DeNexus Inc, a provider of second-generation cyber risk modeling for industrial organizations, global (re)insurers and investors in insurance-linked securities (ILS), has announced the launch of Version 5.3 of its DeRISK Platform.
DeRISK 5.3 is an evidence-based, data-driven cyber risk quantification and management tool that aims to help the risk transfer community better understand, mitigate and transfer the risks associated with cyber breaches. DeNexus’ cloud-based technology extracts data directly from an industrial organization’s internal Operational Technology infrastructure, which increases the accuracy in determining the financial impact of a cyber event. This helps (re)insurers and ILS investors commit appropriate risk capacity and develop better solutions to cover cyber risk.
“Insurers, reinsurers and ILS investors need to have confidence in cyber data in the underwriting process, in order to create new cyber offerings with confidence,” said Jose M. Seara, Chief Executive Officer of DeNexus. “The updates to the DeRISK platform were driven by the dynamic nature of cyber risks and give the risk transfer community the ability to better quantify and manage cyber risk exposures on a continuous basis.”
DeNexus’ approach is a response to the risk transfer sector’s need for clear visibility of cyber exposure, but also a view of that exposure as it evolves over time.
The DeRISK Version 5.3 enhancements include:
1. Enhanced Portfolio Builder. Underwriters can build portfolios for risk aggregation based on user-criteria. Categories include: asset class, region, technology, OEM, asset manager, ownership, insurance portfolio, risk pools.
2. New Project Simulator. A new ‘what-if’ scenario builder for Mitigation projects. This new feature enables DeNexus’ industrial clients to run different ROI-based mitigation project simulations; helping them answer the meaningful questions coming from CISO’s, Boards and the C-Suite, for example, what is the best use of our budget? What projects can be accomplished in the next fiscal year? What is the reduction of risk for each project? What is the return on investment for each project?
3. New Reports. Customized reports to communicate the most meaningful risk indicators and trends for each stakeholder team. You can now customize reports with information to managers, cyber practitioners, compliance teams, budget committees, and executive boards.
4. Improved performance. Better algorithms for data processing empowers the user to build portfolios with hundreds of individual risks while keeping risk assessments within minutes or hours. Multiple scenarios can be calculated in parallel.
5. More Critical Data. DeNexus Knowledge Center, DeNexus’ proprietary cyber database, keeps growing with evidence-based data, empowering DeNexus to take industry-wide view of the risk for certain industry verticals.
More here.
Be the first to comment