Cyber Risk Quantification with Citalid
Verlingue Cyber Risk Quantification
Cyber attacks are now among the most significant risks facing businesses. But how high is your company’s actual exposure? And what financial impact could a ransomware attack or data loss have on your business? With our new Cyber Risk Quantification service, we are taking our cyber advisory services one step further. Together with Citalid, we can assess cyber risks not only qualitatively, but also quantify them and translate them into tangible financial terms.
Translating cyber risks into financial figures
Citalid combines up-to-date cyber threat intelligence with advanced models, simulations and AI-supported analyses. Factors taken into account include the company’s industry, geographical activities and relevant attack scenarios.
This makes it possible to analyse questions such as:
- Which cyber scenarios are particularly relevant to the company?
- How likely is a successful attack?
- What financial losses could result?
- Which security measures can reduce the risk?
- Is the selected insurance limit appropriate?
Complex cyber risks can therefore be translated into financial figures, making them easier to compare and understand for executive management, CFOs, Risk Management and IT.
From industry benchmarking to individual risk analysis
Verlingue’s new service has a modular structure and can be used according to the company’s starting point and information requirements.
An industry analysis provides an initial assessment of cyber risks based on comparable companies and can, among other things, serve as a basis for evaluating the appropriate insurance limit.
An external vulnerability scan can also be used to analyse a company’s externally visible IT infrastructure. Publicly accessible systems are assessed against technical security criteria and industry standards.
For a more in-depth assessment, the company report provides an individual analysis based on a detailed questionnaire. Potential financial losses resulting from ransomware or data loss, for example, can be simulated and specific areas for action identified.
A sound basis for prevention and insurance
Cyber Risk Quantification provides greater transparency regarding a company’s actual risk exposure. This creates a sound basis for making decisions on two key questions: Where should we invest in cybersecurity, and how much risk should we insure?
Companies can prioritise security measures more effectively while assessing whether their existing insurance cover – and particularly the selected insurance limit – is appropriate for their actual financial exposure.
Cybersecurity therefore becomes more than a technical issue: it becomes an integral part of holistic risk management.
How high is your cyber risk?
With Cyber Risk Quantification, Verlingue is adding a data-driven and quantitative perspective to its cyber advisory services. Our cyber specialists support you in analysing your individual risk situation, assessing potential loss scenarios and identifying appropriate prevention and insurance measures.
