This technology model intends to empower organisations to enhance their cyber resilience, and mitigate the financial repercussions of cyber incidents.
With cyber threats evolving at an unprecedented pace and regulatory requirements becoming increasingly stringent, Zeron, a Mumbai-based cybersecurity start-up, has launched an advanced cyber-quantified model called Quantified Business Exposure to Risks (QBER) for BFSI companies.
By quantifying cyber risks in monetary terms and furnishing actionable insights, this technology model intends to empower organisations to enhance their cyber resilience, streamline operations, and mitigate the financial repercussions of cyber incidents effectively. As cyber threats continue to evolve in sophistication and frequency, organizations across industries are seeking innovative solutions to quantify and manage their cyber risk exposure effectively.
QBER offers a dynamic and holistic view of cyber risk exposure, enabling organizations to adapt swiftly to evolving threat landscapes, as per a company statement. By integrating QBER into insurance underwriting processes, credit risk analysis action insurers can tailor policies to clients' unique risk profiles, fostering a more resilient cybersecurity ecosystem.
Sanket Sarkar, CEO and Co-Founder of Zeron, said, "The escalating complexity of cyber threats and the increasing regulatory scrutiny surrounding cyber risks have created a pressing need for robust CRQ solutions like QBER. With its ability to deliver actionable insights and empower organizations to enhance their cyber posture, QBER sets a new standard for cyber risk quantification."
The upgrade by Zeron comes at a time when there is an increase in cyber threats, data loss, and extortion cases affecting businesses. In terms of cybercrimes, the country is the 80th most targeted country worldwide, as per a Kaspersky report. Another report by Cisco says that only 4 percent of companies in India are prepared to defend themselves against cyber security risks. The report also says that 82 percent of respondents said that they expect a cybersecurity incident to disrupt their business in the next 12 to 24 months.