TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--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.