Willis Towers Watson announces further expansion of its proprietary cyber risk quantification modelling platform, Cyber Quantified, with the integration of SecurityScorecard security ratings. Cyber Quantified uses predictive analytics to quantify an organization’s risk of cyber loss due to network outage or data compromise.
SecurityScorecard, the global leader in cybersecurity ratings, reviews a company’s technical security and can accurately forecast potential data breach frequencies and related impacts. The partnership will enable SecurityScorecard’s proprietary system to be integrated into Willis Towers Watson’s Cyber Quantified suite of analytics. Ratings are provided to companies which can be used to improve their cybersecurity as well as analyzing the security posture of third-party vendors.
Tom Srail, Director, Client Relationship Management, Willis Towers Watson, said “Our clients are seeking advanced solutions to better understand the frequency and severity of cyber risk using predictive analytics. This latest enhancement to our cyber analytical tool gives not only increased decision support intelligence, but also provides information security professionals with actionable data to improve their security posture and reduce vulnerabilities. The integration of Cyber Quantified and SecurityScorecard puts Willis Towers Watson in an unparalleled position to assist companies in cyber risk quantification and related risk assessment.”
“We are thrilled that Willis Towers Watson has selected SecurityScorecard’s security rating services as part of their Cyber Quantified platform,” said Dr. Aleksandr Yampolskiy, CEO and co-founder of SecurityScorecard. “As the only security ratings company with over a million continuously rated companies and a commitment to trust and transparency, we are the best-in-class rating partner for highly regulated industries, with a targeted focus in insurance.”
SecurityScorecard offers a new data point to the Cyber Quantified model in determining a company’s breach frequency and evaluation of how well the company can protect its data assets and prevent a breach. The Willis Towers Watson Cyber Quantified product suite also enables improved accuracy in forecasted cyber insurance as well as evaluating risk scenarios based on mitigating financial risk to the business.