Cyber insurtech receives ‘significant investments’

DeNexus, a cyber risk insurtech with operations in Bermuda, has received “significant investments from leading energy and insurance companies” to help it meet demand for cyber threats to critical infrastructure. 

The company, headed by founder Jose Seara, has a Bermuda regulatory sandbox licence and plans to the strategic investments to enhance its flagship deRISK platform. 

It also plans to launch its Bermuda-based subsidiary, DNX Intermediaries, to serve the cyber risk transfer market. The company introduced DeRISK freemium, a complementary tool for industrial companies, to assess cyber risk exposure and evaluate mitigation strategies.

DeNexus was established to help industrial organisations better meet cyber threats in conjunction with the risk transfer industry. 

It said its modelling and cyber data enabled companies to enhance their cybersecurity, implement ROI-driven risk mitigation strategies, secure insurance coverage, optimize policy premiums for better coverage, perform prudent capital management, and meet new compliance regulations. 

Seara said: "As we embark on this exciting phase of growth, we are looking forward to building a full stack solution for cyber risk and continuing to help companies take control of their cyber risk."

The company said it plans to accelerate the widespread adoption of DeNexus' DeRISK cyber modelling and risk management platform by industrial enterprises and physical critical infrastructures. 

It added: “DeNexus has launched a series of ever-improving cyber risk quantification models under its DeRISK platform, which helps both industrial organizations and underwriters comprehend and price the real risks related to cyber incidents. 

“DeNexus also plans to launch its subsidiary, DNX Intermediaries (Bermuda) Ltd, to efficiently serve the cyber risk transfer market. The company introduced DeRISK freemium, a complimentary tool for industrial companies to assess cyber risk exposure and evaluate mitigation strategies.”