Safe Security has released two assessment tools to empower organizations to make financial decisions based on their actual cyber risk. At no cost, organizations can access Safe Security’s Interactive Cost Calculator, as well as the Cyberinsurance Assessment, which are designed to enable data-driven discussions about risk and coverage requirements.
“Executive leadership from the CEO and board members, to CISOs, risk teams, and CFOs are asking questions like, ‘how much will a cyber attack cost us?’ Or, ‘how much should our cyber insurance cost?’ Today, those leaders either do not have a financial figure at all or possess a financial figure from a ‘black-box’ approach that they can’t explain or trust,” said Saket Modi, co-founder and CEO of Safe Security.
“Based on our research, Safe Security is offering organizations the opportunity to understand the financial impact of a cyber attack with full visibility into how the assessment is calculated so you can trust and explain the numbers. Knowledge is power, and our mission is to arm you with an unbiased assessment that can be used for risk discussions and insurance negotiations.”, Modi continued.
Interactive Cost Calculator for cyber attacks
Safe Security’s Interactive Cost Calculator for cyber attacks is a free calculator that enables organizations to understand their potential financial risk due to a cyber attack, such as ransomware. The assessment gathers specific inputs about the company, and provides a cost estimate based on Safe Security’s cost model that takes into account cost drivers associated with security incidents. The output can be customized to the parameters of an organization to further refine the estimate.
Safe Security’s Cyberinsurance Assessment helps companies better understand their cyber health and reduce premiums. Cyber insurance premiums keep rising despite increasing cybersecurity investments. Companies can gain specific guidance on how their cybersecurity risk posture compares to others in the same industry, how much coverage they need, and the actions they should take to ensure a successful cyber insurance renewal.
The SAFE platform runs a cyber risk assessment based on the following data points:
- API feeds from the organization’s internal technology environment
- Maturity of the organization’s cybersecurity policies and products