Armed with these data-driven insights, decision-makers can allocate resources and prioritize remediation efforts based on how much the organization stands to lose financially if they don’t address a particular gap in their security program.
Financial Quantification complements the BitSight Security Rating, combining Kovrr’s real-world cyber event data with BitSight’s context into your digital assets and cybersecurity posture to deliver the industry’s most comprehensive financial quantification analysis. This mix of technographic data, firmographic data, cyber insurance claims data, and cyber scenario probability calculations drive the model to simulate financial exposure across multiple types of cyber events and impact scenarios in an efficient and easily repeatable way.
Kovrr’s approach models potential loss types independently — combining the results to deliver an analysis of probable maximum loss. This model is iterative and evaluates features of both past and current cyber events. As such, users can feel confident that the Kovrr event catalog provides a solid baseline assessment of the potential impact of gaps in their security controls. And because this turnkey solution builds off of existing BitSight and Kovrr data, you can implement it quickly and easily — without investing in any additional headcount or outside resources.
By driving this universal understanding of cyber risk across your organization, you can empower decision-makers to deliver better and more secure business outcomes for your investors, business partners, and customers.
Interested in learning more about Financial Quantification for Enterprise Cyber Risk? Register for our webinar on April 21.
There’s no question about it: Being exposed to cyber risk is an inevitable part of doing business in today’s world. In fact, a recent ESG study found that 82% of organizations believe that cyber risk has increased over the past two years.