Cytegic, a leader in cyber risk quantification solutions and Howden,
part of the Hyperion Insurance Group, a leading international insurance
intermediary, today announced a strategic partnership leveraging
Cytegic’s platform to automate cyber risk assessment and financial
impact analysis across global markets.
Shay Simkin, Global Head of Cyber, Howden said, “After researching
numerous solutions and putting the Cytegic platform through a variety of
challenging tests, we were able to confirm Cytegic’s unique ability to
accurately quantify financial risk through its automated ACRO platform.
Rapid evaluation of third-party risk and security posture optimization
can be performed automatically through the Cytegic platform, providing
clients with greater efficiency and transparency. We will be able to
provide a proactive partnership with customers by actively helping them
understand and quantify their cyber risk.”
Elon Kaplan, CEO of Cytegic said, “We are excited to partner with
Howden, a global leader with extensive expertise in cyber insurance, to
drive forward the cyber insurance revolution. Cytegic’s non-invasive and
automated cyber risk quantification platform enables end-to-end
cost-effective management of cyber insurance policies with precision,
validity and financial transparency.”
Increasing global regulatory requirements demand a greater level of
cyber risk identification and management. Cyber risk, in the age of
all-encompassing connectivity, needs to be addressed by executives and
boards in a business context and not as an IT problem. Deloitte’s EMEA
Centre for Regulatory Strategy recently explained that: “Ultimately,
being able to translate a strong understanding of cyber risk exposure
into an accurate quantitative measurement – a nascent capability for
much of the industry – may become a key expectation.”
Howden, the retail broking arm of Hyperion Insurance Group, provides a
range of specialist insurance solutions to clients around the world.
Howden has offices in Europe, Asia, Iberoamerica, the Middle East and
Africa. It has the greatest reach with its own offices of any
independent broker and a total reach to over 90 territories with its
partner network Howden One.
For more information, please visit www.howdengroup.com.
Cytegic’s revolutionary cyber risk quantification platform is the
industry’s first automated end-to-end solution that encompasses the
entire scope of cyber risk assessment and financial impact analysis
across the entire insurance and risk value chain. After 25+ man-years of
R&D and 4 granted US patents, Cytegic has made groundbreaking steps in
the highly challenging task of quantifying cyber risk at any level of
scale, from SMB’s to Fortune 500. Utilised globally by insurers,
enterprises and global consulting partners, Cytegic’s Automated Cyber
Risk Officer (ACRO), leverages forward-looking, contextual and
quantified global threat intelligence with internal, technologically
validated defensive capabilities, to automatically identify risks to an
organization’s business assets and financial impact at any degree of
granularity. We can finally talk about cyber risk as a business risk
tied to dollars and ROI; and make informed business decisions.