CRQ: The Key to Understanding and Managing Cyber Risk
Kovrr's cyber risk quantification platform enables risk managers and key decision-makers to financially quantify their cyber risk exposure and develop data-driven mitigation plans.
Make Smart Business Decisions.
Kovrr’s Cyber Risk Quantification Platform Key Features
On-Demand Quantitative Cyber Risk Analysis
Evaluate and assess your enterprise’s financial exposure to cyber risk by quantifying the likelihood and impact of cyber events. Kovrr's modeling methodology uses a Monte-Carlo simulation to produce a highly accurate assessment that accounts for into account your organization's specific cybersecurity resilience, the threat landscape, and cyber insurance data.
The results are an in-depth array of financial outputs, broken down by events and various business impact scenarios, equipping you to prioritize cyber risk management efforts accordingly.
Business Loss Impact Scenarios
The costs of a cyber event are typically distributed across a number of areas. For instance, in the wake of a data breach, an organization may have to pay compliance and legal fees while also suffering from revenue loss due to compromised systems.
By breaking down these various loss impact scenarios, Kovrr’s cyber risk quantification solution offers cybersecurity leaders and financial planners crucial information, allowing for more targeted risk mitigation initiatives that minimize the likelihood and potential monetary impact of specific loss types.
Risk Progression
Monitoring how an organization’s susceptibility to cyber risks has decreased with time and how this reduction translates into financial savings offers cybersecurity teams a more nuanced understanding of the value of their cybersecurity programs and provides essential data for more informed decision-making.
Kovrr's CRQ platform comes equipped with an easy-to-use Risk Progression feature that illuminates key metrics, enabling organizations to better understand and demonstrate how their organization's cyber risk posture has progressed based on various upgrades and structural adjustments.
Risk Management & Security Control Upgrade Insights
Build data-driven risk mitigation strategies. Kovrr's cybersecurity recommendations enable organizations to lower their cyber risk exposure by operationalizing insights generated by our enterprise-ready models.
Cyber risk management and mitigation recommendations incorporate the most popular cybersecurity maturity frameworks (CIS, NIST, etc.), allowing Kovrr’s model to quantify the different risk profiles of an organization based on familiar security configurations. These recommendations provide the financial impact of upgrading the relative controls to higher maturity levels.
ROI Analysis for Cybersecurity Initiatives & Budget Planning
Understand the potential financial effects of different mitigation activities and compare them with their annualized cost. Kovrr’s platform has a built-in cybersecurity ROI calculator, revealing the potential savings of pursuing a specific cyber risk mitigation initiative.
Use Kovrr's CRQ platform to run what-if simulations based on programs the cybersecurity department would like to implement and quickly receive new quantification results that provide clear ROI metrics for budget planning. Leverage these quantifications to calculate multi-year ROI.
Cyber Insurance Insights
Devising cybersecurity insurance terms that meet your organization’s unique risk posture can be challenging. But with Kovrr's cyber risk quantification platform offering insights into how your policy would perform based on your current cybersecurity threat posture, your organization can negotiate an economical policy that ensures business resilience in the case of an event.
Kovrr’s CRQ solution also provides users with guidance on various insurance options according to risk appetite and policy structure and significantly aids in revealing gaps in the organization’s coverage.
Cyber Materiality Analysis
As governments worldwide continue to enact legislation requiring organizations to disclose material cyber events and risks in a timely manner, it has become increasingly crucial to define this somewhat ambiguous threshold. Quantified benchmarks provide a solid starting point for this determination process.
Kovrr’s first-of-its-kind Cyber Materiality Analysis feature offers enterprises these preliminary thresholds, such as financial loss, data record compromisation, and outage time, calculated based on a customizable basis point of revenue. With these figures, disclosure is significantly streamlined, helping to ensure compliance.
Benchmarking With Key Industry Insights
With objective insights into key peers' and players' cyber risk exposure within respective industries, organizations can ensure they’re maintaining a competitive edge and pursuing appropriate, context-specific cyber mitigation strategies.
Incorporating millions of cyber event loss data points, our CRQ solution offers critical cyber event benchmarking metrics that empower enterprise cyber risk managers to compare their risk postures and gain the necessary resources to stay ahead in the evolving cyber risk landscape.
Third-Party Cyber Risk Analysis
Uplift your TPRM & GRC program by understanding the contribution of a third-party service provider to your overall cyber risk exposure. Working with a third-party provider is an essential part of doing business, yet often, available data regarding their security controls is limited, making assessing their risk a lengthy process that renders insufficient results.
However, with Kovrr's CRQ platform, your cybersecurity team gains key insights into how third-party risk contributes to overall exposure and financial loss. The solution also provides targeted suggestions for initiatives that can limit this potential damage.
Cyber-Spheres and Asset Groups
Kovrr has devised a framework that allows companies to capture the complexities of their organization and have them reflected in the cyber risk quantification results. This Cyber-Sphere methodology allows for a high level of granularity input that is then reflected in more customized cyber risk forecasts.
Users can delve deeper than an aggregated company-level cyber risk analysis by providing inputs at an Asset Group (AG) level. For example, employee endpoints can be split by country, region, or operating group, ultimately enabling more targeted risk mitigation plans.
Key Benefits
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On-Demand Financial Cyber Risk Quantification Insights
Insurance-Grade Cyber Risk Quantification Models
Actionable, Objective Business-Relevant Metric
Comprehensive Data Acquisition and Augmentation
Enhanced Cyber Risk Business Impact Analysis (BIA)
Stop looking at security scores and start looking at their financial impact.
Speak with a product expert about how to quantify cyber risk,
build resilient security programs, and increase confidence within your organization.
