Boston, November 18, 2021 — Bitsight, the standard in security ratings, and Marsh McLennan, the world’s leading professional services firm in the areas of risk, strategy, and people, announced today a collaboration to help organizations better understand, measure, and manage their cyber risks.
Marsh McLennan’s recently announced Cyber Risk Analytics Center will leverage Bitsight Security Ratings, data, and analytics, enabling clients to better understand their cybersecurity performance and make more informed risk management decisions. With access to Bitsight, clients can seamlessly receive this information, rapidly identify potential vulnerabilities, and put mitigation strategies in place. The two firms also will pool their widely respected insights to collaborate on joint research and analysis.
With cybersecurity incidents increasing at an alarming rate, the urgency of cybersecurity performance management cannot be overstated. Bitsight Security Ratings are the industry’s most trusted and widely adopted cyber risk ratings and the only solution independently verified to correlate with data breach risk.
“2021 is shaping up to be one of the most challenging years for cyber risk on record, and we continue to hear from clients that cybersecurity is among their most urgent risk concerns,” said Scott Stransky, Head of the Marsh McLennan Cyber Risk Analytics Center. “By collaborating with Bitsight, we are providing clients with more data-driven insights to better manage risk in an increasingly difficult cybersecurity landscape.”
“Cyber insurance brokers now play a critical role in helping their clients actively manage cyber risk,” said Stephanie Snyder Frenier, vice president and general manager, insurance at Bitsight. “This marks an exciting opportunity to share our cyber risk data and expertise to help Marsh McLennan counsel their clients on reducing risk of cyber exposure. This collaboration builds on Bitsight’s previous work to bring universal understanding to cyber risk, and further validates Bitsight’s position as the trusted industry standard in cybersecurity ratings and analytics.”
Recently, Bitsight sealed new partnerships with Moody’s and Glass Lewis to expand the global marketplace’s understanding of cybersecurity and improve the way market participants measure and manage cyber risk.
Bitsight is transforming the way that the global marketplace addresses cyber risk with cybersecurity ratings and analytics. The Bitsight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and improve national security. With 2,300 global customers and the largest ecosystem of users and information, Bitsight is the Standard in Security Ratings. Learn more at bitsight.com.
About Marsh McLennan
Marsh McLennan (NYSE: MMC) is the world’s leading professional services firm in the areas of risk, strategy and people. The Company’s 81,000 colleagues advise clients in 130 countries. With annual revenue over $19 billion, Marsh McLennan helps clients navigate an increasingly dynamic and complex environment through four market-leading businesses. Marsh provides data-driven risk advisory services and insurance solutions to commercial and consumer clients. Guy Carpenter develops advanced risk, reinsurance and capital strategies that help clients grow profitably and pursue emerging opportunities. Mercer delivers advice and technology-driven solutions that help organizations redefine the world of work, reshape retirement and investment outcomes, and unlock health and well being for a changing workforce. Oliver Wyman serves as a critical strategic, economic and brand advisor to private sector and governmental clients. For more information, visit marshmclennan.com, follow us on LinkedIn and Twitter or subscribe to BRINK.