Axio announced a new joint initiative with Cyentia Institute, a research and data science firm with a mission to advance knowledge in the cybersecurity industry. Together, Axio and Cyentia will deliver Cyentia’s cyber incident analysis to Axio customers.
Cyentia’s research in the Information Risk Insights Study (IRIS) series is widely-regarded in the cyber risk community. Cyentia’s IRIS leverages a massive dataset of historical incidents to provide data-driven frequency and losses estimates. Coupling this data with Axio’s platform Axio360 and cyber risk expertise provides Axio customers with the most accurate and defensible cyber risk quantifications.
Axio360 enables organizations to evaluate and transfer risk capital using an optimal balance of financial and security controls. The platform has a complete suite of features to assess, manage, and plan cybersecurity improvements. Axio360 customers have successfully used the platform to quantify cyber threat scenarios beyond the financial impacts of a data breach, such as physical disruption and complex business operations.
“Axio’s mission is simple – to be the easiest and most defensible cyber risk management product on the market,” stated Nicole Sundin, CPO for Axio.
“With Axio360, teams can quickly and effectively quantify cyber risks, rapidly providing actionable, defensible, and transparent insights.” Axio’s Brendan Fitzpatrick, Vice President, Cyber Risk Quantification Modeling, continued, “From my firsthand experience working with our clients, adding Cyentia to that mix makes our leading offering even better. Their rich analysis of industry-specific incident probability and impact data drives confidence throughout a company in understanding the actual potential impact of a cyber incident, taking the guesswork out of it. Security professionals can now present risk-driven business decisions based on data that give executives and boards confidence,” added Sundin.
“I’ve advocated for many years that better risk data will lead to better risk decisions and defenses,” says Dr. Wade Baker, Co-Founder of Cyentia. “We demonstrated that principle with the IRIS research, and I’m thrilled that Axio is enabling organizations to benefit from the underlying data in a powerful way.”