Webinar Recap: Unlocking the Power of Cyber Risk Quantification

Axio’s Brendan Fitzpatrick and Matt Bradfield recently shared insights on the latest features of the Axio Quantification product. In a webinar that walked through the product and our methodology behind it, attendees were given a demo that showed just how quick Axio’s product provides value to organizations.

Axio is committed to providing companies with quality solutions that are easy to use. When looking at cyber risk quantification, Axio follows three rules of thumb:

1. CRQ should be easily performed. It should not require a statistics degree, and there should be no “black box” element to it
2. The results should be explainable & defensible. Our products show their work. Formulas are shown in the platform making them easy to defend.
3. And lastly, each step of the process should be informative. Users are walked through the whole risk lifecycle, allowing them to better understand the impacts.

We encourage you to watch the recording of the webinar to learn more about our methodology and the product. In the meantime, below are a few key insights from the webinar.

Webinar Highlights:

• Cyber risk quantification is crucial in not only understanding the cost of events, but in prioritizing and rationalizing your cybersecurity investments. CRQ fuels data-driven decisions allowing organizations to get the best “bang for their buck”, as Brendan described in the webinar.
• Impact-oriented cyber risk quantification with Axio follows a 5-step process. Identifying mission-central business functions, analyzing risks associated with these functions, responding with controls that most effectively reduce the impact, managing through refining and iterating risk analysis, and then communicating these risks in business terms to board members.
• Quantification through decomposition is the key to explainable values. Simply stating that a cost is what it is because “data supports it” is not enough. Show the math. Showing that you arrived at that number based on anticipated time needed multiplied by an agreed-upon hourly rate is far more sufficient, and that is where Axio shines.
• Our new Quantification Wizard Tool is aimed at meeting organizations where they’re at. Users are asked a set of questions about their organization to more accurately calculate impacts, but the platform is equipped with pre-populated values to fill in any gaps you might have. If you can’t answer a question, we’ve got you covered.

At its core, Axio’s Quantification tool is leading the charge on making Cyber Risk Quantification accessible to all organizations. It meets organizations where they’re at, it fills in the gaps, and it provides scenarios with impacts using the initial questions filled out. Organizations can revisit inputs they didn’t originally have, they can add/drop different scenarios provided based on their situation, and they can better understand their risks without needing to invest time and resources that they don’t have.

Want to learn more? Click here to set up time to talk with our team!