.
