Safe Security announces free assessments to offer financial risk calculations

Safe Security has announced two industry-first assessment tools to empower organizations to make holistic financial decisions based on their cyber risk. Organizations can access Safe Security’s Interactive Cost Calculator, as well as the Cyber insurance Assessment, which is designed to enable data-driven discussions about risk and coverage requirements, at no cost.
 

“Executive leadership from the CEO and board members, to CISOs, risk teams, and CFOs are asking questions like, ‘how much will a cyber-attack cost us?’ Or, ‘how much should our cyber insurance cost?’ Today, those leaders either do not have a financial figure at all or possess a financial figure from a ‘black-box’ approach that they can’t explain or trust,” said Saket Modi, co-founder, and CEO of Safe Security. “Based on our research, Safe Security offers organizations the opportunity to understand the financial impact of a cyber-attack with full visibility into how the assessment is calculated so you can trust and explain the numbers. Knowledge is power, and our mission is to arm you with an unbiased assessment that can be used for risk discussions and insurance negotiations.”

Safe Security’s Interactive Cost Calculator for cyberattacks is a free, tunable calculator that enables organizations to understand their potential financial risk due to a cyberattack, such as ransomware. The easy-to-use assessment gathers specific inputs about the company and provides a cost estimate based on Safe Security’s cost model that takes into account cost drivers associated with security incidents. The output can be customized to the parameters of an organization to refine the estimate further.

Safe Security’s Inside-Out Cyber insurance Assessment helps companies better understand their cyber health and reduce premiums. Cyber insurance premiums keep rising despite increasing cybersecurity investments. Companies can gain specific guidance on how their cybersecurity risk posture compares to others in the same industry, how much coverage they need, and the top actions they should take to ensure a successful cyber insurance renewal.
 

The SAFE platform runs a cyber risk assessment based on the following data points -

API feeds from the organization’s internal technology environment

Maturity of the organization’s cybersecurity policies and products