Cowbell taps former Markel/TransRe cyber head as chief insurance officer

Former Markel cyber and ESG head has joined  Cowbell Cyber in the newly created role of chief insurance officer, where he will oversee reinsurance partnerships, risk and portfolio management and drive new product development and innovation.

Cowbell Cyber, a provider of artificial intelligence-powered cyber insurance to small and medium enterprises (SMEs), has hired cyber insurance veteran Kara Owens (pictured) as its first-ever chief insurance officer.

Owens is the former global executive underwriting officer for cyber and ESG at Markel Corporation. Previously, he also served as the global head of cyber at TransRe, and senior risk analyst at Guy Carpenter. Owens is an active member of the Associate of Professional Insurance Women (APIW) where she currently serves as the Corporate Secretary and Programming Chair.

A recent report from Gallagher Re predicts that the cyber reinsurance market will double in size every three years if it keeps growing at its current pace, becoming comparable in size to property catastrophe or casualty by 2040. Aligning with this trend, Cowbell aims to "revolutionise" the way enterprises evaluate cyber risk and buy cyber insurance.

Jack Kudale, founder and CEO at Cowbell Cyber, said: "After a year of record underwriting profitability and performance, Kara joins the Cowbell team at a point of momentous industry growth as the demand for cyber cover continues to soar. As a board observer, Kara has known Cowbell since its inception and I'm confident that she will strategically help us as we usher through our second wave of growth."

Owens commented: "With Cowbell's profitable and sustainable growth over the last few years and a forecasted second wave of growth in cyber premiums from 2023, it is an exciting time to take the role of Chief Insurance Officer."

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