Combines deep business impact analytics with cyber risk analytics to improve the effectiveness of boardroom cyber risk governance in the escalating cyberwar
LOS ANGELES, CA, USA, April 27, 2021 /EINPresswire.com/ — Digital Directors Network (DDN), the pioneer in improving digital and cybersecurity risk oversight in the corporate boardroom, today announced the availability of DDN’s Cyber Impact Analytics (CYIA) service. DDN’s Cyber Impact Analytics service is the first board-level solution addressing the need for corporate directors to understand the financial impacts of cyber risk.
CYIA helps directors understand and govern three critical issues surrounding cyber risk:
1. What’s the company’s current projected financial exposure to cyber risk?
2. How will different cybersecurity activities and changes in cybersecurity spending impact our financial exposure?
3. How effective is our boardroom approach to digital and cybersecurity risk oversight?
DDN’s Cyber Impact Analytics solution leverages critical elements of the DDN DiRECTOR™ framework for governing systemic risk in complex digital business systems and the power of X-Analytics, the premier cyber risk decision support application used within the cyber insurance industry and Fortune 500 companies to manage the financial exposures surrounding cyber risk effectively.
The CYIA solution will calculate the projected business impact of cyber risk and grade boardroom policies and practices on digital and cybersecurity risk oversight against leading market practices. DDN will also be adding a CYIA Masterclass to their market-leading curriculum on digital and cybersecurity risk oversight for technology executives and corporate directors.
With the CYIA solution, DDN and X-Analytics will provide the boardroom with rapid economic impact assessments on cyber risk to help corporate directors assess what’s at stake financially due to their unique cyber risk profile. Rapidly escalating cyber insurance premiums and tightening coverage terms are forcing corporate boards and companies to better understand the economic impacts of cyber risks as they are beginning to realize that they are mainly self-insured against the impacts of cyber risk.
“Corporate boards need to understand the business impact of cyber risks as they are largely self-insured for cyber exposures, especially with catastrophic cyber risks,” said DDN Founder and CEO Bob Zukis. “And corporate boards need more than just cyber threat and detection metrics. They need to know the potential financial impact of their company’s cyber risk profile. Using financial analytics to convert a highly technical conversation into a business conversation delivers the relevant business context required for boards to govern this complex and expanding risk area,” he added. Zukis is also a USC Marshall School of Business Professor, where he teaches corporate governance and strategic management.
DDN’s Cyber Impact Analytics service leverages the power of X-Analytics to provide the deep insights corporate boards need to govern cyber risk effectively. Together DDN and X-Analytics will enable boards to:
1) Understand cyber threats and their potential economic impact in financial terms.
2) Have visibility into the self-insured risk exposures of the company.
3) Optimize their cyber risk mitigation and transfer strategies, including their corporate governance approach.
“DDN has established a leadership position delivering effective board level education and governance advisory services on the complex issues involved with the oversight of systemic cyber risk,” said Kevin Richards, President, Cyber Risk Solutions at SSIC, the innovators behind X-Analytics. “Companies can now reduce their uncertainty around these issues and fully implement a comprehensive risk management strategy and plan that is unique to the cyber risks and financial exposures that their organization faces.”
About Digital Directors Network (DDN)
Digital Directors Network (DDN) is the pioneer in advancing how corporate boards govern digital and cybersecurity risk oversight, including systemic risk. DDN certifies technology executives and directors as board Qualified Technology Experts (QTE’s) against DDN’s DiRECTOR™ framework. The only model that is helping companies govern systemic risk in their complex digital business systems. DDN’s members are innovative corporations, directors, CEOs, CIOs, CISOs, and other executives working to advance the practice and profession of digital and cybersecurity risk oversight. To learn more about DDN, please visit www.digitaldirectors.network.
Based in the Washington, D.C. area, Secure Systems Innovation Corporation (SSIC) is a cyber risk analytics firm whose mission is to improve how businesses manage financial exposure to cyber risk through the power of data analytics. X-Analytics is a patented and validated cyber risk decision support platform changing how executives, boards, and the risk management industry understand and manage cyber risk. For more information, please visit www.x-analytics.com.