That’s why we are excited to announce a strategic partnership with Glass Lewis, the world’s leading proxy advisory services company, that will dramatically improve investors’ visibility into cyber risk. BitSight Security Ratings, data, and insights will now be included in Glass Lewis’ Proxy Paper research reports—reducing information asymmetry and enabling better decisions among market participants.
Institutions like Moody’s, and now Glass Lewis, have recognized that cybersecurity readiness is directly tied to financial performance. Failing to adequately manage cyber risk can have significant negative impacts on a company’s revenue and reputation.
“Investors know they’re dealing with an iceberg when it comes to cybersecurity. They know the risk is there, but they lack visibility into how big it is,” said Steve Harvey, BitSight’s chief executive officer. “Including BitSight ratings and data with Glass Lewis proxy research reports gives investors visibility into cybersecurity risk associated with investments.”
Over 1,300 organizations, including most of the world’s largest pension plans, mutual funds, and asset managers that collectively manage over $40 trillion in assets, use Glass Lewis’ research and technology solutions to inform and facilitate their corporate governance activities. Proxy Paper research features case-by-case, independent analysis of all the proposals contained in tens of thousands of meetings held each year across more than 100 markets worldwide. BitSight data will provide investors with cyber risk insights into over 20,000 companies.
The landscape of governance, especially as it pertains to cyber controls, is changing rapidly and institutions from the United Nations to the Securities and Exchange Commission (SEC) are increasingly focused on market transparency for global investors. The SEC has indicated that cybersecurity is a material business risk requiring consistent, adequate disclosure.
BitSight is committed to creating trustworthy, data-driven, and dynamic measurements of organizational cybersecurity performance derived from objective, verifiable information. We provide the only cybersecurity rating that is independently verified to correlate with data breaches. Furthermore, independent research also shows that higher BitSight ratings (indicating stronger cybersecurity performance) are correlated with financial performance.
“The BitSight Security Rating and insights will allow our clients to identify cyber risk exposure, potentially minimizing both reputational risk and long-term financial losses,” said Dan Concannon, Glass Lewis Chief Commercial Officer. “We are excited to include the industry’s most respected and widely leveraged Security Rating in our Proxy Paper research reports allowing our clients to address this rapidly expanding risk.”
“It's really a sea change,'' said Harvey. “Cyber risk is becoming a key factor in investment decisions.”
We are excited to announce a new research partnership with the Cambridge Centre for Risk Studies (CCRS). Our joint research will analyze the relationship between organizational cybersecurity investments and risk reduction.
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