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Organizations that fall victim to a successful cyber-attack face serious consequences, including:
There are many systems that can help you uncover individual cyber-risk issues. These may provide a list of things to deal with, but they do not provide context and do little to articulate how at risk your organization is. They cannot tell you about the level of risk present in the businesses you work with. To address this full-fledged business risk, organizations need an accurate and empirical measurement of cyber-risk, whether it is for their organization or the businesses they work with.
How the FICO® Cyber Risk Score helps
The FICO® Cyber Risk Score provides an accurate assessment of an organization's cybersecurity posture that is:
When should you use the FICO® Cyber Risk Score?
The FICO® Cyber Risk Score can help organizations assess both their own cybersecurity posture and that of the businesses they work with to help with a number of business issues.
Assessment of your own organization
An empirical assessment of the cybersecurity posture of your organization can help you when:
Just as you need to predict the likelihood of your organization suffering a breach, you will also want to know about the cybersecurity of businesses you work with. The FICO® Cyber Risk Score delivers an accurate score that predicts the likelihood of an organization being breached in the coming 12 months. This can help you with business problems including:
Vendor risk management
Connectivity creates aggregate risk and you inherit risk from your suppliers (and your supplier’s suppliers), particularly those that have access to your systems or data, or from which you ingest data. The FICO® Cyber Risk Score will:
Mergers and acquisitions
Understand the cyber-risk you are bringing into your business when you acquire or merge with another.
Business payment terms
60% of US small and medium sized businesses go bust within six months of a successful cyber-breach. By understanding the risk of breach of your customers, you can make better decisions about the invoice terms you extend.
Organizations of all types and sizes are at risk of a cyber-breach. Our solution is scalable and can be used by them all to assess their own cybersecurity posture. Businesses of all types can also use the Cyber Risk Score to assess other organizations they work with, but it is particularly applicable for those that:
Cyber-risk insurance is increasingly important. Insurers needs to understand the risk they are accepting when they underwrite a policy and be able to set fair and appropriate premiums. The FICO® Cyber Risk Score has been developed in-line with industry standards, including the NIST Cybersecurity Framework. This means it can help cyber-risk insurers to:
The most accurate security rating service to determine the risk profile of any organization.
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Client: Leading Telecommunications Company
Challenge: Detect supplier cyber risk through automated assessments and monitoring to ensure the most secure, reliable, and resilient environment for the company’s data and business assets.
As cyber criminals are taking advantage of the COVID-19 pandemic and organizations are confronted with increasing economic pressures, how do you scale your cyber risk programs to protect your business?