New modelling platform launches to help quantify cyber risk

DeNexus, a provider of cyber risk modeling for global re/insurers and insurance linked securities (ILS) investors, has launched a new tool to help companies quantify their cyber risk.

The company claims its new 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.

DeNexus has launched the product as the latest in a series of cyber models aimed at helping large industrial companies, underwriters, reinsurers, and ILS investors fully understand the real risks associated with cyber breaches.

DeNexus has expanded the capabilities of its DeRISK platform with advances in modeling and reporting functions that make it more scalable and aligned with key risk assessment, security, and maturity frameworks. DeRISK is said to be a self-adaptive, cloud-based technology that predicts where cyber breaches are likely to occur, values their impact on business and guides risk stakeholders towards the best risk mitigation paths for their organisation.

“We are delighted to be launching the latest version of this tool for our clients,” said Jose Seara (pictured left), chief executive officer of DeNexus. “The DeNexus platform is an indispensable enabler of cyber risk management and a risk transfer facilitator, which will allow our industrial clients to manage cyber-related enterprise risk and expand their businesses with confidence.”

He added: “DeNexus will continue to evolve the platform to help the risk transfer community augment cyber underwriting processes to enable new cyber re/insurance and ILS offerings with confidence.”

Alessandro Nepoti (pictured right), chief technology officer at DeNexus, noted: “Cybersecurity and overall risk management have become increasingly synonymous for industrial organisations. The market needs a solution that can unify cybersecurity and risk management. With this version of DeRISK, we have invested heavily in that demand.

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