Economic cyber risk modeler Cyence names advisory board

Out from operating under the radar earlier this month, Cyence has now announced its advisory board of cybersecurity and insurance professionals.

The board is comprised of Richard Booth, Vincent “VJ” Dowling, Marc Goodman, Tom Hutton, Sean Kanuck and Barney Schauble.

Cyence said it has developed the industry’s first economic cyber risk modeling platform, quantifying cyber risk in probabilities and dollars. The company, based in San Francisco, launched from stealth on September 8.

“We are essentially modeling human behavior with technology and leveraging a combination of econometrics and machine learning to build an economic risk model robust enough for the insurance industry to deploy capital against,” said CEO Arvind Parthasarathi, in a statement. Cyence has licensed Advisen’s cyber data.

Parthasarathi said the model “is leveraged by a who’s who of the insurance industry as a competitive advantage.”

Sean Kanuck, formerly the first National Intelligence Officer for Cyber Issues and now a strategic consultant to governments, law firms, corporations and entrepreneurs, told Advisen that his relationship with Parthasarathi predates Cyence, and that he and the CEO share the same philosophy when it comes to cyber risk.

“It is not a matter of whether you are 100 percent secure or not secure,” Kanuck told Advisen. “This is not an all-or-nothing risk. It’s about mitigation, management and resilience.”