NEW YORK, Feb. 4, 2020 /PRNewswire/ -- Cytegic, a revolutionary leader in automating cyber risk quantification for the insurance industry and enterprise organizations, announces its strategic partnership with Lowers Risk Group, LLC to accelerate the industry's adoption of an end-to-end cyber insurance solution leveraging Cytegic's robust cyber risk quantification platform compounded with Lowers' industry expertise and operations as a global forensic accounting firm, third-party claims administrator and global enterprise risk mitigation and loss prevention leader.
"Lowers Risk Group adds a new dimension to Cytegic's capabilities and footprint given their extensive human and intellectual capital that will help Cytegic continue to position itself as an innovator and leader in quantifying cyber risk," states Steven Schwartz, Vice President, Strategy & Insurance at Cytegic. Schwartz adds, "By leveraging the combined industry expertise that have been embedded into our proprietary platform, we're able to integrate a robust, quantified risk analysis as part of the core cyber insurance underwriting and application process. This is an industry first enabling both the insurance industry and traditional enterprise risk management to better support fact-based decision making to prioritize and invest in capabilities that address real risks while effectively communicating across the business."
"Cytegic and Lowers Risk Group collectively embrace the use of technology to enhance the customer experience while meeting the complex needs of managing digital risks in today's operating environment," comments Joe Scarlato, President, Emerging Markets and Technology at Lowers Risk Group. "Understanding that digital risks require an integrated risk management solution, Cytegic leverages an easy-to-use application which automatically integrates an organization's relevant threat landscape against the defensive security posture so business leaders finally have the clarity needed to prioritize their efforts on real risks facing their business. Beyond real-time underwriting capabilities that displace the paper-based cyber insurance application, Cytegic's technology also offers customers and partners of Lowers' the ability to perform thousands of simulations of different threat scenarios and investments in security solutions that help business executives optimize the spend between risk mitigation and risk transfer."
"Cytegic is excited about the partnership and forthcoming solutions with Lowers, a global leader in enterprise risk management. We have a truly unique opportunity to help organizations and insurance companies understand, underwrite and undertake cyber risk management," remarks Elon Kaplan, Founder & CEO of Cytegic. "As cyber risk quantification continue to become a key pillar in cyber risk management and resilience, we're looking forward to elevating all stakeholders in our interconnected, dynamic digital world."
About Cytegic: Cytegic's revolutionary cyber risk quantification platform is the industry's first end-to-end solution automating cyber risk management and quantifying its financial impact across the entire insurance and risk value chain. After 25+ man-years of R&D and 4 granted US patents, Cytegic has made groundbreaking steps in the highly challenging task of quantifying cyber risk at any level of scale, from SMB's to Fortune 500. Utilized globally by insurers, enterprises and global consulting partners, Cytegic's Automated Cyber Risk Officer (ACRO), leverages contextual, quantified global threat intelligence with internal, technologically validated defensive capabilities, to automatically identify risks to an organization's digital assets and its financial impact at any degree of granularity. We can finally talk about cyber risk as a business risk tied to dollars and ROI; and make informed business decisions. For more information about Cytegic, please visit Cytegic.com.
About Lowers Forensics International, LLC
Lowers Risk Group provides comprehensive enterprise risk management solutions to more than 1,100 organizations operating in high-risk, highly-regulated environments and organizations that value risk mitigation. Lowers Risk Group also owns and operates Lowers Forensics International, Combining nearly 50 years of industry excellence and leadership, with worldwide clients who trust our financial forensics experts to provide insurance claims accounting, litigation support, forensic accounting, and expert testimony. The company maintains offices across the globe to serve the needs of insurance companies, attorneys, and private and public entities when it comes to transforming complex financial information into clear evidence. For more information about Lowers Forensics International, visit lowersriskgroup.com.