Cowbell Cyber, the industry’s first AI-powered cyber insurance provider for small to medium enterprises (SMEs), announced that Kara Owens has joined the company as Chief Insurance Officer. As a key member of the Cowbell leadership team, Owens will oversee reinsurance partnerships, risk and portfolio management and drive new product development and innovation.
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, Owens joins as the company’s first-ever Chief Insurance Officer, reinforcing its continued momentum and commitment to revolutionizing the way enterprises evaluate cyber risk and buy cyber insurance.
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“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,” said Owens. “I look forward to bringing my experience and relationships to the innovation journey that Cowbell is already known for in cyber insurance and contributing to its already significant accomplishments.”
Owens joins the Cowbell team as an established underwriter and well-known insurance community professional. As the former Global Executive Underwriting Officer for Cyber and ESG at Markel Corporation, Owens has demonstrated her ability to develop successful market strategies and work with cyber underwriters across the company to achieve growth and profit initiatives. Her prior positions, including the Global Head of Cyber at TransRe and Senior Risk Analyst at Guy Carpenter, have successfully established Owen’s deep expertise in underwriting, product development and enterprise risk management across various insurance product lines.
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“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,” said Jack Kudale, founder and CEO at Cowbell Cyber. “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 is an active member of the Associate of Professional Insurance Women (APIW) where she currently serves as the Corporate Secretary and Programming Chair. Since 2014, Owens has also been an active member of the Covenant House, a non-profit organization that provides services to homeless and runaway youth. Owens is also a frequent speaker at universities and cyber conferences.
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