Axio Expands on Company Momentum with New Offering and Executive Hires

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Latest Offering Helps Companies Holistically Manage Cyber Risk

Axio is at the forefront of sustainable cyber risk management. The problem can’t be solved through technology alone, nor can insurance be deployed in a vacuum.

Axio, a cyber risk engineering solutions provider that helps organizations align their security controls and policies with market leading insurance and risk management hedging strategies, today unveiled its latest offering. Axio’s Solving Cyber RiskTM platform helps companies understand and manage their cyber risk through a process that integrates exposure quantification, cyber program analysis, and insurability. The offering is designed specifically to help senior executives and Boards of Directors fulfill their risk management duties and make more effective risk reduction investment decisions.

The company also announced that it has made key additions to its executive team and advisory board, bringing on a Chief Technology Officer, Chief Scientist and VP of Cyber Risk Engineering. Axio’s new executives bring extensive leadership to the company, with a renewed focus on measuring security program improvements, as demonstrated by their work on various federal government, critical infrastructure and national defense maturity models, including the recent NIST Cybersecurity Framework. The new team members include:

  •     Jason Christopher, Chief Technology Officer: Jason has spent the past decade as an operator, researcher, and regulator of critical infrastructure. He brings significant experience in developing and implementing cyber security guidelines and standards to his role as Chief Technology Officer. Prior to Axio, Jason led security metrics and risk mitigation projects at the Electric Power Research Institute. He previously managed the sector-wide cyber incident response and capabilities program at the US Department of Energy, and led the technical cyber security regulations for the bulk electric system at the Federal Energy Regulatory Commission. Jason has worked on a variety of industrial control system and traditional information technology projects in energy, water, transportation, and telecommunication industries.
  •     Dr. Nader Mehravari, Chief Scientist: Nader has more than three decades of experience leading and performing technical, business, research, and teaching activities in aerospace, defense, telecommunications, transportation and consulting industries. Prior to Axio, Nader was with the cybersecurity research program of the Software Engineering Institute at the Carnegie Mellon University. He was responsible for technical leadership and implementation for a variety of cybersecurity and resilience management solutions and associated frameworks, diagnostic methodologies, and training programs. Nader was previously the Corporate Director for Business Resiliency at Lockheed Martin Corporation and was responsible for building and leading its business resiliency program. Before joining Lockheed Martin, Dr. Mehravari was a Distinguished Member of Technical Staff at AT&T Bell Laboratories.
  •     Brendan Fitzpatrick, Vice President, Cyber Risk Engineering: Brendan has a strong technical background in computer networking and defending large enterprise and national security networks. He previously led the Cyber Risk and Resilience Management team in the CERT Division of the Software Engineering Institute (SEI) at Carnegie Mellon University where he managed technical security engineers on continuous improvement projects for several companies and government entitites. Brendan previously served as an Army officer for over 12 years and specialized in physical security operations, intelligence collection and analysis and network security. His final assignment in the Army was with U.S. Army Cyber Command as a Senior Network Security Engineer, where he was charged with leading several initiatives to improve the security posture of Army networks, advising the commanding general on technical matters, and managing the continuity of operations programs for the organization. .
  •     Samara Moore, Advisory Board Member: Samara is a cyber security and critical infrastructure policy and protection expert, who serves as the Director of Cyber Strategy and Engagement at Exelon Corporation. She was previously National Security Staff member at the White House, responsible for the NIST Cybersecurity Framework development. Prior to the White House, Samara co-led the development of the U.S. Department of Energy’s Cybersecurity Capability Maturity Model for power system utilities.
  •     Julia Allen, Advisory Board Member: Julia is a former Deputy Director and Chief Operating Officer of The Software Engineering Institute at Carnegie Mellon University. She is the author of the CERT Guide to System and Network Security Practices and co-author of the CERT Resilience Management Model (RMM): A Maturity Model for Managing Operational Resilience. Julia also led major software development efforts for both SAIC and TRW (now Northrup Grumman).

“Organizations are recognizing that establishing a strong foundation in cyber program management and cyber insurance is the key to holistically tackling cyber risk,” said Scott Kannry, CEO of Axio. “We continue to see traction in the market by helping our customers do exactly that, and we are thrilled to be bringing on new executive team members that have strength in designing and implementing cyber risk programs at some of the largest, most respected institutions globally. They will leverage this knowledge to build solutions that help our customers continually understand their potential cyber risk, the adequacy of their insurance portfolio, and the maturity of their controls, so they can know what actions, whether security controls or insurance specific, to take to best solve for their unique cyber security risk puzzle.”

According to Samara Moore, “Axio is at the forefront of sustainable cyber risk management. The problem can’t be solved through technology alone, nor can insurance be deployed in a vacuum. Companies that can truly align multiple risk functions to reduce their cyber risk will be those can confidently claim to be managing the full scope of the potential impact. Effective risk management of today’s cyber challenges requires such an approach, and that’s exactly why I am proud to be associated with Axio as they become a premier cyber risk engineering firm.”

Axio delivers these key outcomes through a suite of services and ongoing software that provides:

  •     Exposure Quantification: Covers the entire spectrum of 1st and 3rd party financial and tangible loss scenarios, tailored to an organization’s unique security and operational controls.
  •     Ongoing Insurance Analysis and Stress Testing: Recognizes that cyber is as peril and considers the entire portfolio of property and casualty insurance purchased by the organization.
  •     Cyber Program Evaluation: Utilizes flexible and scalable maturity models, including the Cybersecurity Capability Maturity Model (C2M2), to identify current program strengths and weaknesses and establish a roadmap for improvement.

By aligning insurance and cyber security, Axio delivers a holistic approach and strong foundation to continually manage constantly evolving risk. Leveraging nationally recognized standards and frameworks, alongside experts who helped develop these standards, Axio’s output is designed to help security professionals, senior executives and Boards of Directors easily understand what’s at risk and how to manage it more effectively.

About Axio
Axio knows impenetrability is impossible—but cyber risk management maturity is within reach. We help organizations ensure that they understand their exposure, manage it effectively, and are equipped to financially recover. Axio delivers the industry’s only true cyber risk management solution that looks at IT security and financial controls/insurance to create an integrated, holistic technology and financial risk solution that is able to evolve with the client as the risk landscape shifts.

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Zenobia Godschalk
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Scott Kannry
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