Squalify Unveils Essential CRQ for Fast Financial Cyber Risk Assessment

Squalify Launches Essential CRQ for Rapid Financial Cyber Risk Assessment

Squalify, recognized as a leader in cyber risk quantification (CRQ), has just unveiled its innovative product, Essential CRQ. This new offering is designed to provide organizations with a clear, speedy methodology for quantifying their cyber risks in financial terms, boasting the capability to deliver results in as little as 24 hours. What sets Essential CRQ apart from other offerings is its simplicity—requiring only a minimal set of inputs.

The effectiveness of Essential CRQ is built on Squalify’s extensive experience spanning over 15 years in handling cyber risk data, which has been further bolstered by their collaboration with Munich Re, one of the most prestigious cyber reinsurers globally. This partnership ensures that users of Essential CRQ gain access to credible and reliable data, providing them with the ability to measure their cyber risks accurately. The insights generated by Essential CRQ are particularly valuable for benchmarking cyber risk exposure, aiding in insurance decision-making, and providing robust reports suitable for board-level discussions.

In the ever-evolving landscape of cyber threats, Squalify’s Essential CRQ presents a solution that marries speed with credibility. Asdrúbal Pichardo, CEO of Squalify, emphasized the product's utility, stating, “Organizations no longer have to choose between speed and credibility... a clear financial view of cyber risk without months of data gathering, complex spreadsheets, or opaque assumptions.”

Core Features of Essential CRQ

Essential CRQ streamlines cyber risk quantification through only 42 targeted data points. Using Monte Carlo simulations, the tool generates critical core financial risk metrics, such as worst-case loss scenarios, annual loss expectancy, and breakdowns of loss components. It also assesses whether the security controls in place are adequate relative to the organization’s exposure. This comprehensive analysis allows firms to understand their cyber risk posture with unprecedented clarity and supports decision-making at an executive level.

Moreover, Essential CRQ seamlessly integrates into existing advisory and brokerage processes for cyber insurance brokers, enhancing their ability to serve clients. Leopold Muhle, a leading broker at KROSE, has recognized the value this tool brings, noting how it allows them to provide tailored coverage to clients based on precise quantification of their cyber risks.

Transition to Advanced Capabilities

For organizations seeking to deepen their cyber risk understanding, Essential CRQ serves not only as a standalone tool but as a natural on-ramp to Squalify Enterprise CRQ. The Enterprise version adds advanced capabilities, such as identifying high-return security control investments, running decision-impact simulations, and managing multi-entity cyber risk steering. Additionally, clients gain optional API access and expert support throughout both offerings, enhancing the usability of the Squalify platform.

As Squalify continues to expand its market presence, particularly following its recent growth in the U.S. and Europe, it remains committed to transforming qualitative cyber risk discussions into actionable insights. This transition to financial accountability empowers organizational leaders with data-driven decision-making capabilities grounded in solid evidence.

For more detailed information on Squalify and its Essential CRQ offerings, please visit squalify.io.

About Squalify

Squalify is a top-down cyber risk quantification platform that translates complex cyber threats into clear and actionable financial insights. Backed by Munich Re, Squalify provides chief information security officers, chief risk officers, chief financial officers, and risk leaders with consistent and defensible metrics on enterprise-wide cyber risk—enabling them to make informed decisions and optimize governance. The platform is tailored to assist organizations across various sectors, including healthcare, finance, manufacturing, insurance, retail, automotive, and technology, in aligning their cybersecurity strategies with business objectives.

For updates and insights, follow Squalify on LinkedIn.