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Cyber Risk Quantification (CRQ)

The cost of cyber risk is increasing. Reduce your organization’s financial exposure by translating cyber risk into business terms.

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The cost of cyber risk is increasing. Reduce your organization’s financial exposure by translating cyber risk into business terms.

Cyber risk can impact everything from your organization’s credit rating to its brand reputation. Cyber Risk Quantification helps you make better risk management decisions and reduce your cyber exposure.

Standardize cybersecurity conversations in the boardroom by translating cyber risk into financial terms. Focus on business impact and outcomes.

Standardize cybersecurity conversations in the boardroom by translating cyber risk into financial terms. Focus on business impact and outcomes.

Quickly assess your exposure to cyber risk to optimize your program and improve your resource allocation.

Quickly assess your exposure to cyber risk to optimize your program and improve your resource allocation.

Enable better communication and decision making around regulatory compliance, M&A and cyber insurance underwriting and limits considerations.

Enable better communication and decision making around regulatory compliance, M&A and cyber insurance underwriting and limits considerations.

Cyber Risk Quantification

CRQ is an imperative today given the increasing cost of cybersecurity and cyber risk, but organizations have different needs and resources. A tiered approach to CRQ increases in fidelity and confidence as more data sources are added to the assessment.

Regardless of the level of data required, you can be confident that the automation and technology provide efficient and scalable results you can bring straight to the boardroom.

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As the cost of cyber risk continues to rise, boards and executives are looking to their CISOs and CROs to better understand how prepared their organizations are to mitigate and weather the cyber risks they face. An effective Cyber Risk Quantification solution will enable you to answer those questions, and get the support you need, by translating your security posture and risk into financial terms.

Join us for a multi-part series on Cyber Risk Quantification hosted by Jack Freund, a co-author of Open FAIR.

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How can cybersecurity be treated as a business issue?

Quantifying cyber risk in financial terms empowers security professionals to communicate with other key stakeholders more effectively by speaking in a common language.

How can we get the support we need for the security program?

Business leaders rarely allocate financial resources without fully understanding the expected return, or more specifically, cost avoidance.

How do we measure and manage cyber risk effectively?

The BitSight platform enables organizations to integrate cyber risk into their enterprise risk framework.

Do we have the right amount and type of cyber risk insurance?

Companies face a variety of challenges in procuring cyber insurance.

Are we fulfilling our governance responsibilities for cyber risk?

According to McKinsey – 95% of board committees discuss cyber risk at least quarterly but a majority find these reports too technical.

Would the loss from a cyber event be material for our company?

In the digital economy, the elimination of cyber risk is unobtainable. Ultimately, it is the Board’s responsibility to ensure the company is managing risk so that an extreme cyber event falls below its materiality threshold.

How do we evaluate security performance?

Executive leadership has long required an independent assessment of their cybersecurity posture.

How are we doing relative to industry peers?

Translating cyber risk for non-technical stakeholders begins with applying financial and governance metrics to cyber risk.

Are we spending the right amount on our security program?

For financial officers – cyber investment has long been opaque. Cyber budgets are expected to grow 10% annually through 2027

How do we evaluate the efficacy of the security program?

The BitSight platform provides critical risk management, governance, and effective assurance to internal auditors who have long relied on more subjective, self-attested, check-the-box assessment frameworks for measuring the efficacy of their security program.

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Moody's is spending $250 million to measure the risk of America's biggest companies getting hacked

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Fitch sees connection between insurers’ credit ratings and cybersecurity

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Moody's Warns Cyber Risks Could Impact Credit Ratings

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