Kovrr

Kovrr's Cyber Risk Quantification platform is a tool designed to enable decision makers to understand and financially quantify their cyber risk exposure. This solution caters to a range of enterprises, providing them with the means to assess and manage their cyber risk. The platform is utilized by professionals and industries, including insurance and reinsurance companies, risk managers, cybersecurity professionals, and financial institutions.

Key Features

Predictive Modeling: According to the vendor, Kovrr's platform offers predictive cyber risk modeling capabilities that leverage historical data and advanced analytics. This is intended to enable enterprises to predict the financial impact of future cyber events and make informed risk management decisions.

Insurance-Validated Risk Models: Kovrr provides insurance-validated risk models that are trusted by cyber insurers. These models can be used to quantify cyber risk across an insurer's portfolio, aiming to ensure accuracy and reliability in assessing financial exposure.

Impact-Based Modeling: Kovrr's modeling framework allows for impact-based modeling, aiming to enable enterprises to quantify the financial impact of cyber events even when the specific type of attack is unknown. The models consider multiple areas of risk to provide an estimation of potential financial losses.

Continuous Validation and Calibration: According to the vendor, Kovrr's risk models are continuously validated and calibrated to ensure accuracy and relevance. As new cyber threats emerge, the models are updated to reflect a deeper understanding of event footprints, technology involved, and infection patterns.

Breadth and Depth of Data Sources: Kovrr leverages a wide range of data sources, including publicly available data, cybersecurity data partners, proprietary data from insurers, and anonymized data from enterprises. This comprehensive approach aims to strengthen the risk models and provide a holistic view of the cyber risk landscape.

Data Flywheel: According to the vendor, Kovrr's platform creates a data flywheel by facilitating data flow between insurance carriers and enterprises. Insurance carriers benefit from detailed data reported by enterprises, enhancing their understanding of financial risk. Enterprises, in turn, gain access to data from insurance companies, improving their understanding of the financial impacts of cyber attacks.

Advanced Analytics: Kovrr's platform utilizes advanced analytics to analyze and interpret data, aiming to enable enterprises to gain valuable insights into their cyber risk exposure. This is intended to help them make data-driven decisions to mitigate risk.

Scenario Analysis: Kovrr's platform allows for scenario analysis, aiming to enable enterprises to simulate and evaluate the financial impact of different cyber attack scenarios. This helps organizations understand potential vulnerabilities and develop effective risk management strategies.

Customizable Risk Assessment: Kovrr's platform offers customizable risk assessment capabilities, allowing enterprises to tailor the analysis to their specific needs and risk profiles. This flexibility aims to ensure that the platform aligns with the unique requirements of each organization.