Cyber Most
The
Trusted
Security
Companies to Watch 2020
Creating a Benchmark in Cyber Insurance Management
S
ecurity is not just a technological issue, it is a financial issue in current asymmetric world. An attack may cost a fraction of the defenses, so putting your funds and people where it matters is imperative. Working with external vendors and consulting firms to assess cyber risk and security is extremely expensive, long, and probably obsolete the day you received the report. Cytegic’s ACRO enables business executives to make the financial decision between risk reduction by investments in defenses and/or risk hedging with cyber insurance. The company’s patented, scientific approach provides digital-related risk oversight across the organization. An interview conducted between Insights Success, and Elon Kaplan- Chief Executive Officer, allows organizations to automatically collect, process and analyze the widest range of security control data. Below are its highlights: What led to the inception of the company? As we began to witness the move towards quantitative risk analysis to shift the conversation from a purely technical one to that of business risk in traditional enterprise risk management, we knew that we wanted to be part of solving this highly challenging task. Through Cyber Risk Quantification, using hard data, business executives and CISOs to answer their board of directors’ questions about the effectiveness of their cybersecurity program with confidence, make better decisions about budgets & technology investments and assist in meeting regulatory requirements. It’s the pillar of achieving business & ecosystem resilience, and we see ourselves as a critical player in bringing cyber risk quantification to businesses of all sizes in all industries.
32 | January 2020
Could you throw some light on your mission and vision statement? At Cytegic, we believe that companies are constantly measuring the performance of investments in current and proposed business activities. Good managers look at the upside revenue potential as well as known and unknown obstacles they may face. In recent years, cyber financial risks have become significant enough to be factored into overall business strategy. Cytegic strives to become the premier partner in helping organizations solve the highly challenging task of quantifying their cyber risk. Describe your company and its cutting-edge cybersecurity solutions that address all the needs of your customers. Cytegic’s automated technology introduces Rapid Cyber Risk Quantification to the market to solve the complex challenges in obtaining quantified, contextual, and validated data needed to accurately assess & manage cyber risk with ease and visibility. Due to intensive labor and capital resources with scarce technical expertise, most companies often fail to identify all of the possible risk scenarios against each of their organizational assets. As a result, many organizations have a weak grasp of what their cyber risk means to the business and how they can optimize their security budget between risk mitigation vs. risk transfer. Cytegic’s platform immediately provides companies of all sizes with actionable insights into their financial risk exposure, the risk to each organizational asset, and the critical controls the insured can remediate to lower the financial impact of their cyber risk. Further, the biggest challenge for organizations is not technical, it’s organizational. Traditional, siloed and manual assessments in cumbersome Excel documents constrain resources and are not effective for understanding risk across industry standards and regulations. This, unfortunately, www.insightssuccess.com
