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Strategic Alliance for Cyber Risk Quantification
SecurityScorecard has forged a strategic partnership with Willis, a prominent WTW business, aiming to revolutionize cyber risk quantification, refine insurance modeling, and bolster security strategies on a global scale. This collaboration highlights SecurityScorecard’s commitment to advancing cyber risk strategies and positions Willis as its official insurance broker, strengthening the synergy between cyber insights and insurance strategy.
The collaboration unites the expertise of both companies to advance the refinement of cybersecurity event data, fortify risk management strategies, and enhance risk quantification models crucial for the insurance industry. By integrating SecurityScorecard’s comprehensive cybersecurity ratings and analytics with Willis’ profound risk management and insurance insights, the partnership aspires to deliver solutions that significantly enhance cyber resilience and improve risk assessment capabilities.
Enhanced Cyber Resilience and Risk Assessment
Andrew Correll, Senior Director of Cyber Insurability at SecurityScorecard, emphasized the increasing necessity for organizations to quantify and mitigate cyber risks with utmost precision. He stated, “This partnership with Willis empowers us to provide real-time, data-driven insights that enable enterprises and insurers to make smarter, more informed decisions in the dynamic digital landscape.”
The alliance is set to develop innovative models that integrate SecurityScorecard’s security signals with Willis’ proprietary Cyber Quantified framework. These models will publish industry insights on cyber risk management and insurance best practices, offering organizations enhanced visibility into third-party cybersecurity risks. The collaboration also aims to align cybersecurity investments with insurance underwriting processes, optimizing coverage and premiums.
Empowering Organizations with Insights
Dr. Claudia Piccirilli, Senior Director, Global FINEX Data Science & Analytics at Willis, remarked, “Our alignment with SecurityScorecard unlocks new opportunities for clients by bridging the gap between cybersecurity and insurance. This collaboration will empower organizations with the insights and tools needed to proactively manage cyber risk and fortify their security posture.”
