Arx Nimbus Joins in Newly-launched Tech Data RECON Security Suite, Providing the First Insurance-grade Cybersecurity Risk Valuation Platform
Arx Nimbus is proud to be selected by Tech Data, the world's leading end-to-end distributor of technology products, services and solutions, be one of the initial innovative cybersecurity solutions in the Tech Data RECON™ Security Suite. Developed around actuarial principles and formal econometrics, the RECON Risk offering has been used in banking, national defense, healthcare and higher education - supporting cyber insurance decision-making, transparency and traceability in the cyber program, risk reduction, cyber investment optimization and compliance attainment.
CHICAGO, Jul. 25, 2018 /PRNewswire-PRWeb/ -- Developed collaboratively by a team of accomplished mathematicians and cybersecurity experts, RECON Risk is a first-of-its kind cyber risk analysis platform to financially value risk across the full threat surface, including central data systems, internet of things (IoT), shadow IT, recently acquired entities, cloud, mobile technology and outsourced systems. RECON Risk adheres to regulatory requirements from the National Institute of Science and Technology (NIST), the Department of Health and Human Services, Department of Energy, and U.S. Treasury. It incorporates automated scanning, trend line analysis, and back-testing of risk dynamics against actual threat patterns in relation to the subject company's specific vulnerabilities.
RECON Risk allows senior leadership to have real financial understanding of the risk effects of the cybersecurity program. By providing "what-if" analysis for budgetary and cyber investment options, RECON Risk optimizes cybersecurity strategies and directions and their relative risk-reduction capabilities and provides the complete linkage of the relationships between the key cybersecurity dimensions of threats, risks, vulnerabilities and capabilities, and provides documented traceability of key cybersecurity functions in support of internal audit, legal preparedness, compliance processes and M&A due diligence. "We see the need for reliable, mathematically-sound measurement of cybersecurity risk in financial terms." said Arx Nimbus CEO, R. David Moon. "Cybersecurity regulators are calling for insightful, objective measurement of cybersecurity risk, not simply a product of expert opinion, and now this is finally attainable as part of Tech Data's outstanding RECON Security Suite."
RECON Risk provides an independent, unbiased profile of the detailed sources and effects of the cybersecurity dynamics of the organization including a self-insurance price to help frame key decisions around the cost of specific cyber risks, and valuation of cybersecurity insurance policies. Developed with economist and actuarial practitioners, RECON Risk provides a mathematically based core valuation engine that unlike conventional solutions, is not based on professional judgment or expert opinion. For organizations faced with cybersecurity risk, RECON Risk provides financial valuation of their aggregate risk, and for the financial risk associated with specific vulnerabilities. "We are proud to work with Arx Nimbus to make this groundbreaking risk analysis product part of Tech Data's RECON Security Suite," said Alex Ryals, vice president, Security Solutions, Tech Data. "A realistic, data-driven profile has long been unattainable within the enterprise, and RECON Risk puts these actionable cyber risk insights within reach for any organization."
For the first time, cybersecurity, financial and risk professionals are able to see the risk-reduction impacts of alternative cybersecurity capabilities, budgets and prospective investments. The National Association of Corporate Directors said: "Board-Management discussions about cyber risks should include identification of which risks to avoid, which to accept and which to mitigate or transfer through insurance." The European Union in its GDPR requirements said: "Risk should be evaluated on the basis of an objective assessment, by which it is established, whether data processing operations involve a risk or a high risk." The US Securities and Exchange Commission said: "Cybersecurity risks pose grave threats to investors, our capital markets and our country. Controls and procedures should enable companies to identify cybersecurity risks and incidents, assess and analyze their impact on a company's business, evaluate the significance associated with such risks and incidents, provide for open communications between technical experts and disclosure advisors, and make timely disclosures regarding such risks and incidents."
About Arx Nimbus
Arx Nimbus is a SaaS Software company that provides quantified analysis of cybersecurity defense, governance, compliance and risk reduction for organizations in every industry. Through its' Thrivaca / RECON Risk products, Arx Nimbus provides independent insurance-grade analysis of available options in addressing cybersecurity threats, risks, vulnerabilities and capabilities. To find out more, visit http://www.arxnimbus.com or follow us on Twitter, LinkedIn and YouTube
About Tech Data
Tech Data connects the world with the power of technology. Our end-to-end portfolio of products, services and solutions, highly specialized skills, and expertise in next-generation technologies enable channel partners to bring to market the products and solutions the world needs to connect, grow and advance. Tech Data is ranked No. 83 on the Fortune 500® and has been named one of Fortune's World's Most Admired Companies for nine straight years. To find out more, visit http://www.techdata.com or follow us on Twitter, LinkedIn and Facebook.
SOURCE Arx Nimbus LLC
Share this article