This collaboration aims to empower CISOs, Risk Managers, and C-level executives to translate cyber risk into financial terms quickly. Citalid’s CRQ Platform enhances the FAIR methodology and surpasses traditional CRQ solutions, utilising Citalid’s proprietary Cyber Threat Intelligence and Artificial Intelligence simulations for accurate and automated risk estimation.
Maxime Cartan, Co-Founder and CEO of Citalid, said, “This partnership with Zyber is a testament to our shared vision to push the boundaries of cyber risk management. It marks a significant milestone for Citalid, as we extend our industry-leading CRQ solutions to the US market to meet the evolving demands of US businesses in a rapidly changing regulatory environment.”
As cyber threats continue to evolve in frequency and complexity, organisations face mounting pressure to strengthen their cybersecurity defenses. Chief Information Security Officers (CISOs) are increasingly challenged not only to decide where to allocate limited cybersecurity resources but also to communicate cyber risk in financial terms to the board. This task has become even more critical following a recent US Securities and Exchange Commission (SEC) regulation that mandates companies to disclose significant cybersecurity incidents within 72 hours, requiring a new approach to cyber risk management.
Open FAIRTM (Factor Analysis of Information Risk) is widely regarded as the gold standard for breaking down cyber risk into loss event frequency and magnitude. It is adopted by leading consulting firms and a substantial number of risk managers globally. However, calculating these metrics manually, often based on subjective analyst assessments, has led to concerns about whether the time and effort required to implement FAIR are justified.
Amri Tarsis, Co-Founder and CEO of Zyber Insurance, concluded: “We decided to partner with Citalid because they go beyond, utilising a unique Cyber Threat Intelligence to drive frequency estimations, automatically simulating the susceptibility of an attack with AI-based modeling, and leveraging years of historical insurance claims enriched with their exclusive Bayesian algorithm to estimate the magnitude of losses. CISOs can have a preliminary calculation in minutes and then improve accuracy with follow-up in-depth analysis based on FAIR.”
