Howden and Cytegic partner for automated cyber risk assessment and financial impact analysis

Howden’s valuable new approach to partner with customers to understand cyber risks powered by Cytegic

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 noninvasive 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.”