BALTIMORE, Md., March 23, 2016 (GLOBE NEWSWIRE) -- via PRWEB - PivotPoint Risk Analytics announced today that Business Insurance has named CyVaR, the company's Cyber Value-at-Risk analytics solution, as a winner of the 2016 Innovation Awards. The award program recognizes products and services designed for use by professional risk managers. CyVaR was one of 10 products selected by an independent panel of risk managers.
The Innovation Award winners were introduced during a luncheon at the annual Risk Management Summit on March 22 at the Westin Times Square in New York City. The award-winning products and services are also profiled in the March 14 issue of Business Insurance at http://www.businessinsurance.com/article/20160313/NEWS06/303139987.
According to a recent survey from the Depository Trust & Clearing Corporation (DTCC), 77 percent of North American risk managers identifying cyber risk as a top-five worry. In the face of mounting financial losses, legal battles, regulatory demands and limited security budgets, Risk Managers are challenged to answer the tough questions from their CEOs and Boards of Directors such as: What is the potential business impact of a cyber breach to our most important assets? How do we optimize and justify our security investments? How do I know that we've actually lowered our risk exposure? Which insurance policies are best suited to our business?
CyVaR is the first solution to address the industry need to financially quantify cyber risk. By predicting the cost of successful cyber breaches to an organization and translating risk into the common language of business – dollars and cents – risk managers can ensure they have secured the value of the business while achieving optimal ROI from their security investments.
"This recognition by the respected Business Insurance publication and panel validates our belief that CyVaR is a game changer for risk managers who are on the hot spot to reduce cyber risk while maximizing ROI. We look forward to driving this important industry discussion," said Julian Waits, CEO, PivotPoint.
About PivotPoint Risk Analytics
PivotPoint is the leading provider of cyber risk analytics that measure Cyber Value-At-Risk. In a world where conventional wisdom says you will get hacked, you bought one of everything to try to thwart the attack and protect your crown jewels. And as the threat--and business evolves--so does your cyber risk. Our customers, on any given day, can prove they have lowered the company's cyber risk to secure the value of their business. Visit PivotPoint at http://www.pivotpointra.com, Twitter or LinkedIn.
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