Cytegic and S-RM Intelligence and Risk Consulting have announced a strategic partnership to leverage Cytegic's rapid cyber risk quantification across global markets and the insurance industry


Image: Cytegic partners with S-RM Intelligence and Risk Consulting. Photo: Courtesy of Pete Linforth/Pixabay

Cytegic, the leading automated comprehensive cyber risk management platform powering the cyber insurance revolution, and S-RM Intelligence and Risk Consulting, one of the world’s leading risk and intelligence consultancies, today announced a strategic partnership to leverage Cytegic’s rapid cyber risk quantification across global markets and the insurance industry.

“Insurance companies are striving to underwrite cyber risk more smartly, more efficiently, and with more transparency. They are striving to understand how they can leverage analytics to better tailor their service offering and sales conversations, no matter where they work,” said Steven Schwartz, VP of Strategy and Insurance. “Cytegic is the underpinning mechanism allowing the industry to do exactly that. We’re excited that this strategic partnership with S-RM further extends the value of Cytegic given their extensive domain expertise and global resources, enabling both enterprises and the insurance industry to rapidly quantify cyber risk. Our combined resources will seek to transform traditional cyber risk management through automated value-added insights and professional support that optimize the spend between risk mitigation and risk transfer to achieve cyber resilience.”

The lack of historical experience and rapidly evolving nature of cyber risk creates significant challenges for quantifying cyber risk. With limited human and financial resources, many organizations have a weak grasp of what their cyber risk actually means to their bottom line.

“Partnering with Cytegic allows us to deliver a new dimension to optimizing cyber risk management and resilience,” said Billy Gouveia, Senior Managing Director of Cyber Security at S-RM. “Cytegic’s robust solution helps S-RM’s cyber consultants support our clients in identifying, measuring, and managing cyber risks and driving efficiencies.”

From brokers to underwriters and board members, the entire value chain can leverage the power of Cytegic with S-RM’s intellectual and human capital, to take full advantage of rapid cyber risk quantification and cyber risk management.

Elon Kaplan, CEO of Cytegic said, “We are excited to partner with S-RM, a global leader in risk consulting with extensive expertise in cyber risk management and insurance, to drive forward the cyber insurance revolution. Cytegic’s non-invasive and automated cyber risk quantification platform enables end-to-end cost-optimized management and ROI of cyber risk mitigation and cyber risk transfer with precision, validity and financial transparency.”

Source: Company Press Release