CRQ-As-a-service

CRQ: Quantify your financial exposure to cyber and technology risk with C-Risk

Our FAIR-based turnkey solution is built for organizations looking to operationalize quantitative risk management without investing in software platforms and hiring a team. Our CRQ capability supports multiple use cases. An annual subscription provides you with regular Cyber Risk Quantification insights. We take care of implementing the right tool and building your knowledge library of risk scenarios. Benefit from quick time to value and a scalable service that supports your decision-making.

What is CRQ as a Service?

CRQ aaS is an annual cyber risk quantification service. It can complement your existing risk program or can jumpstart a new one. Our approach is non-intrusive and quick to implement, with actionable output adapted to your business context. Our team of cyber risk experts works with your team to identify and measure your cyber risk exposure including the potential impact of a cyber incident in business-relevant terms.

Value Chain and Critical Digital Assets

To begin, identify your organization's key processes. These processes are then tied to your critical digital assets. Once the value chain is mapped, it is periodically assessed, collecting key business metrics and identifying any changes over time.

Scope Top Risk Scenarios

Our CRQ experts leverage the discovery process and the C-Risk knowledge library of risk intelligence to define the top risk scenarios you are concerned about. We scope therisk scenarios that matter based on your assets, threats, and controls. Risk scenarios are quantified to support decision-making within the context of your organization. As more data is collected and trends are captured, analysis precision improves.

Use Case Support/Output

Our experts deliver Stakeholder Risk Reporting aligned to your governance cycle. We perform on-demand deep dive assessments on control modelling, as needed. reports outlining the scope of the CRQ analysis, your risk universe, the probable frequency and financial losses related to critical digital assets, recommendations for controls and compliance. In time, you also gain access to trend reports. These reports can be used to defend budget requests or business decisions.

CRQ-as-a-service

Leveraging Cyber Risk Quantification to support business decisions

This solution is built on the C-Risk Knowledge Library of quantifiable risk scenarios and corresponding data sets. This allows us to quickly perform a risk assessment.

We analyze your business value chain to identify key digital assets and establish the risk universe. Then we define the risk scenarios to be quantified. We estimate the frequency and magnitude of the identified scenarios using the information collected combined with our own data sets. The entire process can be completed within a few days thanks to our streamlined methodology. We can also quantify your total cyber risk exposure by aggregating scenarios. Scenarios are typically defined by critical digital asset, per BU, per type of threat, and impact (C-I-A).

Our risk assessment solutions provide the key to understanding and communicating cyber risk in business terms using monetary values leading to actionable insights.

Cyber Risk Quantification (CRQ) in financial terms improves decision-making and leads to increased cyber resilience.

C-Risk CRQ as a Service is based on non-proprietary open frameworks (FAIR, NIST, etc.) and integrates with standards such as ISO27001 / 27005.

Cyber risk quantification for business decisions

CRQ as a Service at work

CRQ as a Service provides CISOs, CFOs, senior management, risk managers and IT teams with risk-based and data-driven insights to communicate with decision-makers and improve cybersecurity. Below are some examples of companies that have benefited from C-Risk's CRQaaS.

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Regional Retail Bank

We perform biannual Top Cyber Risk CRQ assessments, provide executive reports, support the CISO budget process and annually review the cyber risk insurance policy based on CRQ results.

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Consumer Product Company

C-Risk performs biannual Top Cyber Risk assessments, including an NFT business, provide board-level reports, control performance assessments and M&A assessments.

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PR and Advertising Company

We provide Top Cyber Risk assessments, board-level reporting, support the CISO budget process, perform control performance assessments and map risk scenarios to MITRE ATT&Ck kill chain.

Would you like to learn how
C-Risk's CRQ as a Service can build your cyber resilience?
Talk to an expert

There's no need for in-house tools or platforms, we've got you covered. Our CRQ approach brings clarity to the often obscure world of cyber threats, enabling your organization to strengthen its cyber resilience.

Why this solution?

Identifying the real value of your cybersecurity investments can be challenging when the financial impact of a risk is unknown. CRQ as a Service simplifies the process. Our turnkey CRQ solution eliminates the need for tool implementation and our on-demand cyber risk experts provide regular data-driven insights.

Enable risk-based governance

CRQ aaS provides quantified insights to decision-makers so that controls can be matched to the organization's risk appetite, ensuring that IT investments deliver maximum value in protecting an organization's critical assets and operations.

Quick Time to Value

There's no need to select, purchase, implement, and maintain a a CRQ tool. We've got it covered. Our deep CRQ knowledge allows your team to prioritize and concentrate on the core aspects of your business, ensuring that your focus remains on what matters.

FAIR implementation and expertise

We use the FAIR standard and methodology for analyzing, and quantifying information risk in financial terms. Organizations are given the tools to transform qualitative concerns into quantitative insights, enabling accurate risk assessment and informed decision-making.

Your Role

Who do we support with C-Risk's CRQ as a Service?

Our risk-based all-in-one solution addresses critical stakeholders at all levels.

C-Suite

CRQ aaS builds cyber resilience and improves cybersecurity governance with data-driven insights and reporting, ensuring regulatory compliance and aligning cybersecurity efforts with broader business strategies.

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Senior management

De-risk your CRQ program bystarting with an aaS approach. The C-Risk team provides deep CRQ expertise leaving your team to focus on what matters. Align your cybersecurity strategy and oversight with the latest cybersecurity regulations.

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Risk professionals

CRQ aaS is a fully managed data-informed approach to measure, manage and mitigate cyber and technology risk. Quantitative results from our CRQ analysis will improve engagement and collaboration  across the IT Security, IT operations and Risk teams.

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C-Risk Success Stories

"State-of-the-art approaches"

C-Risk is a thought leader and ambassador of Cyber Risk Quantification in Europe with a strong influence on the market. The team is working relentlessly on educating organizations and quantifying their top risks with state-of-the-art approaches in order to improve decision-making on (cyber) risks. 

David Steng
Director Cyber Risks & Economics @ Fresenius Group

"I highly recommend C-Risk"

Over the past two years, I have worked with C-Risk on a number of projects, from performing FAIR-based quantitative risk assessments and consulting on Information Security strategy to GDPR/SOX 404 compliance work. C-Risk has a deep understanding of each subject area, in particular the FAIR methodology. They have a flexible approach and are able to scale depending on your needs. I highly recommend C-Risk to anyone seeking risk assessment or information security consulting services.

Markus Kaufmann
C|CISO

Would you like more information about CRQ?
Contact us.

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FAQ: Cyber Risk Quantification

Here are some answers to your commonly asked questions.

What is the difference between quantitative and qualitative risk management?

Quantitative risk management involves numerical and statistical methods to assess and measure the risk levels, typically expressed in financial terms or other measurable units. It uses data, metrics, and models to quantify the potential impact and probability of risks, allowing for comparisons and prioritization. In contrast, qualitative risk management relies on descriptive and subjective methods, using categories to rank and prioritize risks based on their perceived severity such as High, Medium and Low.

How do you quantify cybersecurity risk?

It involves scoping the top cyber risks that affect your critical digital assets, then estimating the financial, operational, and reputational damages they could cause as a result. Quantifying cyber risks using the FAIR™ model provides you with a distribution or range of percentages that express the Loss Event Frequency and monetary values for the Loss Magnitude.

What are the six types of loss for cyber incidents using the FAIR™ model?

There are six types of loss according the the FAIR™ standard that businesses should be aware of: Productivity Loss, Response Loss, Replacement Loss, Fines and Judgments, Competitive Advantage, and Reputation Damage.