Why Cyber Risk Quantification?

Cyber Risk Quantification (CRQ) measures cyber and operational risk and puts a monetary value on the potential impact of each prospective threat like Ransomware, DDoS or a Breach, to make it easier to understand and communicate the financial impact of the risk.

Business Benefits of Cyber Risk Quantification Across the Organization

Gain a better picture of how to prioritize each threat as well as a more precise way to communicate the risk to the broader organization, ultimately making better business decisions by focusing efforts and budget on mitigating the highest-impact risks.

C-Suite - Show risk in financial terms to justify decisions and budgets

C-Suite

Communicate risk in financial terms to justify decision-making and budget prioritization to the board and stakeholders.

CISO - Prioritize risk by financial impact to enable confident, cost-effective decisions

CISO

Prioritize risk based on financial impact and make cost-effective, informed decisions confidently.

Risk Analysts-Simulate threats and share top risks with management easily

Risk Analysts

Conduct unlimited risk simulationsto identify highest impact threat and communicate that risk easily to management.

Not all Risk Management Questions are Risk-Based:

  • How urgent is it that I act to mitigate an issue?

  • Which solution is most effective?

  • What should budget or cyber insurance levels be?

  • How do different elements within my organizations cooperate to manage risk?

  • Are my solutions “worth it”?

  • What is my control efficacy?

  • What amount of capital do I need to have on-hand?

  • How important is patching this vulnerability?

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Cyber Risk Quantification Improves all Facets of Risk Decision-Making

Cyber Risk Quantification improves Communicability & Tangibility

Communicability & Tangibility

Cyber Risk Quantification improves Confidence & Transparency

Confidence & Transparency

Cyber Risk Quantification improves Quality & Outcomes

Quality & Outcomes

Cyber Risk Quantification improves Objectivity & Defensibility

Objectivity & Defensibility

Cyber Risk Quantification improves Consensus & Acceptance

Consensus & Acceptance

Hidden Ops Costs of scoring - Cyber Risk Quantification

Hidden Ops Costs of “Scoring”

Common Cyber Risk Quantification Use Cases

Consistently communicate cyber risk -Cyber Risk Quantification Use Cases

1

Consistently communicate cyber risk

Prioritize cyber risk based on financial impact - Cyber Risk Quantification Use Cases

2

Prioritize cyber risk based on financial impact

Aid security budget prioritization -Cyber Risk Quantification Use Cases

3

Aid security budget prioritization

Benchmark against industry peers - Cyber Risk Quantification Use Cases

4

Benchmark against industry peers

Measure cyber risk over time - Cyber Risk Quantification Use Cases

5

Measure cyber risk over time

Determine appropriate cyber policy coverage - Cyber Risk Quantification Use Cases

6

Determine appropriate cyber policy coverage

Conquering the CRQ Resistance

Conquering the CRQ Resistance: You don’t have to know it all

  • Does not require all the data - CRQ Resistance Does not require “all” the data
  • Does not require all the data - CRQ Resistance Can add value without any “data”
  • Does not require all the data - CRQ Resistance Expects input to be uncertain
  • Does not require all the data - CRQ Resistance Expects organizations will lack visibility and knowledge
  • Does not require all the data - CRQ Resistance Will always improve decision-making
  • Does not require all the data - CRQ Resistance Can be tailored to meet you where you are at
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How Birdseye™ Can Help You:
Quantify risk through scenario complexity.

Leverage the full Open FAIR™ ontology with no usage restrictions to simulate risk scenarios.

Birdseye Quantify is a SaaS solution that uses a model of frequency and magnitude along with process, data, and math (Monte-Carlo Simulations) to reduce risk, risk exposure and risk mitigation for effective cyber risk program management.

Benefits of Birdseye Quantify:

Complete Open FAIR™ ontology that gives you control and flexibility to build risk scenarios as complex as you need to - you choose the level of depth based on the analysis you want to do and the data available to you.

Unlimited threat scenarios-simulations specific to industry segment and organization size that enable you to compare options for addressing the risk, measure the acceptability of each outcome, and find the solution with the highest ROI to manage cyber risk from the business perspective.

Report on the financial impact of risk to help make informed decisions, aid prioritization, justify budget, communicate to management, stakeholders and decision-makers including the CFO.

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Benefits of Birdseye Quantify - Cyber Risk Quantification
Birdseye Quantify: Simulate risks to assess financial impact by industry and organization size

Birdseye Quantify: Powered by Birdseye Analytics

Simulate unlimited risk scenarios specific to industry segment and organization size to quantify the cyber and operational impact and convey that risk in financial values.

  • Statistical analysis - Birdseye Quantify Integration to Advisen™ curated historic loss claims data offers:

    • Statistical analysis - Birdseye Quantify Statistical analysis

      • Statistical analysis - Birdseye Quantify Number and frequency of loss claims

      • Statistical analysis - Birdseye Quantify Magnitude of loss claims

    • Statistical analysis - Birdseye Quantify Suggested probabilities for:

      • Statistical analysis - Birdseye Quantify Loss Event Frequency

      • Statistical analysis - Birdseye Quantify Loss Event Magnitude

  • Statistical analysis - Birdseye Quantify Industry benchmarks with Peer Insights to understand your industry’s Annual Loss Expectancy (ALE) and compare with your risk scenario simulation results.

How it Works: Birdseye CRQ Simulator

  • Pick from a default risk scenario library or create your own

    Pick from a default risk scenario library or create your own

  • Support the full Open FAIR ™ ontology with no usage restrictions

    Support the full Open FAIR ™ ontology with no usage restrictions

  • With Birdseye Pro you have the option to use suggest probabilities during risk scenario scoping

    With Birdseye Pro you have the option to use suggest probabilities during risk scenario scoping

  • Pick from a default risk scenario library or create your own

    Pick from a default risk scenario library or create your own

See Birdseye Quantify in Action, Schedule a Demo Today

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Cyber Risk Quantification