6th December 2023
DeNexus Inc, a provider of second-generation cyber risk quantification and management services to large industrial facilities, OT service providers, and the cyber insurance market, has launched DeRISK freemium–a complimentary version of its DeRISK AI-powered Cyber Risk Assessment platform.
DeRISK is a cyber risk quantification tool that 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. It is designed to help industrial organszations, underwriters, reinsurers and insurance-linked securities (ILS) investors fully understand the risks associated with cyber-attacks.
Aimed at industrial companies, DeRISK freemium is a simplified version that 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, DeNexus says that the DeRISK freemium product gives underwriters, reinsurance and ILS investors access to “inside data”- the collection of data direct from a client’s network- o monitor devices, threats and cyber controls in place.
“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,” said Jose Seara, founder and ceo of DeNexus. “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 organizations, 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.”
DeNexus says has developed credible modelling that produces evidence-based data in order to quantify cyber risk and develop the cyber insurance and cyber ILS markets. They have launched a series of ever-improving cyber models under its DeRISK platform, which are aimed at helping industrial organizations, underwriters, reinsurers and ILS investors fully understand and price the real risks associated with cyber breaches. DeNexus will announce soon plans about its risk transfer business in Bermuda, where they are working with some of the best capacity providers of cyber insurance on some innovative products.
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