The cybersecurity industry is increasingly turning its gaze towards parametric solutions, data-driven models that promise a more quantifiable and scalable approach to managing digital risk.
With the average organisation now facing over 1,800 cyber attacks per week globally in late 2024 – a staggering 75% year-on-year increase – and the financial fallout projected to reach $15.63 trillion annually by 2029, the need for innovative risk management is critical. Even the cost of insuring against these threats is a significant consideration, with small UK businesses facing average cyber insurance premiums of around £1,400 annually, a figure that can fluctuate wildly based on risk profile and the amount of data handled.
Parametric models offer the allure of objective risk assessments, faster incident response triggered by predefined thresholds and potentially even predictive capabilities. However, can these rigid frameworks truly account for the cunning and adaptability of modern cyber adversaries? Are we in danger of prioritising easily measurable metrics over the nuanced understanding of attack vectors and motivations?
Our expert panel explores the practical…
