DeNexus launches Version 5.3 of its cyber risk platform

DeNexus announces the launch of Version 5.3 of its DeRISK Platform to help improve cyber risk modelling capabilities for reinsurers and the insurance-linked securities (ILS) sectors.

DeRISK 5.3 is described as an evidence-based, data-driven cyber risk quantification and management tool that aims to help the risk transfer community better understand, mitigate and transfer the risks associated with cyber breaches.

DeNexus’ cloud-based technology extracts data directly from an industrial organisation’s internal Operational Technology infrastructure, which increases the accuracy in determining the financial impact of a cyber event, the company explains.

This helps re/insurers and ILS investors commit appropriate risk capacity and develop better solutions to cover cyber risk.

Jose M. Seara, Chief Executive Officer of DeNexus, commented: “Insurers, reinsurers and ILS investors need to have confidence in cyber data in the underwriting process, in order to create new cyber offerings with confidence,”

“The updates to the DeRISK platform were driven by the dynamic nature of cyber risks and give the risk transfer community the ability to better quantify and manage cyber risk…