DeNexus, a provider of second-generation cyber risk modelling for industrial organisations, reinsurers and investors in insurance-linked securities (ILS), has announced the launch of the new version of its data-driven cyber risk platform aimed to better quantify and manage risks associated with cyber breaches.
According to the announcement, DeRISK 5.0 offers a uniquely integrated set of data from external sources and from the organisation’s internal OT (Operational Technology) infrastructure.
This enables executives to make reliably informed cyber risk management decisions and allocate cyber resources more effectively, based on credible data. In addition, DeRISK 5.0’s new intuitive user interface makes it easy to extract actionable cyber risk insight.
Jose Seara, Founder and CEO of DeNexus, said: DeNexus represents the second generation of cyber modelers; using data from inside a client’s network contextualised with the underlying industrial process and the business layer gives specific insight about risk exposures and their management.
“The second generation also understands the need for differentiation of type of cyber risk, whilst the first generation of cyber modelers was non-specific and took a ‘one size fits all’ approach.”
The platform, DeNexus explained, goes inside the large industrial facilities leveraging telemetry to gather data. It calculates the facility owner’s financial exposure to cyber risk and provides them with risk mitigation strategies, using broadly implemented cyber security frameworks.
Srikant Rachakonda, Director Product Management at DeNexus, highlighted that this was a significant upgrade from the platform’s previous version as it is designed to meet the needs of risk owners (the industrial enterprises) and risk assumers (insurance, reinsurance and ILS firms).
Mitesh Chauhan, DeNexus’ Global VP Product Management, added: “Inside and Outside data accumulated in our DeNexus Knowledge Center over the last two years has enabled a superior calibration of the enhanced modeling system in DeRISK 5.0 to deliver credible cyber risk data to our clients.
“We can share that data in a secure and compliant manner through our proprietary DeNexus Trusted Ecosystem – a combination of data integrity, encryption and anonymization tools, security standards and certifications, and trusted and certified infrastructure – to enable strict control over the dissemination of data.”