Cyber risk solutions company Resilience has launched Cyber Risk Calculator, an AI-powered tool that translates cyber risk into financial terms to provide security and risk practitioners, as well as C-Suite executives, with a common, data-driven language to better understand and quantify their cyber risk.
The Cyber Risk Calculator uses industry benchmarks to help stakeholders gain crucial insights into their risk exposure and potential financial losses due to cyber-related incidents.
Resilience developed this tool to help address the new challenges posed by increasingly smarter threat actors, the rise of AI-powered hacking capabilities, and the growing interdependence that introduce new variables and complexities to the threat landscape.
As third-party risk skyrockets—with Resilience’s own research finding that vendor-related cyber insurance claims led to losses for the first time ever last year—companies are tasked with assessing not only their own security postures, but also that of their partners.
“Most businesses know that today’s threat landscape is evolving rapidly. But very few understand what this evolution means for their company, and fewer still have the tools necessary to take meaningful action to protect themselves. This is the gap our Cyber Risk Calculator fills,” said Vishaal “V8” Hariprasad, Co-Founder and CEO of Resilience.
He continued: “The user-friendly tool offers unprecedented visibility into a company’s cyber exposure against industry benchmarks and visually demonstrates how cybersecurity investments can reduce that exposure. Ultimately, the calculator empowers security practitioners to translate complex technical vulnerabilities into clear financial terms, so the C-Suite can make smarter, data-driven cybersecurity investment decisions.”
The Cyber Risk Calculator streamlines the assessment process by asking six simple questions about a user’s organisation, then creates a financial loss projection based on key firmographic data points and desired insurance limits.
Then, the calculator provides a high-level estimate of potential cyber risk, expressed in real dollar terms; an initial assessment of risk exposure versus risk tolerance; and a cyber risk projection based on proprietary industry benchmarks.
Resilience emphasised the importance of a data-driven, personalised approach. For the company’s manufacturing clients, their calculated cyber risk can differ significantly—by as much as 35%—depending on how they manage critical risk factors such as multi-factor authentication (MFA), backups, and vendor management.
Dr. Ann Irvine, Chief Data and Analytics Officer at Resilience, said: “For too long, CISOs, CFOs, and risk managers have spoken different languages, stalling critical cybersecurity investments and leaving companies vulnerable. Drawing from our unique bird’s-eye-view of the threat landscape, extensive underwriting capabilities, and proprietary Risk Operations Center, we built a tool that bridges this communication gap.
“Now, businesses can have a common language that everyone can understand—from the server room to the boardroom. Armed with learnings from the Cyber Risk Calculator, they can align technical, financial, and operational staff around the shared goal of meaningfully reducing organizational risk.”
