Cyber risk modelling firm DeNexus expands into Europe

DeNexus, a provider of cyber risk modelling for global re/insurers and insurance linked securities (ILS) investors, has expanded its operations into Europe.

The company has opened an office in Lugano, Switzerland, and recruited experienced industry experts to help the build-out of its cyber center of excellence in Europe.

Joining the Lugano office are senior software architect Marco Sabitini and Mario Pio Gioiosa. Sabitini is the co-founder of Software Craftmanship Ticino, and he joins from Nozomi Networks, where he worked as a software engineer. Pio Gioiosa joins from  lastminute.com, where he was technical reference and software engineer.

The duo will help DeNexus to further develop modeling on financial impact of cyber breaches for the cyber risk management and risk transfer communities, and will report to DeNexus chief technology officer Alessandro Nepoti.

The company’s platform DeRISK 4.0 provides “evidence-based authentic and transparent” data in order for industrial companies to measure the financial impact of cyber risks on their business, investment strategy and balance sheet.

Its cyber models are designed to help large industrial companies, underwriters, reinsurers, and ILS investors fully understand the real risks associated with cyber breaches.

“Switzerland is an ideal base for us to open our European operations, as it combines German, eastern and southern European influences and it is a traditional hub for the insurance business”, said Alessandro. “The cyber risk management and risk transfer communities need to trust the numbers when it comes to cyber breaches, and for that, you need to attract the top software talent, which we have done with the appointments of Marco and Mario, who bring unique software and big data experience to DeNexus.”

Jose Seara (pictured), founder and chief executive officer of DeNexus, added: “We are aiming to create a new hub of cyber knowledge here in Switzerland, part of DeNexus Knowledge Center. I am excited to have recruited such talented software engineers and architects, which will help DeNexus to expand the horizons of our R&D team.”

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