We are a cutting-edge startup company specializing in using artificial intelligence and machine learning to help businesses, brokers and insurance providers help manage their cyber insurance needs.
Cyber insurance provides financial protection in the event of a cyber incident. However, securing the right coverage requires a thorough understanding of an organization's vulnerabilities, assets, and potential exposure. This abridged technical risk assessment is the foundation upon which a tailored cyber insurance policy should be built.
A technical risk assessment evaluates an organization's IT infrastructure, cybersecurity measures, governance, risks, compliance, policies, and data handling practices. It identifies vulnerabilities, assesses the effectiveness of security controls, and gauges an organization's resilience in the face of cyber threats
Evaluating the effectiveness of an organization's existing cybersecurity measures, including firewalls, intrusion detection systems, and incident response protocols.
Assessing the sensitivity and value of data assets, as well
as their protection
mechanisms and encryption practices.
Ensuring compliance with industry standards and regulations, which may impact insurance coverage and premiums.
Evaluating the readiness and effectiveness of an organization's incident response plan, including backup and recovery procedures.
Identifying vulnerabilities introduced by third-party vendors and partners who have access to an organization's systems or data.
From your input captured in CYBRYX platform to complete this assessment, this elaborated report can further help you achieve following outcomes, when it comes to cyber insurance.
A thorough technical risk assessment enables organizations to obtain cyber insurance coverage that aligns precisely with their risk profile. By demonstrating a commitment to cybersecurity and risk mitigation, organizations can negotiate more favorable terms, coverage limits, and premiums.
Beyond insurance considerations, a technical risk assessment helps organizations enhance their cybersecurity posture and resilience. It provides actionable insights that can guide investments in security measures, employee training, and incident response capabilities.
CYBRYX offers a range of Cybersecurity risk assessments related services that are designed to meet the specific needs of businesses of all sizes.
For clients who are completely new to Cyber risk assessments, we provide level 1 support services to complete customized Cybersecurity risk assessment on CYBRYX platform.
This will help businesses understand their current Cybersecurity risk posture and insurance needs.
For clients who have completed their initial Cyber risk assessment, we help develop a customized mitigation strategy that will address their Cyber risks.
With this level 2 strategy service, businesses receive a delivery plan to improve their Cybersecurity risk posture and help procure the most appropriate Cybersecurity insurance cover from market leading insurance providers.
For clients who understand their Cyber risk profile, but do not have the mechanisms, knowledge, tools or resources to mitigate those risks, we help execute their Cyber risk mitigation strategy.
With this level 3 strategy delivery service businesses could improve their Cybersecurity risk posture and ultimately reduce their Cyber insurance costs.