Cybersecurity assurance framework provider HITRUST has launched IRIDX, a wholly owned subsidiary that measures residual information risk and potential financial exposure using scoring models, data analytics and methodologies developed over roughly 18 months.
The company told CCI that IRIDX was structured as a separate subsidiary to protect independence in how risk is evaluated, scored and reported, and that it is funded entirely by HITRUST with no outside capital. The concept originated within HITRUST several years ago before formal development began, the company said.
HITRUST founder and executive chairman Daniel Nutkis is leading IRIDX on an interim basis while the subsidiary conducts an executive leadership search. IRIDX is co-located with HITRUST in Frisco, Texas, and draws on dedicated personnel and shared HITRUST resources under an “arms-length” services agreement. HITRUST declined to disclose IRIDX’s headcount or staffing breakdown.
