Derive Revolutionizes Cybersecurity Risk Assessment
FOR IMMEDIATE RELEASE
October 23, 2023
CONTACT:
David Oglethorpe
VP, Communications
Hive Systems
804-396-4720
mediarelations [at] hivesystems.io
Derive Revolutionizes Cybersecurity Risk Quantification
The cyber risk quantification platform announced its formal launch this week.
Seeking to reduce the complexity of completing cybersecurity risk assessments, Derive announced the launch of its new cyber risk modeling web app today. The platform uses UI/UX design backed by decision sciences research and the world’s first application of Bayesian methods for modeling cybersecurity loss event probabilities and loss magnitude.
By leveraging probabilistic programming Derive is able to use what little industry data on cybersecurity incidents is available and fill in the gaps by applying well known mathematical principles and a structured logical inferential framework.
“We found that most companies struggle to move to cyber risk quantification assessments over traditional qualitative ones,” Derive co-founder Alex Nette said. “We built Derive to help accelerate that effort because we found that if companies are moving to a data driven assessment, then they want better data to be input in the first place. Derive’s Bayesian model provides that velocity they need to succeed.”
Crafted by seasoned cybersecurity professionals, Derive dramatically reduces the time it takes to complete a cyber risk quantification-based model, allowing companies to see results sooner. As a single, powerful platform with an ever growing industry dataset powering it, Derive:
Accurately connects the dots between investments in, and the effectiveness of, cybersecurity controls;
Makes the case for cybersecurity investment allocation, quantifies whether and when the risk reduction of a new tool outweighs the cost, and assists in properly scoping cyber insurance policies for holders and underwriters; and
Reduces the time and number of inputs required to initialize and maintain cyber risk assessment models, and sustainably update them in real-time as new cybersecurity incidents are disclosed.
“Derive brings credibility and transparency to cybersecurity,” said Corey Neskey, Co-Founder of Derive.
The newly launched platform is backed by the knowledge and experience of experts from Hive Systems, a leading cybersecurity product and services provider.
“We’ve spent the last year building and using Derive ourselves to deliver the fastest path to adopting the future of cyber risk assessment,” Neskey said. “Over the next 12 months, we’re excited to expand the platform to include additional information sources and integrations with other popular cyber governance tools.”
To learn more, visit deriverisk.com
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About Derive
Derive is the leading cyber risk quantification (CRQ) platform helping to reshape the cybersecurity landscape, empowering businesses with clarity, accuracy, and confidence in their cybersecurity investment decisions and ensuring resilience. We’re aiming to eradicate the guesswork and gut-feeling risk assessments, enabling boardrooms and cybersecurity teams to make informed and rightsized cybersecurity investments, ensuring optimal business resilience.
