Building Cyber Risk Quantification In-House vs. Buying a Platform
A team that can write a Monte Carlo simulation over a loss distribution can build a cyber risk quantification model in a few weeks. The mathematics is undergraduate statistics and the code is not the obstacle. Three other things are, and each one outlasts the build. Loss data good enough to calibrate against, the work of keeping the model current once the person who wrote it moves on, and documentation that holds up when somebody who did not build it starts asking questions.