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Howden taps cyber risk quantification platform

Howden taps cyber risk quantification platform | Insurance Business UK

Howden taps cyber risk quantification platform

Howden, the retail broking arm of Hyperion Insurance Group, has partnered with cyber risk quantification firm Cytegic.

Leveraging the latter’s Automated Cyber Risk Officer (ACRO) offering, the strategic tie-up is aimed at automating cyber risk assessment and financial impact analysis across markets. The platform uses forward-looking, contextual, and quantified global threat intelligence.   

“After researching numerous solutions and putting the Cytegic platform through a variety of challenging tests, we were able to confirm Cytegic’s unique ability to accurately quantify financial risk through its automated ACRO platform,” noted Howden’s global head of cyber Shay Simkin.

“Rapid evaluation of third-party risk and security posture optimisation can be performed automatically through the Cytegic platform, providing clients with greater efficiency and transparency. We will be able to provide a proactive partnership with customers by actively helping them understand and quantify their cyber risk.”

Commenting on the partnership, Cytegic chief executive Elon Kaplan described Howden as a global leader with extensive expertise in cyber insurance.

Excited “to drive forward the cyber insurance revolution,” Kaplan said their platform enables end-to-end cost-effective management of policies with precision, validity, and financial transparency.