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a Security ECONomics service platform for smart security investments and cyber insurance pricing in the beyonD 2020 netwOrking era

Objective

SECONDO addresses the question “How can decisions about cyber security investments and cyber insurance pricing be optimised?” SECONDO will support professionals who seek cyber security investments, developed to support human decision making, and a complete well-founded security strategy. This is a timely research problem, as the rapid growth of cyber-attacks is expected to continue its upwards trajectory. Such growth presents a prominent threat to normal business operations and the EU society itself. On the other hand, an interesting, well-known, finding is that an organisation's computer systems may be less secure than a competitor's, despite having spent more money in securing them. Budget setting, cyber security investment choices and cyber insurance, in the face of uncertainties, are highly challenging tasks with massive business implications. SECONDO aims to make impact on the operation of EU businesses who often: (i) have a limited cyber security budget; and (ii) ignore the importance of cyber insurance. Cyber insurance can play a critical role to the mitigation of cyber risk. This can be done by imposing a cost on firms' cyber risk through a premium that they have to pay and the potential for paying a smaller premium should they reduce their current cyber security risk. SECONDO has a cross-disciplinary nature, combining mathematical and engineering insights to empower innovative software. Apart from the novel research results, the project will offer a software platform to narrow the gap between theoretical understanding and practice. To achieve this, the four industrial project partners will i) lead the part of the project where industrial needs will be entered as input to the requirements collection phase, and, ii) provide their innovative software for risk assessment. The three academic partners will work together to i) design and thoroughly describe the proposed methodologies, but also ii) contribute to their software development.

Coordinator

UNIVERSITY OF PIRAEUS RESEARCH CENTER
Net EU contribution
€ 276 000,00
Address
Al. Papanastasiou 91
185 33 Piraeus
Greece

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Region
Πειραιάς Aττική Αττική
Activity type
Higher or Secondary Education Establishments
Other funding
€ 0,00

Participants (7)

UNIVERSITY OF SURREY
United Kingdom
Net EU contribution
€ 31 878,00
Address
Stag Hill
GU2 7XH Guildford

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Region
South East (England) Surrey, East and West Sussex West Surrey
Activity type
Higher or Secondary Education Establishments
Other funding
€ 0,00
TECHNOLOGIKO PANEPISTIMIO KYPROU
Cyprus
Net EU contribution
€ 276 000,00
Address
Archbishop Kyprianos 31 Savings Cooperative Bank Building 3rd Floor
3036 Lemesos

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Region
Κύπρος Κύπρος Κύπρος
Activity type
Higher or Secondary Education Establishments
Other funding
€ 0,00
UBITECH LIMITED
Cyprus
Net EU contribution
€ 276 000,00
Address
26 Nikou & Despinas Pattchi
3071 Limassol

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Κύπρος Κύπρος Κύπρος
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 0,00
LSTECH ESPANA SL
Spain
Net EU contribution
€ 165 600,00
Address
Calle Pallars 193
08005 Barcelona

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Este Cataluña Barcelona
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 0,00
KROMAR MESITES ASFALEION MONOPROSOPI EPE
Greece
Net EU contribution
€ 220 800,00
Address
Agiou Konstantinoy 17
151 24 Maroisi

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Region
Βόρειος Τομέας Αθηνών Aττική Αττική
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 0,00
FOGUS INNOVATIONS & SERVICES P.C.
Greece
Net EU contribution
€ 110 400,00
Address
Michali Karaoli 51-53
161 21 Kaisairiani

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SME

The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Yes
Region
Κεντρικός Τομέας Αθηνών Aττική Αττική
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 0,00
UNIVERSITY OF GREENWICH
United Kingdom
Net EU contribution
€ 244 122,00
Address
Park Row Greenwich Old Royal Naval College
SE10 9LS London

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Region
London Outer London — East and North East Bexley and Greenwich
Activity type
Higher or Secondary Education Establishments
Other funding
€ 0,00