DeRISK new freemium version aims to help companies quickly evaluate their cyber risk posture
DeNexus Inc, a provider of second-generation cyber risk quantification and management services, has expanded access to its cyber tool with the launch of DeRISK freemium, a complimentary version of its DeRISK AI-powered Cyber Risk Assessment platform.
DeRISK is a cyber risk quantification tool designed to help industrial organisations, underwriters, reinsurers and insurance-linked securities (ILS) investors fully understand the risks associated with cyber-attacks.
It uses evidence-based data to predict where and how breaches are likely to occur, what their business impact will be, and what mitigation actions provide the highest return on investment.
DeRISK freemium, a simplified version aimed at industrial companies, gives facilities and risk owners a complimentary entry point to comprehend their cyber risk posture and evaluate the impact of mitigation strategies at no cost.
For the risk transfer industry, the DeRISK freemium product gives underwriters, reinsurance and ILS investors access to “inside data” – the collection of data direct from a client’s network – to monitor devices, threats and cyber controls in place.
The creation of this tool aims to breach the silo between the risk owner and risk underwriter, Jose Seara, Founder and Chief Executive Officer of DeNexus, explained: “Siloed communication about cybersecurity and the lack of a data-driven, shared understanding of cyber risks between the risk owners and risk underwriters has stunted the growth of a flourishing cyber reinsurance and ILS market.
“DeRISK mitigates communication barriers between cybersecurity and the risk transfer community by giving direct access to the client’s data to illustrate how cyber risk can impact their business. Nobody else in the market is trying to serve both sides. Our goal is ambitious – to create a fluid risk transfer and cyber ILS market.”
George Mawdsley, Head of Risk Solutions at DeNexus, added: “This tool enables the risk transfer community to have access to the data inside organisations, giving them a clearer and more accurate understanding of the actual cyber risk. We are confident that this reliable data will contribute to the expansion of a sustainable cyber ILS market.”
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