Company forms to quantify cyber risk
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PivotPoint Risk Analytics on Tuesday announced its launch and the rollout of a tool that quantifies cyber risk.
The Baltimore-based cyber risk analytics firm, a spinoff of Baltimore-based cyber security provider CyberPoint International, will be led by President and CEO Julian Waits, PivotPoint said in a statement.
CyVaR, PivotPoint’s cyber risk quantification tool, “applies advanced cyber threat models to statistical techniques for determining cyber value-at-risk,” the company said in the statement. It addresses “the critical data gap” required to measure potential losses from cyber attacks and help chief information security officers and business leaders improve cyber investment decisions and reduce cyber risk, according to the statement.
“We believe the biggest threat to organizations today is the fuzzy picture of cyber risk that leads to misguided security investments. Throwing more money at security doesn’t make you more secure,” Mr. Waits said in the statement. Chief information security officers “can’t protect everything, but they can protect the assets most important to the company and secure the value of the business. PivotPoint was founded to change the way we think about cyber and commercialize the first technology to make security a boardroom level discussion.”
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