Kovrr: Simplifying cyber risk management decisions

Founded in 2017, Kovrr financially quantifies cyber risk on demand and is led by a team of (re)insurance professionals, cyber intelligence experts, catastrophe modellers, and experienced software developers.

Its technology enables decision makers to drive actionable cyber risk management decisions. By leveraging Kovrr’s Quantum Cyber RIsk Quantification Platform, CISOs, CRO’s and Boards can make more intelligent data driven decisions about how to manage the companies' cyber risk (i.e., whether to accept, mitigate, or transfer the risk), prioritising new technology investments, and measuring the ROI of those investments in specific controls or programs.

A tailored cyber quantification assessment

The company recently announced the launch of the Cyber-Sphere within its Quantum CRQ platform. It is a self-populating framework for financial quantification of cyber risk by asset groups, which will helps large corporations with complex company networks share necessary information for CRQ analysis and provides a more actionable view of security posture for cyber risk management decision-making.

Despite the growing need for financial CRQ, enterprises struggle with mapping and communicating the structure of company networks to third-parties to provide the most complete and accurate depiction of a company’s critical business assets. 

According to Kovrr, Cyber-Sphere solves this challenge by offering CISOs a view of the company’s security posture without compromising on accuracy or requiring as much information to perform the quantification. The Cyber-Sphere reflects the main characteristics and properties of an organisation to allow for an on-demand and tailored cyber quantification assessment with an unprecedented level of granularity into asset groups and business units.

“Financially quantifying cyber risk is critical for large organisations. In order to do it properly, risk professionals need to perform these assessments continuously instead of quarterly or annually. Cyber-Sphere enables security professionals to routinely assess cyber risk in their organisation and provides a view of the financial risk that aligns with the way a company actually operates, making it more understandable to key stakeholders like the C-suite and Board,” said Yakir Golan, CEO of Kovrr.