DeNexus Inc, situated in Boston, Massachusetts, has reinforced its re/insurance and Insurance-Linked Securities (ILS) proficiency with the recent recruitment of George Mawdsley, a cyber risk solutions specialist from Securis Investment Partners, further fortifying the company’s capabilities in managing cyber risk.
As the newly appointed Head of Risk Solutions, Mawdsley will play a pivotal role in advancing the development of cutting-edge risk transfer solutions for the insurance and ILS markets, utilizing DeNexus’ advanced cyber risk quantification and management platform, DeRISK. Reporting to Jose Seara, Founder and CEO of DeNexus, Mawdsley brings a decade of experience, with prior roles at Hiscox in London as a Lloyd’s Special Risks Underwriter.
“Mandatory Tool”
Seara emphasizes Mawdsley’s strategic importance in DeNexus’ mission to establish a global standard for industrial cyber risk quantification. It will serve agencies, shareholders, investors, boards, and the risk transfer market. “I firmly believe that insurance is a mandatory tool for the proper management of cyber risk, and developing the secondary market and attracting alternative capital is a must for efficient cyber risk transfer solutions to develop, and for the market to scale to its full potential,” said Seara.
Mawdsley expressed enthusiasm for joining DeNexus. “They have a superior cyber risk quantification and management product, and exciting ambitions to support a cyber ILS market. I am excited to work side-by-side with DeNexus to effectively connect cyber risk with alternative capital and really make an impact on the cyber insurance market,” stated Mawdsley.
DeNexus, known for credible modeling that produces evidence-based data for quantifying cyber risk, has launched a series of cyber risk quantification models under its DeRISK platform. These aim to assist industrial organizations, underwriters, reinsurers, and ILS investors in comprehending and pricing the genuine risks associated with cyber breaches.
DeNexus recently introduced DeRISK freemium, a complimentary cyber tool designed to help industrial companies quickly evaluate their cyber risk exposure. This simplified version of DeNexus’ DeRISK AI-powered Cyber Risk Assessment platform provides facilities and risk owners with a complimentary entry point to understand their cyber risk posture and assess the impact of solution strategies.
Source: DeNexus expand re/insurance, ILS expertise with senior hire
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