Resilience, the next-generation cyber risk solutions company, is proud to announce their invitation to the World Economic Forum’s Annual meeting in Davos, Switzerland, and share how their unique approach and evidence-based experience has helped companies become cyber resilient to ransomware attempts. Vishaal “V8” Hariprasad, Co-Founder/CEO of Resilience and a former Air Force Cyber Operations Officer, will be joined by Christopher Wray, Director of the FBI, Catherine De Bolle, Executive Director for Europol, and others, in leading a panel discussion titled “Ransomware: To Pay or Not to Pay” on January 19, 2023.
Ransomware is an epidemic – increasing 82% from 2020 to 2021 – and representative of the surge in cybercrime overall, estimated to reach $10.5 trillion by 2025 according to Crowdstrike and Cybersecurity Ventures – despite the significant investment in cybersecurity that companies continue to make.
The surge in cyber crime requires companies to make a massive shift in how they assess, measure, and manage their cyber risk across the internal silos of finance and security. Resilience has seen that the strongest companies align their technological investments with financial understanding of the most critical risks to their enterprise. This holistic approach of leveraging insurance with technical cybersecurity visibility has proven to help to ensure clients are resilient to extortion attempts.
“The ransomware epidemic has made it clear that continuously improving companies’ risk profiles requires connecting their cyber insurance coverage with their cybersecurity plan to reinforce great cyber hygiene,” said Hariprasad. “We’ve seen tremendous success fighting ransomware by connecting insurance to security, helping clients build resiliency to extortion and manage active incidents. What we propose is dynamic: reduce the risk, reduce the risk transfer cost, reduce the severity of a breach, reduce the risk to partners, and improve your business’s agility and competitiveness. That’s Resilience’s mission.”
With Resilience’s success deploying this novel approach in the US and UK, they look forward to sharing best practices and learnings with the entire World Economic Forum community and helping companies across continents fight crime and build cyber resilience.
Previously in November 2022, Hariprasad led the Forum’s educational session in Geneva, Switzerland as part of their Annual Meeting on Cybersecurity (titled “Cybercrime: Staying Ahead of the Curve”), discussing how to stay ahead of bad actors as their tactics grow more technologically advanced, complex, and malicious.
Resilience helps middle-to-large market enterprises connect their cyber insurance coverage with advanced cybersecurity visibility and actionable cyber hygiene. Their recently launched new website (www.cyberresilience.com), and campaign, titled “Rewriting the Rules of Risk”; advocate a unique approach to the integration of technology, economics, and behavior to break down barriers between risk management, information security, and financial leaders.
Resilience is proud to be backed by leading technology investment firms including General Catalyst, Lightspeed Venture Partners, Intact Ventures, Founders Fund, CRV, and Shield Capital. With headquarters in San Francisco, Resilience’s team is globally dispersed, with offices in New York, Chicago, Baltimore, Toronto, and London. Resilience offers insurance coverage through its licensed and appointed insurance agency and security services through its expert security team.
For more information, visit us at www.cyberresilience.com.
About the Forum
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas. It was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland. It is independent, impartial, and not tied to any special interests.